I applied online tonight for a $50k car loan and received the following:
"Congratulations! We've approved your Capital One Auto Finance loan
application. Your Annual Percentage Rate (APR) is 9.75%.* We based our
decision on information you provided on your application. You will receive
a call or e-mail from us within the next business day, after we verify
any remaining information to complete this approval.
For even greater buying power, we're offering you an increased loan
amount of $2500. You can use the additional funds to purchase a more
attractive model, extra options or maybe an extended warranty. Or, use it
for related auto expenses. Spend what you need, up to your new approved
loan amount. Capital One Auto Finance gives you the flexibility to
purchase the exact vehicle--and features--you want."
Does this mean they only approved me for $2,500??? Or is that in addition to the $50k.
Help!! I anxious to find out and don't want to wait until the morning to call.
Thanks!
