Valued Contributor
Posts: 1,927
Registered: ‎06-21-2012
Re: CAPITAL ONE Blank Check Approval 30,000...LTV? HUH?

dhrren wrote:

Good Morning,


First off I LOVE THIS BOARD.  Thanks to you all I went up 80 points in 2 months!


So yesterday I started the car trade in process.  I have 2 seemingly good offers.

In this thread I have questions about the CAPITAL ONE BLANK CHECK PROGRAM.


I applied at their website and had to fax in document but i was approved at a very low APR 5.09-8% depending on vehicle age and up to $30,000.


Can someone please provide me with as much information as possible on what exactly this approval mean and how i can use it?


The biggest concern is LTV.  They said mine is 110%.  What is that?  Something about wholesale?  Car dealer sell retail?!   I am really confused but i want this done by tomorrow.   HELP PLEASE!!! 



Any information is appreciated.


Thank you,



5.09-8 percent is definitely not a "very low APR"


Like others have stated: trading your vehicle in is causing to immediately have inequity in your new purchase. You can do what you want, but i would wait until you are able to sell your vehicle first and then make the new purchase, or just keep your vehicle pay it off and not have a payment.

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