New Member
fico789
Posts: 5
Registered: ‎11-07-2012
Approved $XXX From Capital One- How Much From Dealer?

Hello board! 

 

Long time listener!- First time topic starter! 

 

Anywyas, my wife and where just approved from Capital One through their auto finance program for their Blank Check offer. We were approved for $33,000 with an interest rate of 2.97% for 72 months. While we are very happy with the approval amount, and along with the interest, (we were very anxious about having a terrible rate due to a BK more than three years ago, and our combined annual -gross- income is under 60k) we are looking for a couple thousand dollars more... 

 

...so my question is...

 

Based on all of the talk around here, everyone's experience, and other input- taking our offer from Capital One into consideration, would a dealership approve us for anything more? How about a rate just as competitive? We were looking to finacne a car around 35k, with tax and title included in that! We actually have some funds set aside for a down, but with a safe rate as we have obtained, we have decided to put that towards some high interest credit cards- pay those stinkers off!

 

Well thanks in advance for any opinions. 

Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012
Re: Approved $XXX From Capital One- How Much From Dealer?

Congrats on your approval

New Member
Conniewv
Posts: 4
Registered: ‎11-01-2012
Re: Approved $XXX From Capital One- How Much From Dealer?

Based on my experience of today, I'd say take your Cap One check in and let them try to get you better financing.  I posted in another thread, but, in short, they beat Cap One and were anxious to do so because the Cap One process is lengthy.  Good luck!

New Member
fico789
Posts: 5
Registered: ‎11-07-2012
Re: Approved $XXX From Capital One- How Much From Dealer?
Hey conniewv. Thanks for the response! Good to know we may have a chance of being approved with an even more attractive rate! So really?... Dealerships hate the leg work with the Blank Check program? If you happen to have a link to your other post, I'd greatly appreciate that. Thanks again
Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
Re: Approved $XXX From Capital One- How Much From Dealer?
[ Edited ]

fico789 wrote:
Hey conniewv. Thanks for the response! Good to know we may have a chance of being approved with an even more attractive rate! So really?... Dealerships hate the leg work with the Blank Check program? If you happen to have a link to your other post, I'd greatly appreciate that. Thanks again

FYI, that poster only has 4 posts.  If you click on their name, their posts will come up.  Can't be too hard to find.

 

ETA: http://ficoforums.myfico.com/t5/Auto-Loans/I-m-a-little-suspicious-of-the-Capitol-One-Blank-Check-ca...


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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New Member
fico789
Posts: 5
Registered: ‎11-07-2012
Re: Approved $XXX From Capital One- How Much From Dealer?

Sorry Walt...

Been busy looking for quick answers while on my iPhone. Let me explain what that means. It means it's running on io6+, along side a mobile version of Safari. Mearning this website, along with many others have limited views, accessibility, and features. Doesn't mean I couldn't bother running through Safari on my device to search conniewvs previous posts. I just didn't want to. I wasnt asking anyone else to process a search for me... I just assumed the best... Maybe conniewv would reply to my question and link me to the thread. Maybe it wouldn't be responded to. Yes I'm aware that "it can't be too hard to find". I'm like any other consumer, instant gratification. I needed a few questions answered- a few opinions, so I thought I'd stop here like so users do on forums all over the web. I see it as more of a network, not a place where, and I'm sorry to say, so many people probably sit around, trying to be the forum regular, expert, or even assume title of Valued Contributor. Users that have to chime in on every thread, even if they don't have a response to the topic. Let's take user Credit314 for example. Do you know how happy I was to receive an email after anxiously waiting for a valid opinion to my post?! To my dismay, I get the response, "Congrats on your approval". What the hell?! I wasn't looking for a high five now was I?

 

well, I'm tired of typing here on my iPhone.  

 

Bye

New Member
fico789
Posts: 5
Registered: ‎11-07-2012
Re: Approved $XXX From Capital One- How Much From Dealer?

FYI Walt. conniewv only has 4 post, imagine if I had to search your 2121?!  Or wait?! I guarentee that you might respond with a respomse like this...

 

"You know there is a feature on here where you can search a topic by keyword"

 

Yes Walt... I know how to use the web too, yes I do. 

 

Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
Re: Approved $XXX From Capital One- How Much From Dealer?
[ Edited ]

You're reading far too much into what I wrote.  You were a first-time poster, so I assumed you might not be familiar with all the ways to navigate this forum.  I thought I'd let you know that you can click on someone's name and see their posts.  It's quicker than waiting on a reply.  Especially when it is easily found because the poster only has 4 posts.  Was just trying to help.  In fact, I even went back and found the post for you and posted a link so you wouldn't have to search for it yourself.  So I don't know what you are so upset about.

 

That I have more posts is beside the point.  I didn't tell you to go searching through a ton of posts.  You can take a casual perusal through my posts and determine for yourself whether I try to be helpful on this forum and guide people to specific threads, even searching out links for them as well (as I did in this case).

 

 

ETA:  As to your original question, I can't say whether a dealership would approve you for more.  What is your DTI?  Dealerships are motivated to make sales, and if you've already applied for the loan through Cap One, any additional auto inquiries within a certain timeframe count as one inquiry.  I always forget the exact timeframe, I think it was 14 days under the earlier score models but 30 or 40 under the models that most people use now.  For that one, you're going to have to search yourself or wait for someone else to respond.  In any event, may not hurt to visit a dealership and see if they can do better.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Valued Member
blackie1
Posts: 36
Registered: ‎06-26-2012
Re: Approved $XXX From Capital One- How Much From Dealer?

"Methinks thou do protest too much"  Shakespeare!!

2fst4u
Epic Contributor
Creditaddict
Posts: 21,611
Registered: ‎10-23-2007
Re: Approved $XXX From Capital One- How Much From Dealer?

What car are you trying to buy?

Brand New?

 

I don't think I have EVER seen a under 3% rate with Capital One!!!

Fico Scores: EQ- 653 Cap1., TU 696 Walmart, EX 695 Chase (11-05-14)
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