Re: Captialone Auto Loan is it easy to get approve?[ Edited ]
12-28-2012 12:35 PM - edited 12-28-2012 12:38 PM
Capital one is one of the easier banks to give out an auto loan. When we had our bankruptcy discharged in 2009, 6 months later they approved us for a 20,000 dollar used car loan but the interest rate was 10.85%. 7 months later we refinanced with our local credit union for 2.9%. So it would not hurt to try it just depending on your credit score its going to determine your interest rate.
I wouldn't say they were easy to get approved for. I had a credit card with them for two years and when I app'd for a auto loan with them, they denied it on top of three credit pulls. My FICO at the time was around 720 but my auto enhanced score was 640 I think...
I've never had any late payments. My only problem was that I had never had a car loan before. Lol.
FICO scores: 763 (EQ) 740 (EX) 751 (TU) | Goal scores: 750+ (all 3)
Open loans: Hyundai Motor Finance - $8k balance remaining | 60 months @ 4.9% (First Time Buyer 12/2012)
Tradelines: Capital One (5k) | Macy's (1.1k) | Living Spaces (8.5k) | Ashley (5.5k) | Discover IT (2k) | Walmart Discover (3k) | Chase Freedom NPSL | Citi Simplicity (8.0k)