topic Re: Cap 1 auto loan question in Auto Loans

Cap 1 auto loan question

jenne223 — Sat, 10 Nov 2012 22:37:11 GMT

Has anyone ever had any success in decreasing the APR on a Capital one auto finance through the dealer?

Re: Cap 1 auto loan question

Creditaddict — Mon, 12 Nov 2012 15:43:39 GMT

@jenne223 wrote:
Has anyone ever had any success in decreasing the APR on a Capital one auto finance through the dealer?

current loan?

or you have been approved through capital one but you want to know if the dealership can beat the APR?

Re: Cap 1 auto loan question

jenne223 — Mon, 12 Nov 2012 17:37:14 GMT

Hi,

this is a current loan.

Re: Cap 1 auto loan question

Creditaddict — Mon, 12 Nov 2012 22:14:35 GMT

The only way to get a better interest rate is if you refinance it to another bank or trade it in and finance or lease a new car at a better interest rate (new used, New, and New lease).

Otherwise if you already have the car and the loan and have been paying for a bit, no help from dealer on current car.

Re: Cap 1 auto loan question

Anonymous — Mon, 12 Nov 2012 22:18:20 GMT

I had a cap1 blank check once that I took to a dealer. I had him run my credit to see if he could get me a better rate. Ended up that he couldn't, but what was interesting to me was that in his bunch of replys was one from cap1 with a higher rate and a requirement that I either pay off or trade in the car I owned at the time-one that I planned on keeping. Using the blank check did not have that requirement and I bought the car (Jeep wrangler) that day. Two different groups inside cap1 I reckon.

Go figure.

Re: Cap 1 auto loan question

Creditaddict — Mon, 12 Nov 2012 22:27:34 GMT

@Anonymous wrote:
I had a cap1 blank check once that I took to a dealer. I had him run my credit to see if he could get me a better rate. Ended up that he couldn't, but what was interesting to me was that in his bunch of replys was one from cap1 with a higher rate and a requirement that I either pay off or trade in the car I owned at the time-one that I planned on keeping. Using the blank check did not have that requirement and I bought the car (Jeep wrangler) that day. Two different groups inside cap1 I reckon.

Go figure.

I had a Santander loan approval at carmax, went to honda and he called his person with santander to get a loan and they flat out denied!

I went back and financed with no issues with santander at carmax... not great rate but I thought that was so silly then!

Re: Cap 1 auto loan question

Lasardo — Mon, 19 Nov 2012 20:07:40 GMT

I know Cap1 does not do Refi's, I tried and was told they do not, I was quite upset because on thier website they have a "button" to select and when I was told they do not I had an inquiry on my credit report. I wrote a letter explaining this and they removed it (very surprised)..hope that answers at least half of your question. Not sure on the rest.