topic Re: Capital One Auto Refinance in Auto Loans

Capital One Auto Refinance

Matth1669 — Sat, 28 Mar 2009 00:37:07 GMT

I was thinking of refinancing my auto loan with Capital One and wanted to know if anyone had any experience with them?? (Good or Bad).

Thank You

Re: Capital One Auto Refinance

Anonymous — Tue, 31 Mar 2009 06:19:18 GMT

Tell us more about your situation so we can better help you!

Re: Capital One Auto Refinance

Anonymous — Tue, 31 Mar 2009 11:21:06 GMT

My brother and his wife used CapOne to buy a pickup a couple months ago.....seemed to go okay. However, they purchased pre-owned 2006 and rate was 7.75.

PenFed offered to refi for 3.99 so you may want to look at a CU for better rates. Alliant offered me a 4.69 and PenFed 3.99.

I think CapOne is offering "as low as 4.79" for new, but used will be higher. And I don't know how often they actually grant the "as low as" rate.

From a loan qualification, speed and convenience, CapOne seems pretty easy to work with.

Message Edited by txjohn on 03-31-2009 04:21 AM

Re: Capital One Auto Refinance

Anonymous — Wed, 08 Apr 2009 06:18:41 GMT

I had a Cap1 loan refinanced through a CU and my rate went from 10.35% to 4.15%. My scores were around 620 when I purchased and 660 when I refinanced. Shop around for the best rate. Be prepared to pay for the negative equity, though. It is SHOCKING how quickly you get under water when your rate is above 10%.

Re: Capital One Auto Refinance

Takunda1 — Thu, 09 Apr 2009 02:40:10 GMT

@Anonymous wrote:
Is it just me or does capital one seem to like loaning to those with lower credit scores? (but at higher rates) Maybe they're trying to tap a market other companies don't want to touch.

Your observation is correct. Capital One Auto is in the subprime auto business not so great but not so bad credit . Thats where the money is.

Re: Capital One Auto Refinance

Anonymous — Thu, 09 Apr 2009 17:10:29 GMT

My experience with Capital One Auto Finance was good. I applied online and was approved for the amount requested and received the blank check within a few days. The rate was a little high at something like 9.79% for a used auto. I kept the loan for about 10 months and refinanced at 3.49% from my credit union a year ago. It is a fairly painless process but like others have mentioned I would definitely shop around for a lower rate. The only issue with shopping around is the credit inquiries. I would suggest printing off a copy of your credit report and getting your FICO scores and take it to a few banks/dealership and see what they can offer you. Don't allow them to pull your credit until you decide to finance through them. Good luck!

Re: Capital One Auto Refinance

Anonymous — Sat, 12 Dec 2009 04:25:44 GMT

I am having problems with Capital one this is the first time I have received bad customer service from them

I have been a past customer of theirs before with no problems and the loan was paid off in full till now.

I recently submitted a request for a loan in which I have a fico score of 700 and above rating.

I was given some lame excuse or reason why they could not give me a loan was that I have a mortgage and the other reason

was the time I have had my mortgage but when I sent them a letter for an explanation I got the run around and they informed

me that there was no real reason behind not giving me a loan not sure why since mostly everyone has a mortgage and I have had this mortgage for about 5 years now in good standing and I have a copy of my credit report and nothing shows up to give anyone a reason not to give the loan.

It must be I have a perfect credit rating with no late payments that I cannot get the loan go figure.

but at least there should be some one to respond to I have tried several times through email and regular mail and a phone call

to the customer support line and still having problems to get to talk to a live person on the line. Why are they turning away perfect loyal customers for a loan I really don't get it ??

Re: Capital One Auto Refinance

Anonymous — Sat, 12 Dec 2009 14:08:33 GMT

@Anonymous wrote:
I am having problems with Capital one this is the first time I have received bad customer service from them
I have been a past customer of theirs before with no problems and the loan was paid off in full till now.
I recently submitted a request for a loan in which I have a fico score of 700 and above rating.
I was given some lame excuse or reason why they could not give me a loan was that I have a mortgage and the other reason
was the time I have had my mortgage but when I sent them a letter for an explanation I got the run around and they informed
me that there was no real reason behind not giving me a loan not sure why since mostly everyone has a mortgage and I have had this mortgage for about 5 years now in good standing and I have a copy of my credit report and nothing shows up to give anyone a reason not to give the loan.
It must be I have a perfect credit rating with no late payments that I cannot get the loan go figure.
but at least there should be some one to respond to I have tried several times through email and regular mail and a phone call
to the customer support line and still having problems to get to talk to a live person on the line. Why are they turning away perfect loyal customers for a loan I really don't get it ??

you should try another lender.