topic Re: Capital One Prequalify rejection in Auto Loans

Capital One Prequalify rejection

Creditsen — Tue, 10 Mar 2020 17:36:59 GMT

"We appreciate your applying to pre-qualify for auto financing with Auto Navigator® from Capital One®. Unfortunately, after reviewing your request, we were unable to pre-qualify you. Remember, there was no risk to your credit score when you checked your eligibility." Capital One had the best rate offer when I started rate shopping. I keep hearing from friends that dealers will offer 2% or even less but I'm not finding any offer below 4% for the car I am looking for. A little bummed. Wondering if I should wait till July for my recent credit card applications to be a year old and my scores get a little bump or if I should just accept the rates are average.

Re: Capital One Prequalify rejection

AllZero — Tue, 10 Mar 2020 19:17:40 GMT

Your scores look good. Have you considered a credit union. e.g
DCU?

Re: Capital One Prequalify rejection

Creditsen — Tue, 10 Mar 2020 20:18:24 GMT

@AllZero wrote:
Your scores look good. Have you considered a credit union. e.g
DCU?

I went down a rabbit hole looking for Credit Unions that offer some sort of green loan rate as I am looking for a hybrid. Definitely something I am looking for. Would be nice to build a relationship with a highly rated CU. It looks like DCU does have a small discount for eco friendly vehicles.

Re: Capital One Prequalify rejection

AllZero — Tue, 10 Mar 2020 20:19:53 GMT

I'm not familiar with green loan rates.

There's PenFed or perhaps your local credit union too.

Re: Capital One Prequalify rejection

Creditsen — Tue, 10 Mar 2020 20:24:38 GMT

@AllZero wrote:
I'm not familiar with green loan rates.

I just searched DCU and if you check out their Auto Loans they offer 0.25% rate discount for energy efficient vehicles. This is what I mean when using the term 'green loan'. I've been having a hard time searching because no one calls a 'green loan' one thing. Energy efficient, environment friendly, etc etc. There is one credit union called Clean Energy Credit Union but they seem to be very new and I am a little hesitant if it isn't a longer term established company.