topic Re: CapitalOne Auto Navigator - if approved, will the dealership/Cap1 check for income? in Auto Loans

CapitalOne Auto Navigator - if approved, will the dealership/Cap1 check for income?

Anonymous — Sat, 08 Aug 2020 23:17:46 GMT

CapitalOne Auto Navigator - if approved, will the dealership check for income?

My spouse has really good credit but no income (other than mine). Anytime I try the pre-approvals for CapitalOne Auto Navigator for her, she always gets approved for $30K+. With these approvals, is there any way we can go in and get the car even though she doesn't have income? Even though *I* have income, I don't want to cosign on the loan because I don't want this new balance on my credit report.

Re: CapitalOne Auto Navigator - if approved, will the dealership/Cap1 check for income?

nax — Sat, 08 Aug 2020 23:27:18 GMT

6 months ago DW purchased a Tiguan and was approved through our credit union however they would not take her income verification (1099) for some reason. The finance manager said "Do you have a relationship with Capital One?" ... he said they "don't ask for income verification"

Went with Cap1 Auto for that loan, but I can say YMMV as I have no idea how truthful that is. They could have been offering the dealer more incentive than my credit union. Not sure! But that was our experience.

Re: CapitalOne Auto Navigator - if approved, will the dealership/Cap1 check for income?

Grizzly1 — Sun, 09 Aug 2020 01:56:46 GMT

I was just pre approved a few days ago for them and they want both proof of income and proof of residence from me.

Re: CapitalOne Auto Navigator - if approved, will the dealership/Cap1 check for income?

Mjhall85 — Sun, 09 Aug 2020 05:08:52 GMT

Once approved it will tell you what documents are needed if any. I did the prequalify days after my bankruptcy discharge and was approved for up to 35k and they only asked for a recent paystub. I sent it in via auto navigator and then found my car I wanted did the finance application at dealer and went home in about an hour. The dealer will only take the down payment from you if you put money down,any verification capital one will do prior to your purchase.

Re: CapitalOne Auto Navigator - if approved, will the dealership/Cap1 check for income?

Shooting-For-800 — Sun, 09 Aug 2020 11:36:17 GMT

I got 2.49% for 72 months with $0 down and NO POI.

Entire process could not have been easier.

I did spend a lot on my Cap One cards though.

GL!

Re: CapitalOne Auto Navigator - if approved, will the dealership/Cap1 check for income?

Gmood1 — Sun, 09 Aug 2020 13:36:18 GMT

I've been playing around with this prequalifier as well.

At the bottom it says to bring proof of insurance and DL. Don't see anything about PIO. Rates are actually better than some of the larger credit unions.

Re: CapitalOne Auto Navigator - if approved, will the dealership/Cap1 check for income?

charlie619 — Sun, 09 Aug 2020 15:40:50 GMT

I used Cap1 and they verified my income with the last two pay stubs. It may depend on how much income you put down because I was also told they would not verify.

Re: CapitalOne Auto Navigator - if approved, will the dealership/Cap1 check for income?

Dj4Money — Mon, 10 Aug 2020 12:13:38 GMT

It's always YMMV but that's usually with other credit factors. One of the reasons I had problems getting a loan post BK was because my income went from 20% W2 + 80% 1099 to 100% 1099 in the last year and half.

Most bad credit lenders won't touch you including some big ones like Santander.

But Capital One said yes to my BK and yes to my 1099 just send them bank statements.

Re: CapitalOne Auto Navigator - if approved, will the dealership/Cap1 check for income?

Dj4Money — Mon, 10 Aug 2020 12:16:46 GMT

Proof of Income usually disappears around 670 Auto or Bank scores. I had 670 when I bought the Focus ST, got approved by State Farm, Chase and TD Auto all based on my TU as my EX hadn't updated yet.

Never asked for POI

Re: CapitalOne Auto Navigator - if approved, will the dealership/Cap1 check for income?

Jannelo — Mon, 10 Aug 2020 12:19:46 GMT

I was approved last April. No proof of income required. My FICO scores were in the high 580s - 590s.