topic Re: Capital One Auto Navigator in Bankruptcy

Capital One Auto Navigator

Anonymous — Thu, 22 Jun 2017 21:02:28 GMT

Ch 13 discharged June 6 2017. Currently Pre-qualified CAPITAL ONE for $40k APR 3.94%-8.9% depending on vehicle/finance factors ... do I tell dealer up front about pre-qual or negotiate first?..Seen some back and forth on this...will the dealership still run credit & try to approve i.e. beat cap 1 finance? Any other good options for auto finance. Will I definitely be approved when I go to dealer? Thanks much!

Re: Capital One Auto Navigator

ptch7116 — Thu, 22 Jun 2017 21:52:22 GMT

I would be upfront about the pre-qual, and see if they will compete by offering BOTH a better interest rate, and of course, an acceptable deal on the car.

I just purchased a new car on Monday. Of course, I was worried about embarassment, but I found it just wasn't a big deal (at all). They want it to work, as much as you do.

Re: Capital One Auto Navigator

Anonymous — Thu, 22 Jun 2017 22:09:37 GMT

Great, thanks for the input. Will probably be upfront, hopefully it will all work out. Anyone know if those APR rates ar considered decent considering recent discharge and no credit.... ONce we get the auto loan approval, hope to see credit rebuild kick in a little....

Re: Capital One Auto Navigator

kberly69 — Fri, 23 Jun 2017 00:16:05 GMT

I used them as well for my car purchase 3 months after discharge. I did tell the dealer and he ran my credit and came up with all denials except one at a rate almost twice what I got from Capital One. I feel like anything in the single digits is good that close to discharge. I got 4.24% on a 2014 Escape for 72 months with nothing down. He told me he had someone coming in later to buy at 20-some%, which has to make for an ugly car payment! I've been totally happy with them.

Re: Capital One Auto Navigator

Anonymous — Fri, 23 Jun 2017 00:45:02 GMT

Thanks for making me feel better . We really need a SUV to replace our suburban, but most of the ones available on the website are former Rentals with high mileage. We'll keep looking on the site, maybe something else will pop up. Thanks for the information!

Re: Capital One Auto Navigator

Anonymous — Thu, 08 Feb 2018 18:00:31 GMT

I just used Capital One Navigator this week to purchase a new vehicle. First of all, it was a very easy process. Just apply and get pre-qualified. My rate was 4.28 to 8.78. 16 months after Chapter 7. The salesperson ran my info thru Cap 1 after I chose the car and came back with a 4.77. He asked me if I wanted him to check and see if he could get a better rate and stated this would result in multiple hard pulls. I use a few free credit monitoring sites and i just received an alert after he put my info into Cap 1. Multiple pulls within a 14 day period for Auto loans only count as 1....so I gave my approval, but nobody could beat the 4.77. It was a stresd free once I found out my rate. FYI....if possible..have finance approval before you step into the dealership. Some Dealerships have relationships with banks and credit uions and can receive monitary rewards/kickbacks for getting buyers approved. Example: ABC credit union approves my application for 3%. The Dealer knows I was approved for 4.77 from Cap 1. The dealer tells me the Credit Union approved me for 4%. I accept. The dealer gets a bonus of $250-$500 for getting the Credit Union the extra 1%. I learned this from a previos Auto Finance guy.

Re: Capital One Auto Navigator

Anonymous — Fri, 09 Feb 2018 19:01:04 GMT

DH and I bought a car thru Cap One within 2 weeks of BK13 discharge. Super easy! Once we picked a car, the dealership ran it thru cap one and we got a 4.9 rate. They tried to beat it but couldn’t. I caution you against letting them run your credit though...we had tried with a couple other dealers before finding cap one and ended up with multiple hard pulls for auto loans NOT coded as auto loans by various banks.

We refinanced with PenFed the month after approval for a 2.75%. Super easy! Doubt they would have approved us for the original loan but they had no issue taking on an existing loan. Good luck!