Cap One Auto Navigator Pre-Qual

[faithincredit]

I was recently approved for up to $20,323 with an APR Range of 6.38%-15.17%.  They have received all my documents. Myfico Auto Score 8 have me at Ex570, TU585 and EF879.  My monthly income is about $2200 per month.  I only want to buy a car nelrly $15,000 not the full $20,323.  Is there a big chance that I will be asked for a down payment when using this offer? Does anyone else have experience with Cap1 requiring to put a down payment?  

[faithincredit]

I really need help here.  My car might still be in workable enough condition to trade in but I need to get a new car fast. BUMP

[Anonymous]

Whoops, sorry for the blank post. Dang mobile devices!
Anyway I think if the car you want costs less than your approval, they prob won't require a down payment. Not 100% positive but I think you should be okay.

[Anonymous]

Congrats! I got approved for similar numbers but I have to wait for my first pay stub I start a new job 4/11 until I can actually finish the loan.

[faithincredit]

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@Anonymous wrote:

Congrats! I got approved for similar numbers but I have to wait for my first pay stub I start a new job 4/11 until I can actually finish the loan.

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I'll keep you posted on how it goes.  I will be hitting the dealership tomorrow.

[Anonymous]

Great good to know if its an actual approval or a pre-aproval gimmick

[faithincredit]

Just got bad from the dealership.  Capital One $0 down.  Got a 2012 Honda CR-V LX, 33,000mi, $14,999, 9.35%.  Noone hassled me for a downpayment.  They only ran my info with Cap 1 thru Equifax (608).  He was able to keep me right under budget at $347 monthly.

I am happy with my purchase because I know the alternative of breaking down on the side of the road is just unacceptable.  

@matthewandalex59 I hope this helps. 

[Anonymous]

Congrats!!!!  Was it with your original capital one offer or they ran it again through there own system?

[Anonymous]

And did the dealer ask for proof of income if it wasnt thru Cap 1's pre qual site.