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Cap One approval.....***UPDATE*** You need to read this !!!!

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Doodles
Established Member

Re: Cap One approval......questions *** little update #2***

I have done three loans with C1.  One in dealership (Carmax) and two blank checks.

 

They hare professional and very easy to deal with in every way but one.  The interest rates are super high for those of us who are rebuilding.

 

That said, I have nothing but good things to say about them.  The blank checks are legit and you scan and upload supporting info like paycheck stub, drivers license copy and 3 references.  Easy as pie.

Starting Score: 529
Current Score: 631
Goal Score: 740


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Message 21 of 25
Anonymous
Not applicable

Re: Cap One approval......questions *** little update #2***

How did the process work for you? I posted on the main board and have gotten 0 information. I got approved for a loan through Capital One for between $4000-$40,000 with varing rates of 2.78%-8.58% depending on length of loan, year, and so forth. I'm averaging about 4.62% at the vehicles I'm looking at. Can you give me any information as to how your deal worked out? Thanks.

 

Message 22 of 25
JOHNINAZ
New Contributor

Re: Cap One approval......questions *** little update #2***

Based on what Cap One told me they do NOT do blank checks anymore. They approve you, send you a link, you find the car a dealer they work with and can get the financial info on there payment calculator. Months, amount, payment and percentage rate based on your approved can be seen there so you know going into the dealer. All I took with me was (on my phone) the copy of the email they send me with there approval number and how much I was approved for. The approval number is all that is needed at the dealer since they have an agreement with Cap One.


Starting Score: 539
Current Score: 645,630,615
Goal Score: 750


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Message 23 of 25
Anonymous
Not applicable

Re: Cap One approval......questions *** little update #2***

Yeah, I remember the black check with cap 1......and NFCU. IMHO, I hate it when you are tied to a imited number of dealerships. The last time I needed a 2nd car, I ended up getting a personal loan instead so I could get a inexpensive car off craigslist. 

Message 24 of 25
34Roses
Contributor

Re: Cap One approval......questions *** little update #2***

I recently purchased a car using Cap One Auto Finance 2 weeks ago.   A car was not on my radar for at least another year but my 10 yr old car with 215,000 had other plans.  Especially since my CH13 was discharged in Dec.  I was getting tons of offers to purchase a car and I would put them in my "just in case" file.  CapOne AF was one of the offers.

 

I was originally approved with Wells Fargo Dealership Services but at a high interest rate and denied by a few other companies at this particular dealership so I just started shopping around and applied with regular Wells Fargo and was denied.

 

I applied with CapOne AF and instantly approved with no down payment and a lower interest than Ally and WFDS.  The process was flawless.  I was approved up to 40K but I already knew I was not going that high and not purchase brand new.   When I finally found a car I got a sales quote (that paper that the sales guy fills out with price, etc.) in writing it was all processed with no issues.  There was no blank check given to me the dealership goes online and process everything and the numbers have to be an exact match to what was given to you.  No bait and switch, price and interest rate all the same.   So now I have set up my account online and getting ready to make my payment next month.

 

I have nothing but good things and a good experience with CapOne AF.  I had to get a car and they helped and it worked out perfectly.:smileyhappy:


rebuilding financially
Goal Score - 770 #claimingit
DiscoverIT, Barclay Rewards MC, Cap One QS
Message 25 of 25
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