Capital One Auto Loan Navigator - Help!

[Anonymous]

Hello everyone,

I was just pre-qualified on the Navigator for $43,900. But when I went to start shopping for cars, every car I click on, even cars under $10,000, shows me a message similar to: 

"Monthly Payment is too high for this offer. Reduce monthly payment by adjusting Amount Financed by $8,130. †"

And that's on a $13,235 car! I've exhausted my brain's ability to figure out what I'm doing wrong here. Perhaps it's a glitch of some kind. I've done a google search (and a search on this forum) but haven't found anyone else who has run into this problem? Anyone know what might be going on here? Appreciate any help.

[Shooting-For-800]

Hmmm.

Make sure you are not shopping by monthly payment.

The newer the car and the better the deal, the lower you interest rate.

Clear out everything and start over?

GL!

[Anonymous]

Hey, thanks for responding. I actually called Cap One this morning and didn't get a very satisfactory response. What the woman I spoke with told me is the system seems to be requiring a trade-in based on my credit profile and depends on the dealer requirements. My "middle" auto-loan fico score (per myfico) is  664. What's weird is that if I put in a trade-in value of $1, the "build my offer" opens up all the vehicles to me with monthly payments, interest rates etc. I'm tempted to call specific dealers and ask them what they think; however, I'm afraid of getting sucked into another horrible loan. What I had found attractive with the Cap One process was the streamlined process, and hopefully bypassing the general unpleasantness of dealing with the finance people at the dealer. I've almost finished my 72-month Drive Time/Bridgecrest loan on my 2008 Camry Hybrid, which I've paid on time ($236 every two weeks) and I have no intention of trading it in. I do appreciate the suggestion but I may just wait a couple of months anyway and try again.

[Shooting-For-800]

They are probably saying you cant have two car payments perhaps based on a combo of income, debt, and scores?

It is not standard reply because I have a car loan with them and was just prequalified without the same calculations issues.

GL!

[Anonymous]

Same thing with me. I was approved for 33k, and the only way I can see anything is if I put in a trade.

[Dj4Money]

 I was pre-approved for $26,600

 When I use the Navigator search engine, I only get Jeeps, certain Dodges, Buick and Chevy vehicles. 

 Mostly SUV's, Journey, Trax, Compass, etc, etc. All under $18,000 

 That is with a payment up to $450, max payment is $418 on a Journey. 

 Seems Capital One is doing something with the local FCA and GM dealers.

 When I put in say Honda, I have to put down $3,000+ to get a $20,000 2020 Honda Civic LX

 When I look at the APR, it goes up slightly. This is what I mean by Capital One doing deal to push business to certain dealers. Which is why they dropped their old blank check system, they likely figured they can charge a fee like when they send out mailers but this model is closer to Truecar.

 Not concerned and neither should anybody, if Capital one will lend to you, somebody else will most likely the dealer's captive.