Capital One Auto Navigator Pre Approval

[Anonymous]

My current FICO score is 654 and I got a pre approval from Capital One Auto Navigator.  I used their website and put in the VIN # of the car I would like to purchase and received the approximate APR.  Does anyone have experience with this?  Is the pre approval for real?  Has anyone been pre approved and then denied at the dealer?  What about the APR, is it close to what it shows on the website once you actually purchase the vehicle?

[Anonymous]

I just bought a car last week with capital one. I put in the car vin that I purchase and the apr was exactly the same as I was told at the dealership.

[Anonymous]

Thank you for your response.  My credit is challenging right now and thought the pre approval was too good to be true.  Did everything go smoothly at the dealer?

[Anonymous]

Does anyone else have any experiences with Capital One Auto Navigator Pre Approvals??

[MakeItAMudLight]

Did they ask for any documents?

[Anonymous]

I had to upload proof on income.  I did and it was accepted.

[MakeItAMudLight]

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@Anonymous wrote:

I had to upload proof on income.  I did and it was accepted.

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Then you should be good to go!

[Duke84]

I bought my '16 Altima a few weeks ago and used the Capital One preapproval as leverage. The dealer was able to practically match the rate Capital One gave me and lowered the price of the car by going with their financing.

[MakeItAMudLight]

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@Duke84 wrote:

I bought my '16 Altima a few weeks ago and used the Capital One preapproval as leverage. The dealer was able to practically match the rate Capital One gave me and lowered the price of the car by going with their financing.

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This is the best way to use the Cap One preapproval because if they can beat it they defintiely will. 

[Anonymous]

Just bought my car last night. I was happy that I had saved the cars I was interested in because the dealer tried to claim the lowest they could give me was 3.02%/72mnths and pymnts of $238. I walked out with 1.99% and my pymnts are $195. I got a 2015 Mirage. Since I have had a cap 1 CC for a long time I didn't have to provide any additonal information. They ran Experion for my scores and without Cap 1 I wouldn't have gotten that interest rate. My Experion score is 605. The dealer was surprised I got that rate and didn't even try to beat it.

I'm probably stating the obvious here but the newer the car, the lower the APR. I stopped looking at anything older than a 2013 because the interest rate would double even with low milege.  If I stayed in 2014/15's I got number in the 2's. 2013's under 40K miles I got apr's in the 3's . After that it jumped up to 5's . In the end it was worth it to buy a newer car.