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Capital One Auto Navigator success!

WarthogWrangler
Contributor

Capital One Auto Navigator success!

Just wanted to share my experience with Capital One and their Auto Navigator system.   I have been rebuilding my credit for not long now, maybe about 9 months.  My current scores were upper 500's and low 600's at best on all three.   I wanted to get my wife into a nicer newer car for traveling to work since she commutes very far every week.  

After getting denied by USAA and Penfed for an auto loan I decided to try Capital One and their Auto Navigator.  I was skeptical since I had so much bad stuff on my credit from a year ago but I do have two capital one cards that have never been late and always paid off every month.  I was pre approved for up to $35000 with a 7.8% interest rate.  

Took my offer letter in to the local Infiniti dealer today and walked right out with a used 2018 Infiniti Q50 3.0 Twin turbo all wheel drive for 7.8% 60 month and $2500 down.  It was the smoothest and most hassle free day of buying a car I've ever had.  This is the way car buying should be and you shouldn't have to ding your credit only to be denied.  I'm starting to think USAA isn't all it's cracked up to be anymore.  

Message 1 of 15
14 REPLIES 14
Hasselfree
Valued Contributor

Re: Capital One Auto Navigator success!

Congrats!  I agree with Auto Navigator and the easiest way to buy a car!  I have 2 loans using Auto Navigator!!  I was in and out of the dealership the first time in 30 minutes and the second time 4 months later was a bit longer, but the dealership was trying to upsell their crap to me.  It was so empowering walking into the dealerships with approval in hand and being in control. 




"Your ego is writing checks your body can't cash".
Message 2 of 15
MitchDeerfield
New Contributor

Re: Capital One Auto Navigator success!

Didn't the dealer try to undercut Capital One's interest rate offer?  That's what they did with me.  They put me in with BofA by shaving off one tenth of a percent.

Message 3 of 15
Hasselfree
Valued Contributor

Re: Capital One Auto Navigator success!

I got the lowest rates Cap1 offers for getting both loans on my own w/o my husband being on the notes and that was important to me.  First vehicle is a 2015 Traverse and second is a 2017 Taurus still under warranty (only had 7k miles).  I did a 4 yr loan on the Traverse because we were paying off a loan shortly after but before we did that the car got totaled and hence the second vehicle loan. 
My husband has awful credit that I have been trying to clean up and hopefully by the end of this year it will all pay off. 




"Your ego is writing checks your body can't cash".
Message 4 of 15
WarthogWrangler
Contributor

Re: Capital One Auto Navigator success!

No I specifically told them to only run it through Cap1 and that's all they did.  I don't care if someone had a better rate 7.8% is more than better than I should qualify for with my scores so I wanted to stay loyal to Cap1.  

Message 5 of 15
Shooting-For-800
Senior Contributor

Re: Capital One Auto Navigator success!

I too use Cap One Auto for a DWs new car.

 

Extremely easy, great rate for 72 months (2.49%), no money down, no hassel.  

 

Cap One has treated me like a king since my rebuild and I will stay loyal as long as they do.

 

Congrats!

 

 

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship, Synchrony, Evergreen, & Venture



Message 6 of 15
Remember0
Valued Contributor

Re: Capital One Auto Navigator success!

Whoa, 2.49% for 72 months? That's only about 10 bps higher than the equivalent US bond yield. It is almost certainly lower than the 5 year LIBOR swap (ie, the rate banks charge each other to borrow money).

 

@Shooting-for-800, mind if I ask if this was recent or a little while back when interest rates were lower? If recent, probably makes sense for anyone looking at a auto loan even with good credit to run through Capital One's pre-qual since it does not even cost a hard.

Message 7 of 15
Shooting-For-800
Senior Contributor

Re: Capital One Auto Navigator success!


@Remember0 wrote:

Whoa, 2.49% for 72 months? That's only about 10 bps higher than the equivalent US bond yield. It is almost certainly lower than the 5 year LIBOR swap (ie, the rate banks charge each other to borrow money).

 

@Shooting-for-800, mind if I ask if this was recent or a little while back when interest rates were lower? If recent, probably makes sense for anyone looking at a auto loan even with good credit to run through Capital One's pre-qual since it does not even cost a hard.


2 years ago.  Venture was at 13.99% then too.

 

Not only a fantastic rate but my scores were below 700 at the time!

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship, Synchrony, Evergreen, & Venture



Message 8 of 15
aynot4fitness
Valued Member

Re: Capital One Auto Navigator success!

Congratulations!!! It feels so good, right?

 

I have nothing but praise for Cap 1 Auto Navigator. I used them for the first time in 2009, while I still had a CH7 reporting. I shocked to be approved at all, but even at 10.8% interest for up to $25K, I was ready to jump on it. I used them again in 2013. The BK was gone and the interest rate came down to 8.9% for up to $35K - not great, but ok. So naturally I went back to Cap 1 last January and was approved at 4.1% for up to $40K - nice! However, Audi Financial beat them out at 3.9% for the $37K I made, so I left Cap 1 Auto.

 

I liked their service. BTW, they let you do autopay monthly, semi-monthly, bi-weekly or weekly. If you do bi-weekly or weekly payments, you actually accrue payments ahead of the payment date. So over time, on your statement you'll see something like "this November 15th payment is for the Januay 5th due date". Makes it hard to miss a payment, pays the loan down faster, and helps your credit score. Anyway, enjoy your sweet ride!


:
:

Starting Score: 619
Current Score: 668
Goal Score: 700


Take the myFICO Fitness Challenge
Message 9 of 15
Dirge
New Contributor

Re: Capital One Auto Navigator success!

I'm glad to hear that it worked for you. I recently decided to put $1800 into my 2002 car and try to baby it along for a few more years, rather than get another car, but when I spring for another car I'll definitely try Cap1. They've been great to me since my BK7 in 2012 for astronomical medical debt. 

 

I know that a lot of people don't like Cap1, and I wouldn't use them if someone else was lower, but they've been good to me and I will definitely give them a try when I'm in the market for another car, even though I expect my scores to be better. There's definitely a place for them in the market. 

Message 10 of 15
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