Capital One Auto Navigator

[tschaet]

I filled out the pre-approval and was approved for $55K.  Does that mean I should be fine going to the car dealer and showing them the letter and going through the process?  Or, is there a possibility for Capital One to still deny once they run the hard pull?

[Anonymous]

Use the auto navigator to whittle down the list, figure out the payment offers on the cars you might want. It'll give you a baseline.

Or use that as ammunition to see if their in-house finance can beat it, since unless they're a CapOne partner they might be less excited about you having your own financing.

[Loquat]

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@tschaet wrote:

I filled out the pre-approval and was approved for $55K.  Does that mean I should be fine going to the car dealer and showing them the letter and going through the process?  Or, is there a possibility for Capital One to still deny once they run the hard pull?

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@tschaet CapOne is really good at vetting customer through their online navigator process.  While there is always a chance for things to go south, as long as you provided factual information and nothing substantial has changed since the time you were prequalified through the navigator, you should be fine.

The navigator process as you know does require that the dealer run your credit.  Chances are they will ask if you'd like for them to shop your credit for a better rate.  I should say, at least the good dealers ask, others just do it without any kind of consent.  Again, as long as your information is still about the same then the process is pretty easy.

Best of luck to you as you move through the buying process.   Feel free to come back and share pictures after you pick out a new set of wheels.