Capital One Auto Refinancing- Recon number?

[Schoolbuskid]

My mom wants to refinance her current loan and she was turned down by capital one! Do they have a recon number we could call?

[Anonymous]

Hi Schoolbuskid... I can tell you about my experience with them.  I am on my third

car loan with Cap 1... all current.. never a day late.  I want to trade in my current

vehicle, so, I have been shopping around for a new loan.  I have been denied by

Cap 1 .. which I find really odd.. since my credit situation is better than it was, my

scores higher, my utilization down to as low as it has ever been and I have a history

with them.  Any way, I called and they told me they do not recon.  Everything is done

by computer.  No manual reviewing.  I find that odd, but, that's what I was told.

She said... there is something the computer doesn't like on your application but I

can't tell you what it is.. we have no info.  They are absolutely no help at all.  So,

there you have it.  If you have better luck than I did, please post your experience.

I ended up getting approvals from Roadloans and Toyota so.. Cap 1 can sit and

spin!

[Schoolbuskid]

whats were your scores at the time of your toyota app?

[Anonymous]

COAF Never does recons....scoring is done by a scoring system...either your approved or denied. I had an auto i just refid with them for about 1 year,cant remember what my scores were but im sure they were alot less than your mom's...i only had 1 credit card at the time. All the best.

[Schoolbuskid]

i guess their computer system looks for certain things....its just silly!

[Anonymous]

whats were your scores at the time of your toyota app?

 

My Mothers Fico's When We First Started TU-513 EX-503 EQ-467

My scores were a lot lower than your mom's are.  At the time of my Toyota

approval... mine were EX 610/TU 559/EQ 544 (I hate Equifax!!!).

[Schoolbuskid]

She should a good chance with them....do you have any auto repos? She has one, dont know if that sends a red flag or not!

Well i dont think her problem is getting approved its just that the car she is trying to trade has too much neg equity, and see she trying to put no money down, which isnt really helping!

[Anonymous]

Hey Schoolbuskid... I don't have any repos.  I had a BK 3 1/2 years ago.

But, my auto credit is pretty strong (even if my over all scores don't reflect

that much).  I have bought and sold a lot of cars.. lot of loans taken and paid off.

I too am battling the negative equity on my trade in.. I have a big Dodge truck

that no dealer wants (great truck but I want to go back to an SUV which makes

more sense for me).  Good luck your mom!

[Schoolbuskid]

Thanks!