Capital One Pre-Approval - Is this a good as It gets?

[Anonymous]

So I wass pre approved through capital one. Trying to decide if I should just go with it, as I really do not see how a dealership can beat it, but I know they will try to get me to let them and then spam it.

Approved for up to 66,000

3000 down

Car prices range from 36000 to 42000

Typical rates (as always depends on the car but typical for I am shopping for)

60 months - 3%

72 months 3.15

82 months 3.55

Would a dealership really be able to beat that rate good enough to make all the hits worth it?

Honestly I will probably take the 82 months with the intent to pay as a 60. 

[pizzadude]

Are you shopping for a new car, or used / late model ?  What they'll offer will of course depend on your scores but I wouldn't be surprised if they can get you a better rate if you're buying new. 

[Anonymous]

buying new. All fico auti scores between 720 and 766

[Roadgeek395]

Those rates aren't bad. You might be able to do a little better if you shop around, but you won't beat those rates by much.

How does your credit profile look? Do you have previous auto loan history?

I have a auto loan through Capitol One and I'm happy with them.

[Anonymous]

I have 2 30 day lates on a car loan just over 2 years ago, but a long history of on time payments. I think I have about 5 paid car loans that still show up. The only other badies are 19 90 day lates from 3 years ago from student loans. Cc usage at 1%, 81, 000 income, DTI is fairly low, scores low mid 700s to 766 for auto enhanced. Thanks for the info.

[Loquat]

OP,

Does the captive lender of the vehicle you're purchasing not have any kind of special financing? Reason I ask is because with your scores (even with the late payments) you should be able to get a decent rate..even more so with low DTI.

Also, as an FYI, if you decide to go with CapOne, part of their program still requires the dealer to pull your report.