Capital One Pre-Qualified Amount Decreased

[geminiash1]

I was pre-approved for Capital One Auto Loan for 25k.  I was finally able upload my documents which verified everything that I had indicated in the pre-approval application but now the amount has dropped to $4,164!! All of the information is exactly the same and it still states that my document upload is in progress.  Has anyone else had this experience?

Also, are there other places that anyone can recommend besides NFCU (I was denied) for pre-approval/auto loans?

[Loquat]

I would call CapOne and see if this is an error.  I don't understand how it could drop to $4k when I thought CapOne had a minimum of like $7.5k on auto finance. 

[bigpoppa09]

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@geminiash1 wrote:

I was pre-approved for Capital One Auto Loan for 25k.  I was finally able upload my documents which verified everything that I had indicated in the pre-approval application but now the amount has dropped to $4,164!! All of the information is exactly the same and it still states that my document upload is in progress.  Has anyone else had this experience?

Also, are there other places that anyone can recommend besides NFCU (I was denied) for pre-approval/auto loans?

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I have seen them do this before the prequal gives u one amount but when u submit POI they drop the approval amount most likely reason Income and DTI.

[pipeguy]

Pre-qualified is not pre-approved as far as Cap-1. When I was shopping my last auto loan just for yucks I did the pre-qualified thing on Cap-1's site came back at 8.99% and included a bunch of "what-if's" in the terms - I was going with DCU anyway which was actually pre-approved at 1.99% upto $35k which clearly stated terms. 

[geminiash1]

Thanks everyone! It went back up to 25k but I'm worried that when I actually get to the dealership, I'll have issues. The income is there, it's just my score isn't great. Thanks again!

[Anonymous]

Did you have any issues when you went into the dealership? Ive been pre-qualified for 18k but Im nervous that once I actaully try to get the vehicle ill be denied