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Capital One auto loan chances...

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Established Member

Capital One auto loan chances...

Hello all,

So I’m 5-6months post DC, I’ve been rebuilding well and have gone from around 550 to 600 average FICOs. The car that I bought out from creditor was recently totaled and I’m in the market for a new car. I took Capital One for about 4K on a QuickSilver IIB. I’ve changed jobs and got a 50% salary increase so I did a Capital One prequalify and it was approved immediately. I am doing 8k down on my next car financing 30k. I also tried CC prequalify with Capital One and I was “Approved” for a Platinum. I am more concerned about getting an auto loan because I don’t have a car now though. What do you guys think? Will Capital One loan me 30k after putting down 8k even though I burned them for 4K 6 months ago? Nothing so far has stated that they are not willing to work with me yet. I did try a prequalify about 1 month post DC and they said unfortunately they cannot find an offer for me.

Any suggestions?

Thanks!
Message 1 of 5
4 REPLIES 4
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Established Member

Re: Capital One auto loan chances...

Sooo I found a car I liked and applied, they approved me 6months post DC with a QuickSilver IIB great news!!! Now I have a different problem that I need advise on. The dealership that has the car is 600 miles away so I couldn't go sit at the dealer and talk numbers thus most of our conversations have been through the phone and email. I am already approved for the vehicle which they told me is available, I already gave them my debit card information to put a hold on the vehicle while I make arrangements for a PPI and travel, but for some reason they are still playing with the vehicle price online going from 37000 to 36000 to now 39000. I am getting the feeling that this dealer is just looking to bait and switch and will make me fly out 600 miles to tell me the car was sold or there was a mistake on the price. What do you guys think? They have decent reviews on most site, 4/5 give it or take and I couldn't find bait and switch reviews so what gives?

 

Thanks.

Message 2 of 5
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New Contributor

Re: Capital One auto loan chances...

Is there any way you may find a local dealer of the same brand, and see if they could maybe do a dealer swap? When they didn't have the car I wanted within 100 miles, they had it delivered from Vegas Desert Nissan, over 300 miles away. Most of the dealers work off the same system, so they can see what cars are at other dealers. If not, they may be trying to play with you till they get a chance to run your credit. Even with a pre-qualify from CapOne, i belive they still have to run it. But don't get hung up on it if you don't like the way they are treating you. Just go someplace else.

I am now called: Supreme Queen Platinum!
Message 3 of 5
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Established Member

Re: Capital One auto loan chances...

They have no dealers near me.
Well they actually did already run my credit and I was approved by Capital One. The only things that need to happen is me go down there and complete the paperwork and give the down payment.

Here is the text he sent me about my concerns “No the car will be sold at the price you saw when we made the deal! The price changes because of our marketing company , they price all of our vehicles to market so it looks like you’re getting an even better deal now! They just haven’t taken it off the internet yet because you haven’t signed all your paperwork” is that something that actually happens?
Message 4 of 5
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Member

Re: Capital One auto loan chances...

I would ask that your sales guy send over a copy of the paperwork to you signed by his/her manager. Have you seen the sales sheet yet or is the price they gave you just over email? 

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