Capital One

[Jpmack29]

So capital one approved me, they said I need to provide no proof of income. Will the dealer still want to see proof of income? And what is the preferred course of action when I attempt to buy the vehicle. Say pull my credit/ I have outside financing and that is that?

[Dj4Money]

 It's doubtful the dealer will make you produce income reports, check stubs or income tax returns with scores like yours.

 Be sure to share your approval and post a picture.

[Anonymous]

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@Jpmack29 wrote:
So capital one approved me, they said I need to provide no proof of income. Will the dealer still want to see proof of income? And what is the preferred course of action when I attempt to buy the vehicle. Say pull my credit/ I have outside financing and that is that?

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I guess not if Cap1 already provided you check, they're the one who's gonna do your financing not the dealer. Unless you want them to run your credit if they can beat what Cap1 offered you.

[Anonymous]

If you go with Cap One, you are already financed, the dealer will not need any information. Consider Cap One as a blank check, and use it to your advantage during negotiations. Good luck!

[Anonymous]

I'm not sure of the interest rate you received from Cap1, but make sure it's the best you could get. Don't forget to check your local CUs. Best of luck!!!

[Jpmack29]

Well, capital one approved me for $21k, I wanted a 2015 Toyota Camry fully loaded. That was not enough since I didn't qualify for the major discounts. Already graduated college past their time frame and no prior military. Let them give it a shot and they got me approved with south eastern Toyota- 5% financing. I ended up happy. Thanks 

[Anonymous]

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@Jpmack29 wrote:

Well, capital one approved me for $21k, I wanted a 2015 Toyota Camry fully loaded. That was not enough since I didn't qualify for the major discounts. Already graduated college past their time frame and no prior military. Let them give it a shot and they got me approved with south eastern Toyota- 5% financing. I ended up happy. Thanks 

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Congrats to the approval!

[Anonymous]

Congrats on the approval. With those scores and an approval like that, it makes me hopeful for the future. I plan on using Cap One next year to buy a 2011 or newer Dodge Ram 2500-3500 cummins. I have to pay off my 4th car loan with another (subprime) company and want my scores to be around 750. I didn't know that they don't ask for income verification if you have scores like yours.

[Jpmack29]

Nope- nothing required. Although my ultilization is always under 8%, I only had a school loan laid on time for the past 2 1/2  years and a house I paid off. I have no real bills so my dti was low. I put 2500 down on my credit card. Got a good prime lender and decent interest rate. Pushed for 75 month financing for lower payments knowing, that I will easier pay it off well befor that. But yeah, take encouragement from me

[Anonymous]

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@Jpmack29 wrote:

Nope- nothing required. Although my ultilization is always under 8%, I only had a school loan laid on time for the past 2 1/2  years and a house I paid off. I have no real bills so my dti was low. I put 2500 down on my credit card. Got a good prime lender and decent interest rate. Pushed for 75 month financing for lower payments knowing, that I will easier pay it off well befor that. But yeah, take encouragement from me

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Cap One has always been great to me and I would love a car loan with them.  I will be making 63k per year starting next year. So that should get me my truck.