No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I was recently approved for a $10K loan from Capital One.(FICO score - 670)
Went shopping yesterday and bought a car from a dealer ( only a verbal agreement over the phone later in the day) only to find out they were not on the Capital One perferred dealer list. Crap!
I sent C1 the dealer info.....Is there a chance they accept them even though they aren't listed?
I keep seeing all over the net that people are receiving the pre-approved letters from cap1. I have been getting them via email for 3 months now, this time I responded and set up an appt with the dealer listed. I'm curious as to if this will be a waste of time or not??? My score is bad I'm rebuilding my credit. I surprisingly was approved for a loan and a card from cap1 both 4 - 5 months ago. Found out today I only have 2 things in collection both medical. Anyone who is familiar with the process what are the chances I will get approved for an auto loan???? Any advice is helpful
Thank you in advance,
Newbie
@sbluejean wrote:I'm an Internet Sales Manager for a Ford Store. We are also a "Platinum Dealer" with Capital One Auto Finance. We hold a number of Cap One "Pre-Approved" sales events during the year where pre-approved customers are directed to our dealership to buy their new or used vehicle. The checks to which you are referring are absolutely legit. However, there are (as you will no doubt find out in reading all the fine print) "Conditions" and "Stipulations" (stips, as we lovingly refer to them) attached to each pre-approval, i.e.. year model range, mileage, vehicle class (Forget about financing a 1 ton truck or Cargo Van, they won't do them, period), etc.
Once you have picked out the vehicle you want, the Sales Manager or Finance Manager has to submit the vehicle and purchase money structure to Cap One for final approval. In most cases, things go smoothly and the customer takes delivery of their new vehicle, but there have been hiccup on occasion.
Also, depending on your score, in most cases we have been able to get that same customer approved with other lenders (including "prime" and not just sub-prime) with whom the customer got better terms and a better rate. So, do your due diligence. A "Pre-Approval" check is actually your opportunity to "better deal" the lender.
...Just Sayin'.
@Anonymous wondering, is that with ONLY the pre-approved checks? WE financed a chevy silverado 3500 with cap 1. @ 14.99 percent. Didn't use the pre-approved checks.
@Anonymous now refied with CU @ 5%.
Will I be able to get a loan from Capital One with limited history?
How is getting the Cap1 preapprovals in the mail/email different than going to their website and applying for a car loan? I see some people get the blank checks, but I get the preapproval emails and letters every month. Same amount, different dealer each month. These last few months have not been with the dealer of the car that I want, so I haven't responded yet. I'm wondering if I should go to the website and pull for my own when I'm ready?
I finally responded to a C1 email and proceeded to call the dealer listed. I went Friday and was there for 2 hrs, all worth it cause they got me a loan and car. Everything is within my range. Loan approval with a myfico score of 505 & credit karma score of 517. You never know until you try!
Beauty,
how much were you approved for?
Pjackson ...... 17,000 & Epcot thank you. It's a huge stress off my mind
@Anonymous wrote:Pjackson ...... 17,000 & Epcot thank you. It's a huge stress off my mind
And how much was the interest rate?