Capital one auto navigator approval

[Goeagles1231]

So I currently have a car loan with capital one but I am refinancing it with local credit union with my child for her first car. I currently applied forr car loan through the navigator and got preapproval of $35000 . Some reason when I look at cars on the navigator anything above $15 k says I need to up my down payment to get it under $15k . So it basically won't give me options for anything above $15k. Another question. Do these capital one auto loans ever get denied at dealership? 

[Shooting-For-800]

The better the car deal, the better your terms are.

I had no issues at the dealer on a new car with no money down.

I got like $9k off sticker price.

[Mjhall85]

I just used Capital one auto navigator about a month ago to finance my car out of BK, I found the car I wanted went and drove a few different ones went to the dealer that would give me the best deal,filled out the credit app said send it to capital one only and they did. Capital one came back with the exact numbers I saw on the website. As long as nothing significant changes from when you got the pre-approval to when you actually buy you will be fine. Also make sure all details match on the app at the dealer.

[bigred1967]

I'm about a week out of discharge and no prequalify for me on Capital One Auto navigator yet. I'm in need of a vehicle.

[Anonymous]

---

@Goeagles1231 wrote:

So I currently have a car loan with capital one but I am refinancing it with local credit union with my child for her first car. I currently applied forr car loan through the navigator and got preapproval of $35000 . Some reason when I look at cars on the navigator anything above $15 k says I need to up my down payment to get it under $15k . So it basically won't give me options for anything above $15k. Another question. Do these capital one auto loans ever get denied at dealership? 

---

i understand what you are saying. I feel like their blanket preapproval is 35k. When I did the auto navigator, essentially anything over 20k required a larger down. I feel like when you are looking at vehicles and see the down payment going up with the price going up, that is really what you are preapproved for. If you got 15k before down started going up, that is likely the loan amount they have preapproved you for.

[Grizzly1]

I'm not sure where you are credit wise but I'm in the looking phase and am also approved for $35k and even with zero down it shows me everything on up to the full 35k and my credit isn't the best in the low to mid 600's.

[Dj4Money]

 Depending what happen BEFORE your BK will determine what happens after you are discharged or even during.

 I was unable to find a bank or lender that would approve me before I was discharged. I waited 30 days after I was discharged and tried again. 

 
 No approvals from Capital One, but did from Carvana and Westlake via Carmax. Carvana high, high interest ment high downpayment and even then limited approval to about $13K TTL. There was nothing I wanted that cheap. I tried to find a car using Westlake I did but I couldn't get the pricing I wanted, new or used.

 I decided to wait six months, I applied again after the first of the year and after I got two more rebuilder credit cards. With 3 cards reporting I applied to Capital One and was finally approved but again beyond a certain point the IR went up and down payment did too. I tried to find a car all the way up to the last day, I couldn't get the deal I wanted.

 I was told to wait 30 days. I waited 45 days, I got a settlement check and the stimulus from CARES Act. Because the cards were reporting the oldest for six months and I paid my balances down to 8%, I re-applied to Cap One and bingo, everything lined up. Lower rates meant I could get what I wanted.

 I didn't have to put much down, they asked how much down? I said a number I was comfortable with and they said congratulations. It took a little longer because they had to prep the car, so in all about two hours. The car had been on the lot since it was built back in August of 2019, it was Red and Manual transmission that was likely why but because of that the price was low (below invoice).

[Anonymous]

---

@Dj4Money wrote:

 Depending what happen BEFORE your BK will determine what happens after you are discharged or even during.

 I was unable to find a bank or lender that would approve me before I was discharged. I waited 30 days after I was discharged and tried again. 

 
 No approvals from Capital One, but did from Carvana and Westlake via Carmax. Carvana high, high interest ment high downpayment and even then limited approval to about $13K TTL. There was nothing I wanted that cheap. I tried to find a car using Westlake I did but I couldn't get the pricing I wanted, new or used.

 I decided to wait six months, I applied again after the first of the year and after I got two more rebuilder credit cards. With 3 cards reporting I applied to Capital One and was finally approved but again beyond a certain point the IR went up and down payment did too. I tried to find a car all the way up to the last day, I couldn't get the deal I wanted.

 I was told to wait 30 days. I waited 45 days, I got a settlement check and the stimulus from CARES Act. Because the cards were reporting the oldest for six months and I paid my balances down to 8%, I re-applied to Cap One and bingo, everything lined up. Lower rates meant I could get what I wanted.

 I didn't have to put much down, they asked how much down? I said a number I was comfortable with and they said congratulations. It took a little longer because they had to prep the car, so in all about two hours. The car had been on the lot since it was built back in August of 2019, it was Red and Manual transmission that was likely why but because of that the price was low (below invoice).

---

DJ Money, just curious what rate Carvana had you at vs. Westlake at CarMax. Thanks. 

[CLARKakaSIX]

I'm pretty sure its based off your income. They will only allow you a certain monthly payment based off annual income, regardless of what loan amount your were pre-qualified for. I make about 42k/year and the max they will let me have for a monthly payment is $540. Im sure it varies person to person.