Question regarding Cap1

Anonymous · ‎06-07-2015

First let me say that I'm very excited. My BK7 was discharged in Nov. of 2014 and I'm in the process of trying to rebuild. According to Barclay my FICO is 636 (TU). I have no idea what my auto-enhanced scores are. I had many car loans and leases prior to my BK7, but I did include a car in the bankruptcy that I did a voluntary surrender on.

But my car decided to get me aggrevated enough that I'm just going to buy a new car. So I tried Cap1 and got approved. What I don't understand is the interest rates. For a 72 month loan it showed me 4.5% for a Hyundai Sonata or a Subaru Legacy. But the rate for a Nissan Altima was only 3.82%. Believe me, I'm not complaining. I think those are great rates all things considered. I'm just curious as to why the Nissan would have a better rate.

SamsungHDTV · ‎06-08-2015

The only reason why I can think of for the different rates is the difference in vehicle value. LTV will affect the rate greatly. I'm assuming (without looking up the exact vehicles) that the altima is worth more than the other two vehicles. If you could provide more details on the loan amount, collateral values, any down payments, etc - I might be able to get a better idea. Or, you could also call customer service to find out why.

Anonymous · ‎06-08-2015

Actually the Altima (lower rate) was the cheapest of the 3 cars. It's not a big deal, just a curiosity. I ended up leasing anyway and not using Capital One.