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I currently have a vehicle that was financed last year using the Cap1 Auto Navigator. Ran the pre-qualify again and was told I qualify. Does that mean I can have two loans with them, or are they expecting me to trade in the car I have now?
I would say two cars if your income supports it.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
It would be for two vehicles. If you want a different rate or more credit you can call them and tell them you'll be trading your current vehicle in and they will calculate it based on that.
Thanks for the responses.
I let the dealer run an app through my current CU just to see what they would do. I was a little disappointed when the CU initially came back with a rate 4% higher than Cap1. The Finance Manager at the dealer called the CU and somehow got them to offer a rate 1% lower than Cap1. Car was purchased, and very happy.
@Anonymous wrote:Thanks for the responses.
I let the dealer run an app through my current CU just to see what they would do. I was a little disappointed when the CU initially came back with a rate 4% higher than Cap1. The Finance Manager at the dealer called the CU and somehow got them to offer a rate 1% lower than Cap1. Car was purchased, and very happy.
They were probably lying to you and padded the rate.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
@Shooting-For-800 wrote:They were probably lying to you and padded the rate.
What do you mean by "padding the rate?" I told them I was pre-approved with COAF and wanted to use that. They ran it through and were getting ready to send me over to the finance team to complete the paperwork. I asked them to run my CU at that time, and that's what they did. The CU rate I got ended up being 4.73% on a USED car when the CU's lowest rate on a NEW car is 3.99%