Using capital one auto loan

[Anonymous]

Hello all, i'm new to the club here.

Anyway, i was approved by capital one which i am excited about. For anyone that can help me answer this. I talked to capital one about this but unsure if they understood my question. They use LTV(loan to value) formula for max loan on a particular car. when buying a used car such as a 2006 dodge charger they go by the NADA clean trade in value multiplied by 110% and that is the amount they loan. Now i know the amounts on NADA's site are based on national average but i asked capital one if they go by the base price (ex. 14275 for charger) or the total price which would include the adjustment of price due to high/low mileage and factory options. She said the lowest price which i'm assuming the base price. They are asking 16900 for the car. We are going to start at 14500 and go from there. I guess my question really is, for those who have used capital one, what amount did you see them using at the lot. I know the dealer has to fill in and make sure the amount we agree on is in within the 110%. Please help, hope i explained myself ok.

thanks all

Ed

[Anonymous]

From a dealrship standpoint we used a "book out" sheet that listed all the particulars and plusses of the vehicle.

I am sure CAP One has something similar in mind since some vehicles can see a 10,000 swing in price difference between a base manual model with no A/C and a mid tier level vehicle.

[Anonymous]

So essentially it sounds like what i see on NADA, increase in value due to certain features. Thank you for your help, anymore thoughts and experiences are welcome, keep them coming, going to the dealership tomorrow to get my awesome deal done.

Ed