Cap1 Auto

[Anonymous]

They pulled all three for me, and I was in the latter part of the 500s at the time.  I got a rate of 13.45% which I paid for 3 months, then refinanced with Firstmark Credit Union at 7.1%.  I thought the Cap1 program was great, though.  I keep reading their credit cards are horrible, but really I like this program, it's efficient and can save you money at the dealership.

[Anonymous]

WOW!  You guys have been SO helpful!  All the questions I've wanted to ask, but didn't know where to start!  Thanks for posting this thread, and thanks to all of you who've replied!  Will be applying next month.  My lowest FAKO is about 650, and I have never had an auto loan.  My biggest concern is my BK discharged in 06.  Never a late or a missed since!  *fingers crossed* Hopefully I have the same success as you all have had!

[Takunda1]

Car max is an approved dealer with COAF. We have a "specail arrangement with them" At carmax you can go with tout the blank check because their car prices are non negotiable. They'll run your credit through about 5 lenders then you get who ever offers you the lowest rate.

[Anonymous]

Takunda,

Do you work for Carmax?  I like dealing with Carmax..I bought my first car with them.

[christypagano]

I had a bankruptcy discharged in Feb 06 and got approved in Dec 06 and Jan 08 with them.  The process was great!! Income has to verifiable though.  W2's etc.   You send everything to them by fax and you'll know if you are approved in one minute!! Good Luck!!

[Anonymous]

christy,  did you do the blank check program with them or the regular finance and what were your scores?

[Takunda1]

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GETNUMBERSUP wrote:

Takunda,

Do you work for Carmax?  I like dealing with Carmax..I bought my first car with them.

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No I work for Cap One Auto, but I did buy a car from Carmax & it was a very smooth transaction.

[Anonymous]

what's the minimum fico that cap one auto accepts..i hear they pull all three FICO and take an  average..

[Takunda1]

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GETNUMBERSUP wrote:

what's the minimum fico that cap one auto accepts..i hear they pull all three FICO and take an  average..

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This is true, but it also depends on the whole credit picture. Due to the current economic issues, COAF is actually cutting down by 50% on the number of loans they are giving out this year...somewhere in the line of only 7000 loans, so I figure most applicants are going to need to be prime to qualify.  I have seen scores as low as 620, but I'm not sure if thats the minimum requirement. I'll ask someone iin Loan origination and get back to you.

[Anonymous]

sounds good..sent you a pm