Anyone with experiance using Capital One Auto or HSBC Auto Financing?

[Anonymous]

I have a Cap One auto loan. They treat me OK. I can pay online which is nice, and they report to all 3 bureaus in a timely fashion, so all in all I have no complaints. I think at this stage I'd go through my bank, but my circumstances when I got the auto loan a year and a half ago limited my options.

[Anonymous]

When I went out to purchase a new car a couple of months ago, I applied with twelve different lenders.  Crap1 and Capone were the only one's to deny.  Not only did they deny, they took about 10 days to send me a letter in spite of having said that a rep would call me within 24 hrs to discuss the loan.  Crap1 is well known for treating customers poorly and charging higher rates.  I'm glad they denied, I financed through NMAC at 6.49% and later refied through NFCU at 4.50%! My EX score was 702 and FICO EQ was 698 at the time of the denials.  I had been with the same employer for 3 yrs.  I will never do business these loan sharks.  The name says it all: "Capone" 

[Anonymous]

Instead of buying a $20,000 car that will quickly go down in value, why not just buy a car for cash for $2000?  Keep it six months and without a car payment, you can probably save the $400 a month you would  have spent on payments.  Then take that $2400 and trade in your $2000 car for a $4400 car.  A year later again trade up with the money you saved on car payments to a $8000 car that is totally paid for. 

A FICO score is nothing more than an "I love debt score"  Pay cash and you win in the long term.

[VLGaffEsq]

I agree that PenFed is the best option, especially if you can get in; however, I bought a used 2002 Acura RSX using a "blank check" from CapitalOne Auto Finance for about $ 13,000 and it worked perfectly for me (the interest rate was a little high at 10%).  I always paid over the phone, never had a problem and recently paid the loan off in full when I sold the car.  Overall, I was a very satisfied customer (aside from everyone calling them "crapitalone").  I am a big fan of CapitalOne, with my auto loan and my two credit cards with an interest rate locked at 4.99%!  Good luck.

[Anonymous]

Hi, where did you get the GAP for $199? Thanks

[Anonymous]

I have had two auto loans with Chase. Interest rates were both below 8 percent. I had good experiences with them. A couple of times I was a little short for the month and I called them and they deferred a payment...adding it to the end of the loan. So I was able to skip that months payment without incurring a late fee or 30 day late on my CR.

[ReachingForTheStars]

Hi - I recently paid off my HSBC Auto loan. I financed $10500 in 2002. I paid $1500 down; and got a horrendous 24% rate. However, this was in the days when my score was sub-500, so I was happy to get a car . . . I had never financed anything, and was still showing a CO from Amex. Anyway, HSBC was great to me - I paid the huge interest rate for 10 months, then contacted them when I lost my job and couldnt make the payment. They dropped my rate to 0.06%, and rolled my three DF months to the end of the loan. I was so releived and lucky they didnt come get the car. I will not finance a car again while I am in rebuilding mode, but I would consider them in the future - provided I could get a great rate.

[Anonymous]

Check out promotional auto manufaturer financing. I just got approved by Ford Motor Credt for $37K at 1.9% for 60 months. They pulled EQ and I was at 675.

I was told before agreeing to let them pull my credit that an EQ of 630 would get 1.9% with a stable employment and address history.

[Anonymous]

This is just the start of the "super finance" deals that will be coming from manufactures.

They are in serious trouble-

GM dealer here is doing 6K cash back w/ 0% 60 months.

I am Holding out for the "At a huge loss and 0% financing Sale"

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@Anonymous wrote:

Check out promotional auto manufaturer financing. I just got approved by Ford Motor Credt for $37K at 1.9% for 60 months. They pulled EQ and I was at 675.

I was told before agreeing to let them pull my credit that an EQ of 630 would get 1.9% with a stable employment and address history.

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[jsmith12345]

I've used Cap One on several car purchases.  I've never had a problem, if the dealer gives me any grief I just stand up to walk out and they stop.  My rate has always been at 7.99% or lower except for the first time I used them and that was at 10.99%.  I've also used E-Loan in the past and they usually beat the Cap One rate. 

Side note:  I won't own a Cap One credit card.  Low CLI, crappy interest rate and lousy customer service.