CapitalOne Financing

[costanZo]

I didn't realize this until now; but the financing I originally qualified for through CapitalOne was from a dealer for the original Viper I planned on getting close to my house. However, the car I plan on buying now is not from a dealer, it's from a private sale. The check CapitalOne sent me in the mail is to be used at an actual car dealer and not through private sale; so I'm not sure if that's a huge issue where I will have to re-qualify for a completely different loan again or CapitalOne just sends me another check in the mail geared towards a private sale and not a dealer. I plan on calling them to find out, but they are closed today being a Sunday and I am very curious to know!

Would any of you know anything about this?

Thanks,
Anthony

 

[Dealmaker]

You need a different check for private sale. It will be a higher rate...about 3.5 points higher

 

[Nsane1]

Yeah, I think it's a scam, but most banks have 2 tiers, even for a brand new car...

Penfed.org has the same rate for both 4.99

 

[costanZo]

You need a different check for private sale. It will be a higher rate...about 3.5 points higher

Yup, your right I found that out. The interest will be slightly higher but what I mean is. Do I have to go and like re-apply for everything again and fill out a form? Or since I already did it once will they have me on file so they can just issue me another check for private sale instead of dealer and mail it to me without me having to do any work as in forms and such..

 

[FLX109]

You have to re-apply

 

[goldcup]

I had the same situation several years ago and they just overnighted me a new check.It was no big deal.Good luck

 

[PatentLaw]

Same as Goldcup. Not a big deal. I do have to say, however, that if you decide to pay off the car earlier, and then go for another CapitalOne loan in the future, THEY WILL GIVE YOU A REALLY HIGH RATE. They are in the business to make money and change their rates alot. I would not be surprised to see them try to charge a higher rate to you. Call them first.

 

[AFL in NJ]

I've posted about this before and have had private messages sent to me that backup what I said. Please go to www.penfed.org and get a car loan through them....my Viper will be paid off in 18 months and I'm at 5.29%.....I heard someone else got 4.99%!!

The only catch is you have to be a member, but by donating $25 to the Military Family Association, they'll make you a honorary member. (I saved $25 in interest with a single payment!!) PM me if you have further questions or just phone them....they are VERY helpful!

Regards,
Aaron

 

[ViperTony]

USAA is 4.24%.

 

[AFL in NJ]

That's a great rate!!

Regards,
Aaron

 

[Sellshomesdrivesviper]

If you go with CapitalOne, tell them to stop sending me daily credit card application approvals, which should then reduce your interest rate to 1.0% on the junk mail postage savings they would recoup.
They are the worse offenders for junk mail in the USA.

 

[costanZo]

I've posted about this before and have had private messages sent to me that backup what I said. Please go to www.penfed.org and get a car loan through them....my Viper will be paid off in 18 months and I'm at 5.29%.....I heard someone else got 4.99%!!

The only catch is you have to be a member, but by donating $25 to the Military Family Association, they'll make you a honorary member. (I saved $25 in interest with a single payment!!) PM me if you have further questions or just phone them....they are VERY helpful!

Regards,
Aaron

Hey Aaron,

I Just called and got qualified for my loan through Pentagon Federal Credit Union - www.penfed.org at a rate of 4.99%!!

Thanks again!
Anthony

 

[ViperTony]

If you go with CapitalOne, tell them to stop sending me daily credit card application approvals, which should then reduce your interest rate to 1.0% on the junk mail postage savings they would recoup.
They are the worse offenders for junk mail in the USA.

My wife and I each get app approvals from them twice a week. This has been going on since last summer. I've called their customer service and emailed about it to no end.

 

[AFL in NJ]

Congrats Anthony, enjoy the ride and such a great financing rate!

Regards,
Aaron

 

[kcobean]

If you go with CapitalOne, tell them to stop sending me daily credit card application approvals, which should then reduce your interest rate to 1.0% on the junk mail postage savings they would recoup.
They are the worse offenders for junk mail in the USA.

+1....I could wallpaper my house 3 times over with all the junk they send.