Please accept our invite to VOTE on our Capital One Poll! Here's the link: th-cam.com/channels/J6Su-8bINvXVXWf0peAIJg.htmlcommunity Poll results and any pertinent comments will be shared on our next Capital One video!
I have two cars financed through Capital One. The rates were 3% and everything was done on line. I walked into the dealerships and challenged them to get me a better rate and I would go with their finance. They could or would not. The experience was satisfactory and I look forward to possibly financing with them in the future. Good presentation.
Victor Cordero the key is giving 20% down not 0%. 20% yields you a better apr. the bigger the down payment and the better your credit score, the lower the interest rate.
I had a Cap One preapproval letter for a 3-year-old Toyota Camry. After we landed on what I thought was a fair price, they presented a better interest rate from a local credit union. The pre-approval letter at least let them know that I was very much a potential buyer. I feel like it worked to my advantage that day.
I was hurting financially and needed an extension on my loan to lower the cost per month on my payment. I went from 425 a month to 340 a month. Capital one worked with me. That extra 85 dollars a month was needed for my rent. They helped me through a rough spot I was in. As luck would have it I came into some money and paid it off early. That was my personal experience and I loved the peace of mind it gave me. Thank you Capital One. And yes Capital One made more money. In my mind that is fair!
Late to the party, but I bought my car with a Capital One loan. My interest rate is 1.9% which matched what my credit union was offering. I refused all the service plans and add ons they try to sell you in the finance room. I bought my car on a Wednesday and by Friday I was able to set up my loan online and use the app. I was able to set up a biweekly recurring payment and am on a schedule to pay the loan off in two years. I didn't do the pre-approval. I went to the dealer with a pre-approval from my credit union. They said they could probably match it and did with Capital One. I knew they wanted me to go with them so the could upsell but I knew I wouldn't buy what they were selling. All in all I'm more than satisfied with Capital One.
My last car loan was with capital one, I got the car I wanted, at the dealership I wanted to do business with. And to my surprise, got a lower interest rate than thought.
I've never used CO Finance but my brother has several times and was satisfied with them. But he had numerous problems with dealers hesitant about accepting them. They required him to still fill out a finance application so they could "positively ID him" and also claimed CO doesn't pay them for months. Of course these are lies just so they can run his credit so they can trick him into financing with them. They even refused to give him the car unless they ran his credit claiming they couldn't ID him otherwise. Just more BS from crooked dealers.
I work at a Dealership that uses Capital One. They only use banks in a network of approved lenders for them. They do not take outside lenders. But Capital One does seem to pick up more of the challenged credit holders. They do require common stipulations. Proof of residence, proof of income, proof of insurance. If you have a 700 or above there are better out there by far. But if you are building or rebuilding they seem to be the easiest and fair on interest rates.
I have had two cap one auto loans. just recently my 2008 Nissan started giving me problems and just wasn't worth fixing. I got pre approved thur cap one for a 3.16% interest rate on a 2019 Titan SL. My credit union and bank were actually around 3.5. Kevin, I used all the knowledge I gained from your videos to get the best deal on my truck. I got the dealer to come down 1600 on the price of the truck. I even walked away from the deal twice when I challenged the inventory tax (TEXAS) and doc fee. I didn't buy any of the bloated dealer stuff and walked away feeling really good about my purchase. Thanks to you and your team for coaching us on the proper way to deal with a dealership.
@@KevinHunter Here is food for thought that you taught me. I researched the price of the truck. I used kbb to get the trade in value for the truck and then added 1700 for dealer profit. I got my Titan SL for 34745+TTL. It only had 34680 miles on it and a one owner. Right now due to the chip shortage and manufacturing issues my truck has already appreciated 3500. The average truck just like mine is selling for 39 grand and above. Thanks again Kevin. Your information worked for me.
Hi there, I have purchased a few used cars through Capital one and have also refinanced a vehicle. I love how you can research vehicles and get an idea of what you may pay for the vehicle. The last vehicle I purchased I did not go through them because I was able to get a really good deal through the manufacturer. I do recommend folks to Capital one so that they can know before they go to the dealer.
Hrm...Maybe it's different if you have bad credit. I shopped around, and capitol one was lower than the dealer and my bank. My total loan for 5 years will only be ~$2000 on a ~$30k loan, and there's no payment penalty for paying off the loan early. The best the bank/dealership could do was 4%. capital one came in for me at 2.65%
I refinanced with Capital One. I like their loan servicing. When issues come up, they are as good as USAA is about helping resolve the issue (Cap 1 just gave me a better refi rate).
Glad you enjoyed it! I keep telling Elizabeth that she's on camera to stay. It's great that you notice she adds great value, and we always make sure she sees these comments!
@@KevinHunter I think Elizabeth is a good addition to the videos. If she is insecure about how she looks, tell her to relax. She looks pleasant. The only thing I could possibly criticize in a trivial way is her hair style. I think she would look better with a fluffier, puffed up hairstyle.
Thank You Capital One Bank I just approved for $63k and just picked up my dream car this past weekend a C7 Grand Sport Corvette... Super easy in and out with the dealership with my approval letter..
I have financed three cars through Capital One, with great results, maybe I'm just lucky 😂 My latest purchase is a new Jeep Gladiator. They honored the pre approval terms, actually financed 13k above at a lower rate. I am very happy with Capital One Auto Finance. Thanks for doing this video 😊
Capital One has sent me three pre-approved letters from June -August 2022. I didn’t bite tho, felt like a trap. I’ll work on my credit more and maybe do a mostly cash deal and pay the rest in installments…
I refinance with Capitol One. It was a better rate than the manufacturer's loan but I got an even better deal with my credit union. I'll go directly to the credit union for my next car loan.
reminder: the prestige or the "glamour" or the number of branches that a bank has does not make your credit score go up or down. There are several factors that make up the structure of your credit score, but the reputation or number of branches that a bank has is not one of them.
The first car that I bought, the dealer went with cap one and i had an insane 19% rate. That’s because my credit sucked back then. I had a pleasant experience with cap one and i hope i will use them again but this time with a lower rate.
1985 Joe Girard, the world's greatest car salesman wrote a book, "How to Sell Anybody Anything". I remember from one of his books, Joe wants you to have problems with your car, since he will go to fight for you if you have a problem with the service department. Can you do a video on Joe's principles?
I currently finance my car through Capital One and I can say I liked how easy they made the process for me overall. If I could do it all again, I would buy cash much like Kevin does as I came to the Homework Guy well after I purchased my car (2016). I do like the Capital One tool in their app, and I chose them because my wife and I have a credit card with them, which made the process of choosing who to finance through seamless. Still, I agree, it’s not all a bowl of cherries as sometimes you end up speaking with someone who seems like they are right out the finance office at the dealership.
Actually, you're hit the nail on the head with your closing comment. Quite often, it was a Finance Manager at a Dealership who was sending out the letters, and then calling on people about their "Pre-Approvals." They knew who they were dealing with, and they always made it sound like they were doing them such a big favor. I recall a Finance Officer (one of the true loan sharks in the business) who would come out of his office after a disgusted car buyer walked out on him. He'd say, "Well, I shot-gunned his loan app to a ton banks so he couldn't do business elsewhere. That asshole will be back. You don't burn me and get away with it!" Not kidding in the least. He destroyed (or tried to destroy) anyone who didn't take his bait. I would try to learn as much as I could about the client so I could reach out to them and try help them navigate the mess he made out of things for them. It got really ugly at times. When dealers get on their high-horse about how great the industry is... they have the same stories I do. They just don't tell them to others.
@@KevinHunter stories like that are why I’m thankful for this channel. People need to know when it comes to vehicle financing, the dealership and their henchmen are not your friends. Their interest is their own...at all costs
Im trying to buy a new Tundra but can’t seem to dind any dealers with inventory? Is there no end in sight? Should I wait until the end of the year? When will things turn around for consumers so that there is ample inventory?
Good luck! Even the used market there are slim pickings for decent inventory with sub 150k miles and a reasonable price. If you want a car right now ismt a time for a want, but if you need a car then id suggest shop around and negotiate hard for a deal. A lot of dealers aint budging right now a whole lot. Thankfully with Kevin Hunter videos you can use that information to your advantage. Happy hunting for that New Tundra!
speaking of lease buyout financing, I currently have a 2019 Kia Forte LXS leased through KMFUSA. Will they finance the buyout, at he remaining balance of the car? Nowadays with car prices what they are my wife and I have decided to buy the car when the lease runs out in February of 22.Rightnoe the buyout amount is around or a little under 13,000 and the car only has 25000 mile on it.The current lease payment is 250.00 per month. Would that stay the same or go higher.
Capital one pre-approved me at almost 13%?. After negotiating with the dealer, for a week, I got a solid deal on my new truck, and 5.5% financing thru a local credit union. My average credit score was 642.
We have a follow up video we are doing shortly that involves feedback directly from Capital One, and then as many stories from viewers as we can. People need to know if it's a viable option, that's why comments like yours are great. Did you have any direct contact with Capital One, or did you just use their preapproval link online?
@@KevinHunter I had direct contact with Capital one. They wanted income verification. They originally pre-approved me for a $32,000 loan, after income verification, they dropped the amount to $15,000. I have 6 different Cap one credit cards and accounts wth them, and no negative credit history.. I asked for a better interest rate, but they said the algorithms in the auto navigator set the rate based on the provided info?
So you had direct conversation with them, and you have current credit cards with them so they know about your payment history as a customer... and yet they weren't interested in working with you for a better loan rate?
@@KevinHunter That is correct. I have multiple Capital One account's, no late payments, or any negative history on my report. My average credit score between bureau's is 642, and only because my credit utilization rate is high because I used my cards to subsidize my income during the covid crisis in 2020. The Cap one rep on the phone didnt seem interested in working with me on a lower interest rate. When they dropped the loan amount to only $15,000, I decided to move on from Cap one auto finance, and Im glad I did.
@@KevinHunter And for the record, I don't understand why Capital One dropped the original loan pre-approval from $32,000, down to $15,000, after I submitted my income verification? My debt/Income ratio at that time was barely 12%, and I had the income available to easily pay the loan on $32,000, as long as I could get a decent interest rate for tier 2 credit. The Cap one process was just to quirky for me to want to deal with. The financing offered to me by the credit union was quick and painless, and I received an interest rate that I was very happy with, based on my circumstances.
My girl needed a bank statement and stub last week and I was worried about her loosing her not getting her car loan 😴 but everything good now only because of deelscafe good work 👍.
I have a Cap 1 credit card and get their pre-approved car loan letters about once a month. They go straight into file 13 along with all the other car offers I get in the mail. I don't bother opening any of that stuff. Thanks for a great channel!
At a dealer, they pulled a stupid interest rate. With Capital One. I pulled up their website to check, they lowered the interest rate before I even had time to put in my info..... I turned down the deal completely.
That was the dealer padding the interest rate. They get a "buy rate" from Capital One. Then they add points to it and offer you a "sell rate" as if that's what Capital One is offering. In that case, you'd definitely find a different rate by going to Capital One directly. If you're going to use them, that's exactly what I'd suggest doing. Cut the dealer out of the mix. Just because you're buying a car there doesn't mean you owe them a shot at the financing too.
The last car I bought online and was not able to use my own credit Union which worked out fine because my only option was to go with capital one who had the lower interest rate anyway
Why l paid off my car note with capital one. And they are saying l old more money. Had my loan deferred for 3 months. Just paid 3 months past the payoff date. And capital one is saying l still owe money? Why?
I was approved for a loan, I was told the interest rates are 3.75% but I later find out I was being changed % on a daily basis is this right. Looking for advice
Yes this is correct. Most if not all vehicle loans are simple interest loans. Daily interest is accruing but you're still paying 3.75% on the principal balance. Just make sure to pay your payment every 30 days on or before the due date. You don't want more than 30 days between payments. Even if you pay early. Hope that helps. I work for an auto finance company.
@@justluvme7 is capital one a good company. My credit is not the best but i went from a 22 interest rate to a 10.12 at capital one. I have not signed anything as of yet
@@ashuntaj1 With that newer lower rate, you're probably still a subprime borrower but every single point could translate to hundreds of dollars in savings depending on the loan amount.
I have a 2021 Honda Accord financed through capital one I got the car for what the dealer ship got it for and the car was the one I chose on the site only issue was the Honda dealer in my town didn’t have the specs I wanted but the next town over which was 40 miles away did great rates and monthly payment
Refinanced my wife’s car, very easy and I shaved 2 points and 6 months off loan for very small monthly increase. They were upfront with multiple loan options. Very pleased with my experience.
6 years ago I acquired a loan from Capital. I applied, received my paperwork which allowed me to walk anywhere I wanted with my approval known only to me. Now I tried again and they want to send my paper work or approval to the dealership? B.S. Not using them anymore.
That might have been because they have a working relationship with a particular dealer. It's not a big deal if they send send the dealer your approval and you know the rate beforehand, because think about it, it prevents the dealership from screwing you over by inflating the finance rate. Another reason for doing that is to remind the dealership that the bank generated the loan sales lead and the car dealership can't try to charge them a percentage of writing the car loan. Doing that actually protects you and the bank from shady car dealers.
I could be wrong (so correct me if I am). This is only good for those with a great credit score. And we shouldn’t take a chance if our score is under 700. I know I’m a year late, but I just received this same letter. I’m looking to finance a second vehicle. I have a used 2001 grand Marquis mercury. And it’s truly eating a hole in my pocket. I rather spend my money on something new but keep my used car I’ve had for three year’s now.
Will never use CapitalOne. Did 20 years ago and would mail my payment the day after I received bill but it would be received late each and every time. I started sending it certified return receipt because it cost less than the late fee, protected my credit and I had proof it showed up a few days after it was sent. I paid the card off as soon as I could and vowed never to do business with them again.
That is a terrible experience, and it smacks of intentional destruction of consumer credit. If you consider the reasons why... well, interest rates are dependent on credit score. The lower the score, the higher the interest. I'm not implying that this was their purpose, but it certainly ticks you off that they aren't working hard for you, doesn't it? That's the ugly part of being "just a number" to the larger banks.
@@KevinHunter , luckily I found a good credit union and have learned from the experience. We should shop carefully for our financial institutions just as we do our cars.
Great info as always! I can't recall the last time I've had an account or any interaction with CapitalOne! They are based here in Virginia and have a reputation for constantly cycling through employees. Just saying....
The character of an organization is often reflected in how they treat their own people. We don't know if or why Capital One would have a problem keeping staff, but that seems to be the case at least in your area. It's always one of the things I look for when considering an organization. Thanks for sharing that. In the total preponderance of evidence, information like that does not reflect well upon any organization.
Can somebody please explain thoroughly about credit scores that are all three under 500? What if you have half of the down payment of a vehicle? Example: I recently tried to purchased a used 2005 Jeep Laredo, which is at $5,995, I have factor in the taxes and title fees, which is around $6,086 and some change and I have $3,000. Any advice of what I am doing wrong or any potential scams I may run into as I am dealing with the dealer?
If I was sitting in the same situation... I wouldn't be looking for a car loan. I'd be looking for a good used car that I could buy private party with the money I had. Then I'd take out cash secured loans at my local credit union, and build my credit score back up. In time, 6-18 months depending on where you're starting from, another better car is in the makings down the road.
My credit isn’t good or fair. Just below 600 to be exact (I know) but I funded my last car with CO so they pre-approved me for my used truck which started off a good deal with dealership, however; my interest rate with CO is 20.08% and I just found out they are charging me 12.63/ every single DAY!? What did I sign?! The price of the truck I got is now doubled and I feel so used. Any advice would help. I have no credit card debt just student loans and doctor bills. I rate capital one a 1 for taking a chance on me but also for taking advantage of me.
Years ago when I was strapped I did a Cap One loan. My $13,000 car cost me a total of $33,000 when done. Think it took me 7 years and a refinance but I kept that car and paid it off. I still laugh at that stupidity but it is a good memory during that time.
capital one has lousy customer service as possible, i made payment few hours late because their website was down, still they charged me late payment fee and didn't agree to waive unjustified fee.
@KevenHunter said: "I can't imagine why someone with $1,700 in monthly income would want a car payment... Mind blowing" Because you need it for a friggin JOB and peeps are NOT being paid a living wage. Just because you are "poor" doesn't mean you don't need a RELIABLE car. Don't attack people based on income.
Nobody is being attacked based on income. You missed the point. In that situation, I'd be finding a car that would get me by, and I'd pay cash even if I had to borrow a few bucks from family, friends, etc. Been there, done that. Adding a car payment into monthly income that low is a great way to make sure it is years... yes, I said years, before you find a way to get your head above water. That's it entirely. Apparently you don't watch the Dave Ramsey show, but any person who understands finances wouldn't be recommending car payments in that situation. Hopefully now you got it.
If you can't afford to pay cash for something other than a house, then guess what? You can't afford it. Save until you can afford it. If that means driving a $1000 shitbox for a year while you save up, then so be it. When you're only making $1700 a month, then the LAST thing you need to do is get yourself into recurring monthly payments on something. Save, save, save. And take a second job.
Ok so really at low incomes one shouldn't have a cost outlay of more than 20% of their monthly take home pay into all of the expenses of owning a vehicle. So let's look at that. $1700, subtract $100 for taxes and we're at $1600. 20 percent of that is $320. So if that's what you're looking at, a car salesperson would say you can look at a car around $12k to $15k at 8 or 9 percent interest. At such a low income you still wouldn't expect Capital One to offer a low rate just because they would see the person as a higher risk for default. One rainy day could ruin their finances for months going forward even if at the time they buy the vehicle they have a decent score and low DTI at the time they apply for a loan. But that's not the target car payment, the shopper would need to fit the car payments insurance payment, fuel expenses, and putting a few bucks aside for yearly routine maintenance, so realistically that $320 per month could easily drop to $220 or even $175 depending on the shopper's driving habits and quality of car and insurance they get. Let's presume they have $50 of expected fuel expenses and full coverage insurance will be $100 per month. Them they set aside $20 a month of just in case money for the car. That's $150 of car payment on the base vehicle. And if one wasn't financing for a long term, only 3 years at 8% (which I've seen plenty standard for medium risk car buyers), that car they would need to finance would need to be under $5k out the door. And especially right now with inflated car prices? Very few vehicles at a car dealership selling less than $5k will be reliable or worth the money. It's almost just financing a problem that will hurt more than help in the long run. (Keeping in mind that this channel does not endorse financing for 60+ months.)
I had a car loan with GMAC awhile ago and it was bad bad, I was upside down in my loan and ultimately could not afford the payment. Also medved dealerships in Co. Are crooks!!!
I did use them not for the car I have now The car I had before. I bought a 2-year-old Lincoln MKZ was pre-approved. I did find out that at one dealership they would not take it the dealership that I took delivery from did accept it. The Capital One rate was better than the Ford motor rate so I went with it. Finance for 3 years paid it off at 18 months. I bought an Acura picked it up December 24th. Acura financial did 0.9% financing for certified vehicles. Capital One was higher. I financed it for 36 months Will probably pay it off in less than 12. I know it's not a great deal to do that since it's only .9 percent but I just don't like having any debt at this point
Thanks, David! A lot of time and effort goes into every production we do. We aren't simply a content producer. We aim to hit the target on the bullseye, and that gives us an edge over others. The truth is all that matters at The Homework Guy, and I think our audience appreciates that. We appreciate you stopping by to check out our latest show!
Refinanced last July, happy with the experience and the lower interest rate..... Until I paid off the loan. I paid off the loan on March 8th and here is is April 28th and I still do not have the title. Yesterday they told me it will be another 30 days before I get the title because they 'lost it'. That means I will be hitting almost 3 months waiting for my title, a process that should take 10 days max. Meanwhile, I have a Tacoma with multiple offers that I can't sell, I don't want to drive as I already have its replacement, and I am paying to insure it. The customer service staff is all overseas, and while apologetic, can't resolve my problem. You have to go higher up to speak to someone in the United States. I got bumped up to the 'President's Office' but still no resolution.
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No! Absolutely NOT!! Been there did that. They dropped my pre approve (insanely high interest) financing TWO WEEKS AFTER I TOOK THE CAR OFF THE LOT. My score at that time was well above 600. Then the dealership was all like, we got you we'll finance through one of our banks. Hell to the no! I got financing with super low interest from a credit union after panicking about it. Don't accept ANYTHING from that company! They are CROOKS! This was my first vehicle purchase and it left quite the sour taste in my mouth. Thankfully my 2010 Toyota Corolla has been super great to me after 4 years and I'm on my last 1k to pay off! KNOCK ON WOOD! The only reason I even attempted to use them was because my 1998 Toyota Paseo was on it's quite literally last legs (cracked block after overheating) and I was green as they come for car buying. Not anymore!!
Thanks for sharing your story. Viewers comments will show up in our next video, and we'll definitely discuss concerns viewers share directly with Capital One. They write tons of car loans, so we're going to put the truth out there. Good or bad, people should know. They have a right to know!
A lot of ideas come out of late evening brainstorming. Voila, the viewer comments section was born! Glad you liked it, and yes... we do plan to continue with it.
I used them to purchase a 2012 Chevrolet Cruze. It was a “no money down” loan. But when I got to the dealer, they said it was no good and they could get a better rate through GM , so they tried , failed and my credit took a hit. Then in order to purchase they insisted on money down, 20%! I had no cash down, needed a car, and so my in-laws put money down for the purchase. My only issues were with the dealership. Even after purchase, their garage made a killing off of me! Caviat Emptor!
Another Andy Elliot ad before the video started... Thanks for the continued information. I've traditionally used approvals through the dealerships, but any future car purchases will not be.
Yes, reportedly $50K is the max. However, they are far from being the only bank to consider. To be clear, we aren't covering Capital One because we highly recommend them. Not that at all. We are simply aware of how many people use them, so we're trying to fill in the information void.
@@KevinHunter Thank you. I do have Bellco credit union and my regular bank to ask. I wasn't even aware that Capital One would do a car loan until this video. Thank you. I always appreciate your car buying insight.
We appreciate his support. Does he appreciate our reviews of his content? Perhaps he's like to comment below. That said, we are many times larger than Andy's TH-cam audience. It certainly doesn't hurt his "analytics" for us to be looking at and reviewing his videos. More people go there to check him out as a result. Funny how that works, huh?
Kevin, I am thinking it's time to "Rebrand" This channel? :-) "The Homework GUY & GAL!" "The homework Team!" Elizabeth is a regular these days..No complaints.. she's awesome!!!
Indeed, she is. The Homework Guy dates back to 2009. She was an excellence source of information and assistance through all of it. Spent thousands of hours with too many car buyers to count. She did it all on her own. To answer your question, our team is open to anything, but she flat doesn't want anything changed. When the conversation has come up (by others), she immediately says, "We're not changing anything. Forget it." Not very many people have such great character that they do things in life without wanting credit, but Liz is that person. There may come a day she does it all, and I'm that "behind the scenes guy." I'd be good with that too. There's a lot of good people involved, and it's not about any one person. It's about sharing truth, honesty, and some good old Super High Intensity Training!
@@KevinHunter I believe she has become much better before the camera. Much more natural. A no "BS" type of gal! Oh... I forgot to ask: How that "little sweetheart" of yours? I enjoyed that video of both of you where she was running around the neighborhood posting those signs for daddy...
She is doing great, thanks for asking. She is such a little sweetheart. She is always asking, "Do you need me to do anything to help you?" Love it! The day she made those "posters" was probably the cutest thing she's ever done. I dropped everything, and we went out and hung up posters. It was hard not to shed tears of joy just watching her "servant heart" at work. Kids have a way of touching your heart that nobody else can compete with. Just amazing...
@@KevinHunter I do not believe that Elizabeth should suddenly start doing the videos alone. She may be too shy to do so. However, she is a good team mate who helps out skillfully.
Capital One is one of the WORST company anyone can ever go to. They market themselves to ppl with less than good credit. Don't even apply for their CC!!! Exactly what the video says!!!
Capital one is complete garbage. I ended up walking out of the deal after the price negotiations, set vehicle type and was getting ready for the financing. I failed at utilizing my own financial institution so I opted to see what the dealer offered. Once I saw the name capital one I was a bit skeptical, the finance clown began to start with what I call fudging numbers to reach what I could only interpret as a figure he wanted to reach. Once I saw this garbage with what he and what capital one wanted to charge I left with a quickness. I figured it was cheaper to fix up my old beater than to spend what they wanted.
Please accept our invite to VOTE on our Capital One Poll!
Here's the link: th-cam.com/channels/J6Su-8bINvXVXWf0peAIJg.htmlcommunity
Poll results and any pertinent comments will be shared on our next Capital One video!
Lightstream is my lender. I took out a loan 3 yrs ago for a private party purchase. 100% online look it up guys...
I have two cars financed through Capital One. The rates were 3% and everything was done on line. I walked into the dealerships and challenged them to get me a better rate and I would go with their finance. They could or would not. The experience was satisfactory and I look forward to possibly financing with them in the future. Good presentation.
Thank you, this is good to know.
Yo question
Did you have to show proof of income?
@@soniarena5250 its really good to use. i got a civic on auto navigator 0 down 2.7 interest and 250 a month
Victor Cordero
the key is giving 20% down not 0%. 20% yields you a better apr. the bigger the down payment and the better your credit score, the lower the interest rate.
I had a Cap One preapproval letter for a 3-year-old Toyota Camry. After we landed on what I thought was a fair price, they presented a better interest rate from a local credit union. The pre-approval letter at least let them know that I was very much a potential buyer. I feel like it worked to my advantage that day.
I was hurting financially and needed an extension on my loan to lower the cost per month on my payment. I went from 425 a month to 340 a month. Capital one worked with me. That extra 85 dollars a month was needed for my rent. They helped me through a rough spot I was in. As luck would have it I came into some money and paid it off early. That was my personal experience and I loved the peace of mind it gave me. Thank you Capital One. And yes Capital One made more money. In my mind that is fair!
Late to the party, but I bought my car with a Capital One loan. My interest rate is 1.9% which matched what my credit union was offering. I refused all the service plans and add ons they try to sell you in the finance room. I bought my car on a Wednesday and by Friday I was able to set up my loan online and use the app. I was able to set up a biweekly recurring payment and am on a schedule to pay the loan off in two years. I didn't do the pre-approval. I went to the dealer with a pre-approval from my credit union. They said they could probably match it and did with Capital One. I knew they wanted me to go with them so the could upsell but I knew I wouldn't buy what they were selling. All in all I'm more than satisfied with Capital One.
My last car loan was with capital one, I got the car I wanted, at the dealership I wanted to do business with. And to my surprise, got a lower interest rate than thought.
What was your credit score
What was your credit?
Credit score & did u had to put down ?
I've never used CO Finance but my brother has several times and was satisfied with them. But he had numerous problems with dealers hesitant about accepting them. They required him to still fill out a finance application so they could "positively ID him" and also claimed CO doesn't pay them for months. Of course these are lies just so they can run his credit so they can trick him into financing with them. They even refused to give him the car unless they ran his credit claiming they couldn't ID him otherwise. Just more BS from crooked dealers.
I hope he ended up going to a different dealer
I work at a Dealership that uses Capital One. They only use banks in a network of approved lenders for them. They do not take outside lenders. But Capital One does seem to pick up more of the challenged credit holders. They do require common stipulations. Proof of residence, proof of income, proof of insurance. If you have a 700 or above there are better out there by far. But if you are building or rebuilding they seem to be the easiest and fair on interest rates.
2:25
Wat would be a better option than capital one if im over 740
I have had two cap one auto loans. just recently my 2008 Nissan started giving me problems and just wasn't worth fixing. I got pre approved thur cap one for a 3.16% interest rate on a 2019 Titan SL. My credit union and bank were actually around 3.5. Kevin, I used all the knowledge I gained from your videos to get the best deal on my truck. I got the dealer to come down 1600 on the price of the truck. I even walked away from the deal twice when I challenged the inventory tax (TEXAS) and doc fee. I didn't buy any of the bloated dealer stuff and walked away feeling really good about my purchase. Thanks to you and your team for coaching us on the proper way to deal with a dealership.
Wow, you nailed the process down pretty good, didn't you? Several good moves on your part! Thanks for sharing such a great story!
@@KevinHunter Here is food for thought that you taught me. I researched the price of the truck. I used kbb to get the trade in value for the truck and then added 1700 for dealer profit. I got my Titan SL for 34745+TTL. It only had 34680 miles on it and a one owner. Right now due to the chip shortage and manufacturing issues my truck has already appreciated 3500. The average truck just like mine is selling for 39 grand and above. Thanks again Kevin. Your information worked for me.
Do you folks have a book out? Cuz if you do I sure would purchase it
Hi there, I have purchased a few used cars through Capital one and have also refinanced a vehicle. I love how you can research vehicles and get an idea of what you may pay for the vehicle. The last vehicle I purchased I did not go through them because I was able to get a really good deal through the manufacturer. I do recommend folks to Capital one so that they can know before they go to the dealer.
Hrm...Maybe it's different if you have bad credit. I shopped around, and capitol one was lower than the dealer and my bank. My total loan for 5 years will only be ~$2000 on a ~$30k loan, and there's no payment penalty for paying off the loan early. The best the bank/dealership could do was 4%. capital one came in for me at 2.65%
I refinanced with Capital One. I like their loan servicing. When issues come up, they are as good as USAA is about helping resolve the issue (Cap 1 just gave me a better refi rate).
USAA is a very good lender, though I'm not sure about refinancing. Was your credit worse when you first got the loan?
Great two person format! Excellent content! Thanks!
Glad you enjoyed it! I keep telling Elizabeth that she's on camera to stay. It's great that you notice she adds great value, and we always make sure she sees these comments!
@@KevinHunter I think Elizabeth is a good addition to the videos. If she is insecure about how she looks, tell her to relax. She looks pleasant. The only thing I could possibly criticize in a trivial way is her hair style. I think she would look better with a fluffier, puffed up hairstyle.
Thank You Capital One Bank I just approved for $63k and just picked up my dream car this past weekend a C7 Grand Sport Corvette... Super easy in and out with the dealership with my approval letter..
How did it work ? They gave you a check ?
I have financed three cars through Capital One, with great results, maybe I'm just lucky 😂 My latest purchase is a new Jeep Gladiator. They honored the pre approval terms, actually financed 13k above at a lower rate. I am very happy with Capital One Auto Finance. Thanks for doing this video 😊
I financed my car through them and i got 2.9 % with a 736 credit score
Capital One has sent me three pre-approved letters from June -August 2022. I didn’t bite tho, felt like a trap. I’ll work on my credit more and maybe do a mostly cash deal and pay the rest in installments…
I refinance with Capitol One. It was a better rate than the manufacturer's loan but I got an even better deal with my credit union. I'll go directly to the credit union for my next car loan.
People. JOIN A GOOD CREDIT UNION! Hell with Banks!
You nailed it, Chris!
What part of the country do you hail from, Chris?
Proudly, Houston, TX.
Im in houston what’s a good credit union. Pen Fed wouldn’t take my application
On the behalf of all us " Great Big Pork Chops " out here . I thank you for this video . ,, gubs
Glad you enjoyed it! By the way, what's for dinner? Pork chops? lol
@@KevinHunter Smoking them , and joking about them. At a Dealer near you :D Not this PC tho . I watch you .. have a good one ..
HA HA HA!! Just saw an ad for Andy Elliot while watching this video. poor TH-cam!!
We thank Andy Elliott for his support of our channel! Lol...
reminder: the prestige or the "glamour" or the number of branches that a bank has does not make your credit score go up or down.
There are several factors that make up the structure of your credit score, but the reputation or number of branches that a bank has is not one of them.
Nailed it, contrary to the advice that Andy Elliott and his "word track" coached claimed on a video we recently reviewed.
Capital one has been great for me on the last 3 vehicles
Have you had any issues with capital one?
The first car that I bought, the dealer went with cap one and i had an insane 19% rate. That’s because my credit sucked back then. I had a pleasant experience with cap one and i hope i will use them again but this time with a lower rate.
19% omg, I’d just walk out
Wtf 🤣
thats how i bought my truck but i did a refinance at a lower rate within a year
1985 Joe Girard, the world's greatest car salesman wrote a book, "How to Sell Anybody Anything". I remember from one of his books, Joe wants you to have problems with your car, since he will go to fight for you if you have a problem with the service department. Can you do a video on Joe's principles?
I currently finance my car through Capital One and I can say I liked how easy they made the process for me overall. If I could do it all again, I would buy cash much like Kevin does as I came to the Homework Guy well after I purchased my car (2016). I do like the Capital One tool in their app, and I chose them because my wife and I have a credit card with them, which made the process of choosing who to finance through seamless. Still, I agree, it’s not all a bowl of cherries as sometimes you end up speaking with someone who seems like they are right out the finance office at the dealership.
Actually, you're hit the nail on the head with your closing comment. Quite often, it was a Finance Manager at a Dealership who was sending out the letters, and then calling on people about their "Pre-Approvals." They knew who they were dealing with, and they always made it sound like they were doing them such a big favor. I recall a Finance Officer (one of the true loan sharks in the business) who would come out of his office after a disgusted car buyer walked out on him. He'd say, "Well, I shot-gunned his loan app to a ton banks so he couldn't do business elsewhere. That asshole will be back. You don't burn me and get away with it!" Not kidding in the least. He destroyed (or tried to destroy) anyone who didn't take his bait. I would try to learn as much as I could about the client so I could reach out to them and try help them navigate the mess he made out of things for them. It got really ugly at times. When dealers get on their high-horse about how great the industry is... they have the same stories I do. They just don't tell them to others.
@@KevinHunter stories like that are why I’m thankful for this channel. People need to know when it comes to vehicle financing, the dealership and their henchmen are not your friends. Their interest is their own...at all costs
Im trying to buy a new Tundra but can’t seem to dind any dealers with inventory? Is there no end in sight? Should I wait until the end of the year? When will things turn around for consumers so that there is ample inventory?
I have not heard any promising news on the car shortage ending any time soon. It may go on and on and on for several more months.
@@gwillis01 And ergo , prices will remain ... HIGH !!
Good luck! Even the used market there are slim pickings for decent inventory with sub 150k miles and a reasonable price. If you want a car right now ismt a time for a want, but if you need a car then id suggest shop around and negotiate hard for a deal. A lot of dealers aint budging right now a whole lot. Thankfully with Kevin Hunter videos you can use that information to your advantage. Happy hunting for that New Tundra!
Capital One is a credit card company posing as a bank. Glad I saw this
Your videos are very helpful ! Thank you 😀
Glad you like them! We appreciate you stopping by our channel today!
speaking of lease buyout financing, I currently have a 2019 Kia Forte LXS leased through KMFUSA. Will they finance the buyout, at he remaining balance of the car? Nowadays with car prices what they are my wife and I have decided to buy the car when the lease runs out in February of 22.Rightnoe the buyout amount is around or a little under 13,000 and the car only has 25000 mile on it.The current lease payment is 250.00 per month. Would that stay the same or go higher.
4:07 are application fees a thing in the auto finance industry? That's the first ive heard of that!
Capital one pre-approved me at almost 13%?.
After negotiating with the dealer, for a week, I got a solid deal on my new truck, and 5.5% financing thru a local credit union. My average credit score was 642.
We have a follow up video we are doing shortly that involves feedback directly from Capital One, and then as many stories from viewers as we can. People need to know if it's a viable option, that's why comments like yours are great. Did you have any direct contact with Capital One, or did you just use their preapproval link online?
@@KevinHunter
I had direct contact with Capital one. They wanted income verification. They originally pre-approved me for a $32,000 loan, after income verification, they dropped the amount to $15,000.
I have 6 different Cap one credit cards and accounts wth them, and no negative credit history.. I asked for a better interest rate, but they said the algorithms in the auto navigator set the rate based on the provided info?
So you had direct conversation with them, and you have current credit cards with them so they know about your payment history as a customer... and yet they weren't interested in working with you for a better loan rate?
@@KevinHunter
That is correct. I have multiple Capital One account's, no late payments, or any negative history on my report. My average credit score between bureau's is 642, and only because my credit utilization rate is high because I used my cards to subsidize my income during the covid crisis in 2020.
The Cap one rep on the phone didnt seem interested in working with me on a lower interest rate. When they dropped the loan amount to only $15,000, I decided to move on from Cap one auto finance, and Im glad I did.
@@KevinHunter
And for the record, I don't understand why Capital One dropped the original loan pre-approval from $32,000, down to $15,000, after I submitted my income verification? My debt/Income ratio at that time was barely 12%, and I had the income available to easily pay the loan on $32,000, as long as I could get a decent interest rate for tier 2 credit. The Cap one process was just to quirky for me to want to deal with.
The financing offered to me by the credit union was quick and painless, and I received an interest rate that I was very happy with, based on my circumstances.
My girl needed a bank statement and stub last week and I was worried about her loosing her not getting her car loan 😴 but everything good now only because of deelscafe good work 👍.
saw his page yesterday was having same issues getting paystubs and statements
I have a Cap 1 credit card and get their pre-approved car loan letters about once a month. They go straight into file 13 along with all the other car offers I get in the mail. I don't bother opening any of that stuff. Thanks for a great channel!
What are your thoughts on purchasing from carvana?
Hassle free buying and most times have better pricing than brick & mortar dealerships.
@@magellanmax Lies. They are higher.
At a dealer, they pulled a stupid interest rate. With Capital One. I pulled up their website to check, they lowered the interest rate before I even had time to put in my info..... I turned down the deal completely.
That was the dealer padding the interest rate. They get a "buy rate" from Capital One. Then they add points to it and offer you a "sell rate" as if that's what Capital One is offering. In that case, you'd definitely find a different rate by going to Capital One directly. If you're going to use them, that's exactly what I'd suggest doing. Cut the dealer out of the mix. Just because you're buying a car there doesn't mean you owe them a shot at the financing too.
The last car I bought online and was not able to use my own credit Union which worked out fine because my only option was to go with capital one who had the lower interest rate anyway
Why l paid off my car note with capital one. And they are saying l old more money. Had my loan deferred for 3 months. Just paid 3 months past the payoff date. And capital one is saying l still owe money? Why?
I was approved for a loan, I was told the interest rates are 3.75% but I later find out I was being changed % on a daily basis is this right. Looking for advice
Yes this is correct. Most if not all vehicle loans are simple interest loans. Daily interest is accruing but you're still paying 3.75% on the principal balance. Just make sure to pay your payment every 30 days on or before the due date. You don't want more than 30 days between payments. Even if you pay early. Hope that helps. I work for an auto finance company.
@@justluvme7 Thank you for your informative post.
@@justluvme7 is capital one a good company. My credit is not the best but i went from a 22 interest rate to a 10.12 at capital one. I have not signed anything as of yet
@@ashuntaj1 With that newer lower rate, you're probably still a subprime borrower but every single point could translate to hundreds of dollars in savings depending on the loan amount.
Glad I am a cash buyer and yes I will keep it a secret until I am ready to sign.
Not so glad with Pontiac tho
I have a 2021 Honda Accord financed through capital one I got the car for what the dealer ship got it for and the car was the one I chose on the site only issue was the Honda dealer in my town didn’t have the specs I wanted but the next town over which was 40 miles away did great rates and monthly payment
That's the ticket! You were willing to buy a car further away and make the drive and you netted a better car shopping experience.
Refinanced my wife’s car, very easy and I shaved 2 points and 6 months off loan for very small monthly increase. They were upfront with multiple loan options. Very pleased with my experience.
So do i have to put a down payment once im pre approved or is that capital ones job? Im confused lol
Bottom line: do your own homework.
Each person's circumstance is different. There is no 'one size fits all'.
You got it. Do what works for you!
6 years ago I acquired a loan from Capital. I applied, received my paperwork which allowed me to walk anywhere I wanted with my approval known only to me. Now I tried again and they want to send my paper work or approval to the dealership? B.S. Not using them anymore.
That might have been because they have a working relationship with a particular dealer. It's not a big deal if they send send the dealer your approval and you know the rate beforehand, because think about it, it prevents the dealership from screwing you over by inflating the finance rate. Another reason for doing that is to remind the dealership that the bank generated the loan sales lead and the car dealership can't try to charge them a percentage of writing the car loan. Doing that actually protects you and the bank from shady car dealers.
recently refinanced with Capital One, and I was really happy with my experience... Simple, easy, and competitive pricing
Had nothing but headaches with last car and Capital One. I will never use then again for ANYTHING!
I was pre-approved then got a letter 7 days later saying they couldn't approve me for a loan.
That’s why it’s called a pre-approved letter lol
I could be wrong (so correct me if I am). This is only good for those with a great credit score. And we shouldn’t take a chance if our score is under 700. I know I’m a year late, but I just received this same letter. I’m looking to finance a second vehicle. I have a used 2001 grand Marquis mercury. And it’s truly eating a hole in my pocket. I rather spend my money on something new but keep my used car I’ve had for three year’s now.
Will never use CapitalOne. Did 20 years ago and would mail my payment the day after I received bill but it would be received late each and every time. I started sending it certified return receipt because it cost less than the late fee, protected my credit and I had proof it showed up a few days after it was sent. I paid the card off as soon as I could and vowed never to do business with them again.
That is a terrible experience, and it smacks of intentional destruction of consumer credit. If you consider the reasons why... well, interest rates are dependent on credit score. The lower the score, the higher the interest. I'm not implying that this was their purpose, but it certainly ticks you off that they aren't working hard for you, doesn't it? That's the ugly part of being "just a number" to the larger banks.
@@KevinHunter , luckily I found a good credit union and have learned from the experience. We should shop carefully for our financial institutions just as we do our cars.
Great info as always! I can't recall the last time I've had an account or any interaction with CapitalOne! They are based here in Virginia and have a reputation for constantly cycling through employees. Just saying....
The character of an organization is often reflected in how they treat their own people. We don't know if or why Capital One would have a problem keeping staff, but that seems to be the case at least in your area. It's always one of the things I look for when considering an organization. Thanks for sharing that. In the total preponderance of evidence, information like that does not reflect well upon any organization.
What was your credit wise credit score?
Can somebody please explain thoroughly about credit scores that are all three under 500? What if you have half of the down payment of a vehicle? Example: I recently tried to purchased a used 2005 Jeep Laredo, which is at $5,995, I have factor in the taxes and title fees, which is around $6,086 and some change and I have $3,000. Any advice of what I am doing wrong or any potential scams I may run into as I am dealing with the dealer?
If I was sitting in the same situation... I wouldn't be looking for a car loan. I'd be looking for a good used car that I could buy private party with the money I had. Then I'd take out cash secured loans at my local credit union, and build my credit score back up. In time, 6-18 months depending on where you're starting from, another better car is in the makings down the road.
@@KevinHunter
Ok, thank you. I'll take your advice.
My credit isn’t good or fair. Just below 600 to be exact (I know) but I funded my last car with CO so they pre-approved me for my used truck which started off a good deal with dealership, however; my interest rate with CO is 20.08% and I just found out they are charging me 12.63/ every single DAY!? What did I sign?! The price of the truck I got is now doubled and I feel so used. Any advice would help. I have no credit card debt just student loans and doctor bills.
I rate capital one a 1 for taking a chance on me but also for taking advantage of me.
Umm…you didn’t see that before you signed?🤔
@@lynej2011 ummm no.
Make payments on time so your credit score can improve and then refinance if you can. You should get a lower rate.
My pre-qualify letter doesn’t show my interest rate, that’s strange
mines did not either
Years ago when I was strapped I did a Cap One loan. My $13,000 car cost me a total of $33,000
when done. Think it took me 7 years and a refinance but I kept that car and paid it off. I still laugh at that stupidity but it is a good memory during that time.
Ouch! Lessons learned!
But it built your credit score up
capital one has lousy customer service as possible, i made payment few hours late because their website was down, still they charged me late payment fee and didn't agree to waive unjustified fee.
@KevenHunter said: "I can't imagine why someone with $1,700 in monthly income would want a car payment... Mind blowing" Because you need it for a friggin JOB and peeps are NOT being paid a living wage. Just because you are "poor" doesn't mean you don't need a RELIABLE car. Don't attack people based on income.
Nobody is being attacked based on income. You missed the point. In that situation, I'd be finding a car that would get me by, and I'd pay cash even if I had to borrow a few bucks from family, friends, etc. Been there, done that. Adding a car payment into monthly income that low is a great way to make sure it is years... yes, I said years, before you find a way to get your head above water. That's it entirely. Apparently you don't watch the Dave Ramsey show, but any person who understands finances wouldn't be recommending car payments in that situation. Hopefully now you got it.
If you can't afford to pay cash for something other than a house, then guess what? You can't afford it. Save until you can afford it. If that means driving a $1000 shitbox for a year while you save up, then so be it.
When you're only making $1700 a month, then the LAST thing you need to do is get yourself into recurring monthly payments on something. Save, save, save. And take a second job.
Ok so really at low incomes one shouldn't have a cost outlay of more than 20% of their monthly take home pay into all of the expenses of owning a vehicle. So let's look at that.
$1700, subtract $100 for taxes and we're at $1600. 20 percent of that is $320. So if that's what you're looking at, a car salesperson would say you can look at a car around $12k to $15k at 8 or 9 percent interest. At such a low income you still wouldn't expect Capital One to offer a low rate just because they would see the person as a higher risk for default. One rainy day could ruin their finances for months going forward even if at the time they buy the vehicle they have a decent score and low DTI at the time they apply for a loan.
But that's not the target car payment, the shopper would need to fit the car payments insurance payment, fuel expenses, and putting a few bucks aside for yearly routine maintenance, so realistically that $320 per month could easily drop to $220 or even $175 depending on the shopper's driving habits and quality of car and insurance they get.
Let's presume they have $50 of expected fuel expenses and full coverage insurance will be $100 per month. Them they set aside $20 a month of just in case money for the car. That's $150 of car payment on the base vehicle. And if one wasn't financing for a long term, only 3 years at 8% (which I've seen plenty standard for medium risk car buyers), that car they would need to finance would need to be under $5k out the door.
And especially right now with inflated car prices? Very few vehicles at a car dealership selling less than $5k will be reliable or worth the money. It's almost just financing a problem that will hurt more than help in the long run. (Keeping in mind that this channel does not endorse financing for 60+ months.)
I had a car loan with GMAC awhile ago and it was bad bad, I was upside down in my loan and ultimately could not afford the payment. Also medved dealerships in Co. Are crooks!!!
I did use them not for the car I have now The car I had before. I bought a 2-year-old Lincoln MKZ was pre-approved. I did find out that at one dealership they would not take it the dealership that I took delivery from did accept it. The Capital One rate was better than the Ford motor rate so I went with it. Finance for 3 years paid it off at 18 months. I bought an Acura picked it up December 24th. Acura financial did 0.9% financing for certified vehicles. Capital One was higher. I financed it for 36 months Will probably pay it off in less than 12. I know it's not a great deal to do that since it's only .9 percent but I just don't like having any debt at this point
Good information and presentation!!
So informative! Thank you
Amazing advising video 👌
I always enjoy your show it is very informative Thanks
Thanks, David! A lot of time and effort goes into every production we do. We aren't simply a content producer. We aim to hit the target on the bullseye, and that gives us an edge over others. The truth is all that matters at The Homework Guy, and I think our audience appreciates that. We appreciate you stopping by to check out our latest show!
This is great information, thanks it was very helpful.
Glad it was helpful!
Refinanced last July, happy with the experience and the lower interest rate..... Until I paid off the loan. I paid off the loan on March 8th and here is is April 28th and I still do not have the title. Yesterday they told me it will be another 30 days before I get the title because they 'lost it'. That means I will be hitting almost 3 months waiting for my title, a process that should take 10 days max. Meanwhile, I have a Tacoma with multiple offers that I can't sell, I don't want to drive as I already have its replacement, and I am paying to insure it. The customer service staff is all overseas, and while apologetic, can't resolve my problem. You have to go higher up to speak to someone in the United States. I got bumped up to the 'President's Office' but still no resolution.
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Thanks for the info, guys. 👍
Maybe this should be The Homework Gal show 😉
Man I thought I was listening to a WWF program his voice sounds like the old Commentator lol
How close is a soft pull to a hard pull for your auto credit score?
Soft pull has no impact at all. It's like you looking at your own credit.
No! Absolutely NOT!! Been there did that. They dropped my pre approve (insanely high interest) financing TWO WEEKS AFTER I TOOK THE CAR OFF THE LOT. My score at that time was well above 600. Then the dealership was all like, we got you we'll finance through one of our banks. Hell to the no! I got financing with super low interest from a credit union after panicking about it. Don't accept ANYTHING from that company! They are CROOKS! This was my first vehicle purchase and it left quite the sour taste in my mouth. Thankfully my 2010 Toyota Corolla has been super great to me after 4 years and I'm on my last 1k to pay off! KNOCK ON WOOD! The only reason I even attempted to use them was because my 1998 Toyota Paseo was on it's quite literally last legs (cracked block after overheating) and I was green as they come for car buying. Not anymore!!
Thanks for sharing your story. Viewers comments will show up in our next video, and we'll definitely discuss concerns viewers share directly with Capital One. They write tons of car loans, so we're going to put the truth out there. Good or bad, people should know. They have a right to know!
I like your outro!
Another vote for enjoying the new outro!!! I totally enjoyed it. Do it again!!
A lot of ideas come out of late evening brainstorming. Voila, the viewer comments section was born! Glad you liked it, and yes... we do plan to continue with it.
Why do you still have to put down money after you get your pre approval loan amount
Does a vehicle that depreciates more get you lower interest rates?
Quite the opposite.
.....I refuse to do business with Cap-One for anything. They keep trying tho (sending me teaser rate apps)
I used them to purchase a 2012 Chevrolet Cruze. It was a “no money down” loan. But when I got to the dealer, they said it was no good and they could get a better rate through GM , so they tried , failed and my credit took a hit. Then in order to purchase they insisted on money down, 20%! I had no cash down, needed a car, and so my in-laws put money down for the purchase. My only issues were with the dealership. Even after purchase, their garage made a killing off of me! Caviat Emptor!
Thank you guys!!
I'm being scam my victor Mitsubishi car dealer.returning the car Tuesday just notice they are charging me 3x the value of the car I'm so upset..
Another Andy Elliot ad before the video started...
Thanks for the continued information. I've traditionally used approvals through the dealerships, but any future car purchases will not be.
It's one more thing to know, isn't it? Be just as diligent with your finance options as you are with the car you plan to buy.
Thanks kevin good info
So is 50k the max for Capital One? I'm just thinking about trucks that are very expensive these days.
Yes, reportedly $50K is the max. However, they are far from being the only bank to consider. To be clear, we aren't covering Capital One because we highly recommend them. Not that at all. We are simply aware of how many people use them, so we're trying to fill in the information void.
@@KevinHunter Thank you. I do have Bellco credit union and my regular bank to ask. I wasn't even aware that Capital One would do a car loan until this video. Thank you. I always appreciate your car buying insight.
thank you
Capital one now have the dealer only rules. Tesla has to initiate the loan. Tesla will NOT but capital one continues to say that they will.
hello friends
Thanks
This is timely
Andy Elliott is advertising on your Chanel! Seriously?
We appreciate his support. Does he appreciate our reviews of his content? Perhaps he's like to comment below. That said, we are many times larger than Andy's TH-cam audience. It certainly doesn't hurt his "analytics" for us to be looking at and reviewing his videos. More people go there to check him out as a result. Funny how that works, huh?
whats the point of financing if i still have to put money down?
Wow, I can't actually believe anyone would ask such a question. Do you really think "buying" something shouldn't involve any of your own money?
@@KevinHunter Just a misconception and a simple question lol thanks for the help dude
I used them and had no prob in
Brilliant!
Thank you! We have to give you credit for being brilliant too, because you FOUND us! Well done. Thanks for stopping by The Homework Guy channel today!
Kevin, I am thinking it's time to "Rebrand" This channel? :-) "The Homework GUY & GAL!" "The homework Team!" Elizabeth is a regular these days..No complaints.. she's awesome!!!
Indeed, she is. The Homework Guy dates back to 2009. She was an excellence source of information and assistance through all of it. Spent thousands of hours with too many car buyers to count. She did it all on her own. To answer your question, our team is open to anything, but she flat doesn't want anything changed. When the conversation has come up (by others), she immediately says, "We're not changing anything. Forget it." Not very many people have such great character that they do things in life without wanting credit, but Liz is that person. There may come a day she does it all, and I'm that "behind the scenes guy." I'd be good with that too. There's a lot of good people involved, and it's not about any one person. It's about sharing truth, honesty, and some good old Super High Intensity Training!
@@KevinHunter Well..Major Kudos to you both!!! The information the channel/team has returned is fabulous..!!!
@@KevinHunter I believe she has become much better before the camera. Much more natural. A no "BS" type of gal! Oh... I forgot to ask: How that "little sweetheart" of yours? I enjoyed that video of both of you where she was running around the neighborhood posting those signs for daddy...
She is doing great, thanks for asking. She is such a little sweetheart. She is always asking, "Do you need me to do anything to help you?" Love it! The day she made those "posters" was probably the cutest thing she's ever done. I dropped everything, and we went out and hung up posters. It was hard not to shed tears of joy just watching her "servant heart" at work. Kids have a way of touching your heart that nobody else can compete with. Just amazing...
@@KevinHunter I do not believe that Elizabeth should suddenly start doing the videos alone. She may be too shy to do so. However, she is a good team mate who helps out skillfully.
Kevin should work for capital one
i have a cusip number and should have a line of credit
Capital One is one of the WORST company anyone can ever go to. They market themselves to ppl with less than good credit. Don't even apply for their CC!!!
Exactly what the video says!!!
@@callmefrog76 Hmm , nice comment ... FROG :D Sorry , had to lol .. gubs
Capital one is complete garbage. I ended up walking out of the deal after the price negotiations, set vehicle type and was getting ready for the financing. I failed at utilizing my own financial institution so I opted to see what the dealer offered. Once I saw the name capital one I was a bit skeptical, the finance clown began to start with what I call fudging numbers to reach what I could only interpret as a figure he wanted to reach. Once I saw this garbage with what he and what capital one wanted to charge I left with a quickness. I figured it was cheaper to fix up my old beater than to spend what they wanted.
They send me a pre approval every month
People making 1700 a month: 😐😐
Fun with flags 🏁🏳️
Stay away from cap one auto and credit cards period 🤭😵💫