Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Sign in to follow this  

Approved for Cap1 Blank Check!!!

The last post in this topic was posted 3473 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

I've searched and it seems that it's a pretty straightforward process. Are there any pitfalls or words of caution I need to be aware of before really starting my search?

 

I was approved, I just need to verify my income and send my driver's license info. My income info was correct, so I don't need to worry about anything getting denied at the last minute, right?

 

I'm looking for a 2006 or newer Volvo wagon.

Share this post


Link to post
Share on other sites

BMW> Volvo?

 

Please elaborate. See, my dream car is the BMW X3. But it's be a 2007, and it seems that 2007 X3s are not as reliable as the v70 or xc70 (or xc90, possibly). Price is comparable, but I worry about cost to maintain and reliability.

Share this post


Link to post
Share on other sites

I was declined for the blank check but I went into Carmax and I got approved in 10 minutes for almost 30k. I bought a BMW 335I with 30k miles for 25k plus tax and warranty good rate despite my CH7 discharged 2 months ago. Needed pay stub and insurance that's it. Capital One rocks in my opinion.

Edited by brokr741

Share this post


Link to post
Share on other sites

Recently helped mom by a car with one of these...

 

It wasn't as painless as expected, but that was partly due to the dealer's hesitation to accept that it was an approval and not a pre-approved mail solicitation (they look a LOT alike) Had to wait 24 hrs for dealer to get verification from Cap1, and all went well after that.

 

It was also a little tough because we bought a new car, and Cap1 is pretty tight on LTV. We had to negotiate the price of the car down like crazy to get into LTV requirements, but I can't complain about the results of doing so! :grin:

 

Our strategy was that we had approval in hand with terms we were comfortable with. We then let the dealer see if they could offer anything better, knowing we always had a fallback we were satisfied with. I'd highly suggest this approach for plenty of reasons.

 

Congrats on the approval and enjoy your new car :)

Share this post


Link to post
Share on other sites

I've searched and it seems that it's a pretty straightforward process. Are there any pitfalls or words of caution I need to be aware of before really starting my search?I was approved, I just need to verify my income and send my driver's license info. My income info was correct, so I don't need to worry about anything getting denied at the last minute, right?I'm looking for a 2006 or newer Volvo wagon.

 

What kind of scores do you have? and did they pull all 3 in normal cap one fashion? I have a cap one card and they keep sending me approval letters in the mail for auto loan. I'm just wondering if its something i should look into. Do they have ok interest rates or bad?

Share this post


Link to post
Share on other sites

I've searched and it seems that it's a pretty straightforward process. Are there any pitfalls or words of caution I need to be aware of before really starting my search?I was approved, I just need to verify my income and send my driver's license info. My income info was correct, so I don't need to worry about anything getting denied at the last minute, right?I'm looking for a 2006 or newer Volvo wagon.

 

What kind of scores do you have? and did they pull all 3 in normal cap one fashion? I have a cap one card and they keep sending me approval letters in the mail for auto loan. I'm just wondering if its something i should look into. Do they have ok interest rates or bad?

 

EQ and TU are both about 550. The rate is between 10 and 13%, depending on what year of car I buy. Roadloans wanted 18 or 21% depending on down payment. RL also only approved for 18k, and Cap1 gave me 21k. I'm pleased!

 

ETA: And, yes, they pulled all 3.

Edited by Juniper117

Share this post


Link to post
Share on other sites

PSECU was great, just mailed me the check and said go to town! it's been 10 years since i did this but i remember the smug dealer regarding financing:

 

tell them you got a great rate and term and see if they can match it..mine couldnt..at that time 7.9 for 84 months was unheard of at my dealer for such an old car

 

forget all the extended warranty crap even if they tell you you get X oil changes and this and that all included free! they really did a hard sell and i just kept smiling and saying how many times do i have to tell you i am not interested. nor in their 'free' towing, i dont mind paying for AAA who will tow me anywhere.

 

just remembered something....as far as negotiating price i got lucky and was at one of those 'fixed' price dealers but i said i wanted a tire allowance because those look rather worn, and i got it! be creative, it can pay. they tried telling me they cant lower their prices because it's unfair to others.

Share this post


Link to post
Share on other sites

I was declined for the blank check but I went into Carmax and I got approved in 10 minutes for almost 30k. I bought a BMW 335I with 30k miles for 25k plus tax and warranty good rate despite my CH7 discharged 2 months ago. Needed pay stub and insurance that's it. Capital One rocks in my opinion.

 

I had went to Carmax 2 months post BK and Cap One approved me for what I wanted. Even though it was 30k like the above post. But Cap One came through when I needed them.

Share this post


Link to post
Share on other sites

I've searched and it seems that it's a pretty straightforward process. Are there any pitfalls or words of caution I need to be aware of before really starting my search?

 

I was approved, I just need to verify my income and send my driver's license info. My income info was correct, so I don't need to worry about anything getting denied at the last minute, right?

 

I'm looking for a 2006 or newer Volvo wagon.

I faxed my info in at around 2pm & I got the email roughly 1 hour later saying my blank check is activated so, apparently it doesn't take 2 days for them to verify your info. Mine was done in about 1 hour. Now I'm trying to figure out what kind of vehicle I want to get.

Share this post


Link to post
Share on other sites

I was declined for the blank check but I went into Carmax and I got approved in 10 minutes for almost 30k. I bought a BMW 335I with 30k miles for 25k plus tax and warranty good rate despite my CH7 discharged 2 months ago. Needed pay stub and insurance that's it. Capital One rocks in my opinion.

 

 

Did you IIB CapOne?

Share this post


Link to post
Share on other sites

The last post in this topic was posted 3473 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Today's Birthdays

    1. Mikki01
      Age: 48
  • Member Statistics

    • Total Members
      178,815
    • Most Online
      2,046

    Newest Member
    tfish1990
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines