As advertised here:
http://www.driveone.com/financing-learn-more.html

Any downsides to this versus say a credit union or something..?


thanks

 

yeah, your interest rate will likely be higher with Capitol One

 

I almost went with capital one but a big turn off was the paperwork they required. It really wasn't a big deal I was just lazy. They gave me lower rates than anyone else would until I got the Z. I ended with a rate that was just slightly better. If I ever get a different car I might consider them again.

 

what paperwork? It wasnt much. I used them for two different cars and they gave me a great rate, and have been nothing but good to me

 

They were the highest rate when I was searching for a loan last year. I think they were 3% higher than the lowest one I got.

 

I have T1 credit and I decided to check out Capitol One because people were saying how great they are. I submitted my info and 2 days later a rep called me and said congrats you've been approved..we are happy to qualify you at 18% APR. WTF..I told her the best I qualifed at the time was 3.5%...can you do better? She said no..but...***I hung up the phone***

 

Interesting, so what sort of rate should I be aiming for? Sorry I have no idea on these things...

 

That is what HSBC did to me and Capital One gave me a 6% loan

 

do lending tree online...they offered me the lowest through that. i have no beef with them. they have been good to me

 

I have my Z on capital one right now. They were quick and painless. They gave me a decent rate, better than my bank and better than e-loan I didn't have much credit being out of college for less than a year, but my credit score was above average. It took me probably 15 min to fill out the paperwork and that was it. Within an hour I had an email from them saying I was approved* pending a look-over by a loan officer making sure everything was filled out correctly. Which it was and a total of 3 hours after I submitted my form the officer gave me a call. So far been no problem, I don't even think about it anymore, money gets directly withdrawn from my account. I've only been with them 3-4 months though.

One specific reason I chose cap one over my bank or other loan places was because you can re-amortize your loan for free as many times as you want. Basically if you pay more than minimum you can a) pay it off early or b) re-amoritize and lower your monthly payment based on what you owe vs. total time left on loan.

Since I plan on paying it off early that's fine with me, but in the event that something happens and I need more monthly money I don't have to worry about being stuck at a high monthly payment.

***Oh and a side note on any on-line loan forms never check the box that says, if we can't get you a rate one of our partners might be able to. They just send all your info to a loan clearing house agency and you'll get loan spam for the next 50 years***

 

thanks alot for the advice guys very usefull!

 

Damn! I did not even initially notice the Z in the background.

[edit] ARGH! and then I did not even remember to answer.

Capital One will most likely be higher. Credit Unions typically give their members great rates compared to Banks. Nissan was the best rate for me.

I would think the car makers may give you the best because banks are not in the business of taking a car and then trying to re-sell if someone defaults. They can lose a lot by having to have one of those repo sales.

 

I've purchaed my last two cars and my current Z w/ a Cap One Blank Check. Only way I'll go now if I can help it. They've been very good to me. Most of the paperwork is on the dealer. I applied online and received a phone call shortly after w/ approval and to tell me the "check" was on it's way overnight.

 

Credit Unions will often have the lowest rate on auto loans because the want you to start banking with them. I received a rate 2% lower than anyone elso when I purchased my Z.

 

I'm going to apply for a Capital One loan soon. I really need to refinance...I got hit with 12% from the dealer! And they tried to give me 19%! But I really wanted this exact car so I had to go through...now I need to get a loan elsewhere.

 

CapOne, HSBC , BB&T, Wells Fargo,Americredit and CitiFinancial Auto are about the same when it comes to rates.It all dpends on credit score or Beacon. Citi Auto owned by "Citigroup" is the largest financial lending group in the world.We have rates as low as 4.99% which isnt that low but is about the norm for auto loans. Shop around and good luck

 

Thanks for the info its so very helpfull.


The girl in the pic is Maylea (obviously) I did a photoshoot with her last summer, she's greAT! Maybe more to come if I can meet up with her again

 

I thought about refinancing through Capital one, cause i hear good things about them. Currently i have Americredit with an above average % but i have had no problems with them at all. At the time my credit was poor, and Americredit was the only one that took a chance.

 

I just used them to buy a used Jeep Wrangler for a winter vehicle. Paperwork aside, it was relatively painless. I got approved at a decent rate and everything worked out great. I would recommend it and would use it again in the future.

 

Make sure they don't penalize you for paying more than the payment!