Anyone use Capitol One to finance a car?
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From: Los Angeles
Originally Posted by Clayman,Feb 15 2006, 04:41 PM
I used Capital One when I bought my S. I loved their service over the phone, and they were the lowest rate by far. They even give you a further rate discount if you elect to have payments automatically deducted from your account. I chose this option, and I never have to worry about late payments, rate hikes, fees, etc. The best part is that I got approved for the loan in about 20 minutes, and I got the check in the mail the next morning! So far, so good! 
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From: A Quiet Place
Originally Posted by Saint_Spinner,Feb 15 2006, 07:55 PM
I pay all my monthly bills via automated bank withdrawls, but what if I want to pay more and earlier one month and then back to the regular schedule the next? Is that possible? I heard if you elect to pay over the phone, they'll charge a small fee or something?
1. Yes, I believe there is a fee to pay over the phone, so don't do it. Just have them take the $$ out of your bank account every month (you can even pick the date), and you'll never forget it. The other benefit to having automatic withdrawl is the rate deduction. It goes up HALF a point if you elect to manually pay every month. That's just financial stupidity. Why wouldn't you take the rate deduction?
2. If you want to overpay or pay more on the principal, you can still mail them a check. They give you a specific address to which you can mail any extra payments. Scheduled payments with interest go to a completely different address (I seem to remember it's even in a different state).
3. They offer very detailed online payment and account information. You can check the payoff balance, payment history, etc. all within seconds. For me, that's the icing on the cake.
4. The fact they got a blank check to me less than 12 hours after applying for the loan is further testament to their convenience. The guy with whom I spoke was very cool, and he and I even talked for a bit about the car!
If you don't have access to a credit union or a buddy who's an investment banker, this is the best way to go. No hassle, good results. Works for me.
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From: Los Angeles
Originally Posted by Clayman,Feb 15 2006, 06:18 PM
Well here are a few things to remember about Capital One:
1. Yes, I believe there is a fee to pay over the phone, so don't do it. Just have them take the $$ out of your bank account every month (you can even pick the date), and you'll never forget it. The other benefit to having automatic withdrawl is the rate deduction. It goes up HALF a point if you elect to manually pay every month. That's just financial stupidity. Why wouldn't you take the rate deduction?
2. If you want to overpay or pay more on the principal, you can still mail them a check. They give you a specific address to which you can mail any extra payments. Scheduled payments with interest go to a completely different address (I seem to remember it's even in a different state).
3. They offer very detailed online payment and account information. You can check the payoff balance, payment history, etc. all within seconds. For me, that's the icing on the cake.
4. The fact they got a blank check to me less than 12 hours after applying for the loan is further testament to their convenience. The guy with whom I spoke was very cool, and he and I even talked for a bit about the car!
If you don't have access to a credit union or a buddy who's an investment banker, this is the best way to go. No hassle, good results. Works for me.
1. Yes, I believe there is a fee to pay over the phone, so don't do it. Just have them take the $$ out of your bank account every month (you can even pick the date), and you'll never forget it. The other benefit to having automatic withdrawl is the rate deduction. It goes up HALF a point if you elect to manually pay every month. That's just financial stupidity. Why wouldn't you take the rate deduction?
2. If you want to overpay or pay more on the principal, you can still mail them a check. They give you a specific address to which you can mail any extra payments. Scheduled payments with interest go to a completely different address (I seem to remember it's even in a different state).
3. They offer very detailed online payment and account information. You can check the payoff balance, payment history, etc. all within seconds. For me, that's the icing on the cake.
4. The fact they got a blank check to me less than 12 hours after applying for the loan is further testament to their convenience. The guy with whom I spoke was very cool, and he and I even talked for a bit about the car!
If you don't have access to a credit union or a buddy who's an investment banker, this is the best way to go. No hassle, good results. Works for me.
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From: Madison
They were great the time I used them for my last MKIV Supra. I haven't used them within the last 1.5 years though but a friend of mine who also just bought a viper used capitol one and was surprised with the ease of the transaction and couldn't be happier
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