8th Generation Honda Civic Forum banner

1 - 9 of 9 Posts

·
Registered
Joined
·
29 Posts
Discussion Starter #1
anyone here ever used or consider getting their car loan from CapitalOne autofinance? or even E-LOAN?...any good or bad points to consider?

thanks.
 

·
Registered
Joined
·
64 Posts
The Honda dealer that I purchased my Civic from told me that they would not accept an E-LOAN check. Fortunately they actually gave me a BETTER rate than E-LOAN. :)
 

·
Registered
Joined
·
98 Posts
Use a credit union after the deal has been negotiated and bring the check. GAP is considerably cheaper that way (i.e. $600 vs. $260). That is unless they can offer some super crazy rate which our Honda dealers couldn't do.
 

·
Premium Member
Joined
·
6,940 Posts
I personally am going to be using CapitalOne Auto Finance when the Si is FINALLY released. Seems like it'll be forever...

They tend to have a higher interest rate than most other finance options, however if you have less-than-perfect credit, then CapitalOne may offer you the better rate.

One thing I like about CapitalOne that no one else has yet to offer me is the ability to finance 115% of the MSRP of the new car. Now I'm sure you may hear a few people sound off saying how that's not a good idea, but if you are looking to cover ALL of the costs of financing such as tax, title, license, extended warranty, GAP insurance, negative equity of your trade-in, etc, then you can't beat that extra 15 percent.

Another thing is that CapitalOne makes it easy by allowing you to just bring their authorized check with you to the dealership. No hassle of worrying about financing. You just haggle your prices, sign the check, you're done.
 

·
Registered
Joined
·
4 Posts
I strongly recommend getting pre-approved by CapOne. What's get is that they send you a blank check for your car purchase that gives you a real leg up when confronted with the ever so savey finance person at the dealership.
And they almost always try to offer you a better interest rate.
But, beware the add-ons they will try to sell it -rarely do these represent a good deal for you.
I got 2.49% from CapOne in Feb. '04 but those rates are now history.
Expect something like 5.19 to 5.49 if you score high. Goodluck.
 

·
STIG: a tamed race driver
Joined
·
1,630 Posts
eluwak said:
Use a credit union after the deal has been negotiated and bring the check. GAP is considerably cheaper that way (i.e. $600 vs. $260). That is unless they can offer some super crazy rate which our Honda dealers couldn't do.

I just get the gap insurance by my auto insurance company, they call it loan/lease payoff instead of gap, but it's only $26 a year, and after 2 years I'll have the payoff lower than the market value, so gap insurance is only going to cost me $52.
 

·
Registered
Joined
·
98 Posts
I just get the gap insurance by my auto insurance company, they call it loan/lease payoff instead of gap, but it's only $26 a year, and after 2 years I'll have the payoff lower than the market value, so gap insurance is only going to cost me $52.
Didn't even think about that one :cool:
 

·
Registered
Joined
·
49 Posts
xride717 said:
anyone here ever used or consider getting their car loan from CapitalOne autofinance? or even E-LOAN?...any good or bad points to consider?

thanks.
I refinanced my wife's car thru Capital One, got better rates then what we previously had with Chrysler Financial. I would recommend them, they are not that bad to work with.
 

·
Registered
Joined
·
1 Posts
I would definetly recommend Capital One. I refinanced with them and the process was very smooth. I was a little hesitant with doing it online, but everything went really smooth. They had the best rates at the time. Use it if your thinking about it.
 
1 - 9 of 9 Posts
Top