Nissan Titan Forum banner

1 - 20 of 23 Posts

·
Registered
Joined
·
232 Posts
I used them, for the first time recently. Of course the low rate on the website is for a very high (perfect) credit score. The rate I got for 35K @ 60 mos was 4.24 percent (very good I thought). I've had credit problems years ago and have been working hard to get it shaped up, I know I have a high credit score currently but still didn't know what to expect.

I requested 35K which I figured was plenty for a SE, plus any options or extened coverage etc..etc. The cool part was I walked into the dealer with basically a blank check. I didn't follow through because the dealer did beat it with a 4.20 (also a simple interest loan).

I didn't follow through becuase of a few dollars but they would be my first choice next time. :thumbsup:

It's great to go into the dealer with the loan all worked out. They will try to beat it, to get "some" comission usually a lot less then they planned for.

Another thing the pre-approval rate is good for any amount up to the limit requested (I think the floor was $7,500 or $10,000), so in my case if I wrote the check for 30 of the 35K the term would remain the same.




SarkaZm said:
Has anyone applied at Capital One for their loan? If so, can you let me know how they are - Did you actually get the low rate?

Thanks

SARKAZM
 

·
Registered
Joined
·
119 Posts
I used them to finance my Titan. Got a 3.99% rate only after agreeing to auto withdraw from checking. Dealer tried like hell to get me to finance through them instead of Capital One. Might be a good bargaining tool for you. For me 3.5 vs. 3.99 over 5 years was only a $200 savings.

The way I look at it, the less you put in the dealers hands, they less they have to screw up or screw you with. I declined their offer.

Capital One was first class and easy to deal with.
 

·
Registered
Joined
·
513 Posts
You should also check local credit unions because they give very good rates. I got a 4.5% from mine, the dealer wanted 6.9 so i came back and told them my credit union would give me that and they matched it.
 

·
Registered
Joined
·
183 Posts
If you belong to AAA, they have good rates, too. The current rate today (in Massachusetts) for a new car, 60 mo loan is 3.99% (probably assuming you have good credit).
 

·
Registered
Joined
·
11 Posts
I have had a loan thru them in the past, got the best rate they advertised on the web. If I recall correctly you have to sign up for auto deduct from your bank account to get the best rate. Sign up is a breeze. I have a friend who got a little over 30k at 6% on 40 year old Lamborghini from them.
 

·
Registered
Joined
·
1,164 Posts
Discussion Starter #7
I don't think i'm going to go with a credit union this time. Last time I did the dealer offered a lower rate, but my CU wouldn't let me out of the contract, even after the dealer offered to pay some of the fees! I like the idea of going in with the Capitol One check in hand and then have the dealer try to beat it! Thanks guys & gals.

SARKAZM
 

·
Registered
Joined
·
662 Posts
MaxPowers said:
You should also check local credit unions because they give very good rates. I got a 4.5% from mine, the dealer wanted 6.9 so i came back and told them my credit union would give me that and they matched it.
Really local credit unions are very hard to beat in most cases...I was able to 3.25% for 60 months.
 

·
Registered
Joined
·
339 Posts
Anyone thought of doing an Equity line on your house to pay for the Titan? If so, what rate and how did it work out?
 

·
Registered
Joined
·
33 Posts
pyromedic said:
Anyone thought of doing an Equity line on your house to pay for the Titan? If so, what rate and how did it work out?
I got 3.5% from my credit union. A line would have been 4.75%. Not really worth it to me as it wouldn't offer enough as an interest write-off...
 

·
Banned
Joined
·
1,686 Posts
so if i apply for this loan at capital one they would send me the blank check (for whatever amount im approved for) and i would pay the car off in full and then just pay capital one back over the 60 months???
 

·
Registered
Joined
·
232 Posts
The blank check is totally blank it has a limit of whatever you apply/are approved for. You write the check to the dealer for whatever amount you need, and that figure becomes the loan amount (Amount Financed). You now have a loan with Capital One for that amount.

jhromy said:
so if i apply for this loan at capital one they would send me the blank check (for whatever amount im approved for) and i would pay the car off in full and then just pay capital one back over the 60 months???
 

·
Registered
Joined
·
80 Posts
pyromedic said:
Anyone thought of doing an Equity line on your house to pay for the Titan? If so, what rate and how did it work out?
Pyromedic,

I looked into this a few years back, thinking of writing it off, but then the down side becomes...if you want to sell your house, your Titan becomes part of that loan. You will either have to spend all your equity in paying this loan or refinance your truck/car again. That was enough to stop me, plus the rates aren't any better and in most cases worse.

SarkaZm,

As for the Capital One question, I've applied for a check for my Titan and still have it sitting on the table. They have been very easy to work with and if I need to increase the amount or time, I just need to call and let them know. I do need to call because I see the rate went down again, so will lock that in for another 30 days.
 

·
Registered
Joined
·
1,582 Posts
i got 3.4 @60 MONTHS AT MY LOCAL CREDIT UNION and that was cheaper than capital one btu they were easy to work with i just ended up geting a better rate through my credit union
 

·
Banned
Joined
·
1,686 Posts
geece1 said:
The blank check is totally blank it has a limit of whatever you apply/are approved for. You write the check to the dealer for whatever amount you need, and that figure becomes the loan amount (Amount Financed). You now have a loan with Capital One for that amount.

so let me see if i get this correct...if i apply and get lets say 35,000 but lets say i put down 8,000 of my own money for the down payment with like a 25,000 balance, i only have to pay that 25,000 back correct??? I'm not going to be getting the extra 10 in cash correct...sorry if the question seems dumb
 

·
Banned
Joined
·
1,686 Posts
cool thanks guys that gives me an option in sept when i get my titan :cheers:
 
1 - 20 of 23 Posts
Top