CapitalOne Auto Finance: Experiences?

Some closure from me on this topic. Got to dealer today with Capital One check, dealer had no problem with it, but did say, "what if I can beat rate?" I said sure, he came up with 4.7% (36 months) for me, vs. my Capital One 5.0% (36 months) rate. Took an extra 5 minutes to complete 3 extra lines on a credit app, saved me approx $180 over Capital One (in today's dollars).

Capital One still appears to be a great way to go into the deal though just as a backup / negotiating tool.

 

Another quick note, and a *big* caveat about switching to dealer financing.

Capital One puts a cap on the check when you arrange financing.

If you switch from Capital One to dealer financing, then suddenly your "financing wallet" is open and the games begin. "Which extended warrenty would you like? It can be rolled into your financing." "Life Insurance? You can finance that too" etc. The minute I said OK to the lower rate, he started rolling all of this extra crap out.

Where the Capital One ceilling might have prevented these sales, the dealer has carte blanch now the he is offering to finance all of this extra stuff.

Stick to your guns and just say no to this extra junk, even if it appears only to be just a few dollars more per month.