Capital One Blank Check

[InDebtInMD]

Does anyone know what sort of downpayment requirements there are for Cap One Blank Check? I was looking at their website, but could not find anything that specified a minimum downpayment.

[FilingOnMyOwn]

Does anyone know what sort of downpayment requirements there are for Cap One Blank Check? I was looking at their website, but could not find anything that specified a minimum downpayment.

I believe blank check is zer0 down... not 100% sure so could be wrong.

[FearTheVisor]

We were approved for a Cap One Blank Check, up to $30K, at 7.95%, was shocked. It was so nice to have financing already taken care of, we were in total control at the dealership. If you search the net you can find lots of sites that tell ya just how a dealership works (and it's not too pretty as most of you know). DO YOUR HOMEWORK BEFORE STEPPING FOOT INTO ANY DEALERSHIP!!!!! Anywho, we have not had any problems as yet with the Blank Check.

[FilingOnMyOwn]

If you can get a blank check, why the hell would you buy from a dealer? Buy from a private seller, and save thousands.

[FearTheVisor]

With Cap One Blank Check you have to buy from a dealer. Besides I would not trust a "private" seller anymore than I trusted the dealer. Plus, I wanted a new car.

[FilingOnMyOwn]

With Cap One Blank Check you have to buy from a dealer. Besides I would not trust a "private" seller anymore than I trusted the dealer. Plus, I wanted a new car.

If the trust is indifferent, than wouldn't you rather pay thousands of dollars less for the same vehicle with a similar level of trust?

[fsugirl]

Capital one blank check is wonderful ! We have traded cars in twice in the last 5 months (long story !!) and it was so easy...especially if you are purchasing a new vehicle..you literally sign about 5 papers and you are out the door. We purchased a brand new 2006 Nissan Armada and we LOVE IT !!

[CindyLou]

Same here. Very easy; no problems at all! In answer to the first question on the post: There is only a downpayment if your purchase amount exceeds your approval amount. Everyone is given a different approval amount. Mine was for max. of 30000 and with everthing including tt&l was under $19,000. So I did not have a downpayment.

[HHM]

I'd be interested if someone could post the exact terms of the blank check they received.

[CindyLou]

here's copy of one of my previous posts...its actually 9.95% to be exact. i was approved for up to $32.000 but used less then $20,000.
Capital One Blank Check

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Used this process this week to purchase a new vehicle. Pretty easy and straight forward. It feels to good to get back on my feet and have nice things again. BUT we are now staying within our means for sure. Anyway, I got 10% for 72 months on a new Jeep Wranger without anything down. I was able to surrender my Ford Focus back to Ford Motor Credit and keep the Ford Escape that we got in April. We were SO upside down on the focus, which we purchased right before BK last year. Ford was very cool about us returning the focus even though we are keeping the other vehicle we have financed through them. They said it cannot effect the present loan and they will not ever report the CRA again. I felt bad about it but it just didn't seem smart to keep paying on something with such a high rate (18%). I'm rambling, but if anyone if wanting to use Capital One Auto...so far so good. Easy and painless process. Online app took 5 minutes and then I just had to fax a couple of things over. They overnighted the blank check to me. I applied on Wed. and drove home my new car today.

[HHM]

I am just curious if the blank check complies with the TILA (Truth in Lending Act) notice provisions for a "Firm Offer of Credit"

1st, Do these blank checks arrive unsolicited, or did you have to go request one. (it kinda sounds like for some of you the check simply arrived in the mail, and some of you went to the website and requested one).

It sounds like the checks do comply since you are given an amount, an interest rate, and the length of time for payments.

When you say, "I got 10% for 72 months". was that written on the instrument or the accompanying paperwork, or did you find that out when you got your first statement.

[BassBoy]

HHM, is this what you may be inquiring?

Blank Check Term
By signing the check, you will be accepting the terms and conditions of the loan agreement attached to the check.

[CindyLou]

I applied online and the terms were given to me loud and clear at that time. They terms are contingent on you providing your check stubs and driver license via fax prior to using the check. So, unless you have provided incorrect info on your app. that you cannot back up with your check stubs, the terms are firm. Now once you have provided that info; recieved the check, and activated it, the terms are firm and are listed on the back page of the blank check. I'm not sure if they send these out unsolicited?? I know I've received some of these types of things from dealerships that are just trash, but I don't ever remember seeing capital one's name on any of them. I found it very straight forward and on the up and up. Oh, and I only applied for $20,000 but they approved me for up to $32.000. I asked and they said that if you qualify for more they will usually approve you for what you qualify for not what you requested; whether more or less.

[sp114]

I was discharded 11/08/06 and just applied today for the Blank Check. I was approved for 29300.00 at 10.95 %. Not too bad for being discharged less than 2 weeks. I bought the car I have now right before the case was filed and it is a little too small for us. I have found several Ford Explorers that would actually lower my payment a few dollars.

[Kam]

We were approved for 12.95%, $16,610 and 330.00 a month for 60 months.

Hm. Our blank check from Household auto waaay back in 2001 was for 10,500 at 60 months, 303.00. I don't think we will use the check since we are helping to put DD #1 through college and the additional insurance would kill us!