Capital One Issues!!!!

[twiz88]

I have a current auto loan with capital One bank, I applied for a new auto loan yesterday so I can trade in my current vehicle. They only approved me for 20K I need 25k for the new vehicle. Here's my problem they are not requiring me to trade in my current vehicle which is financed through them. They basically are saying its ok to have TWO DIFFERENT AUTO LOANS at 20k each. I believe they can offer me more money on the new loan that i applied for yesterday if they know i'm trading in the current vehicle. Believe me I have called, and explained in great detail to Capital One on the two auto loan deals. I keep getting "This is what the computer has set for you" from the reps when I call. They say its no underwriter and nothing they can do. I would like to talk to someone about this. Its stupid to allow me to have two auto loans with the same company adding up to over 40K. But they won't approve me for 25K in a single loan because of debt to income!!!! Doesn't add up at all,the debt to income is off because I have a current auto loan that they are clearly not paying attention too. I have had plenty cars never had an auto loan company do this.

Discharge 10/9/13

[tobee43]

have you talked to your dealership?? funny we went through cap one was approved for 42k @ ,yuck 5.1%. six months later i get a call from our credit union offering us 2.25%, oh thanks i just paid it off so cap one didn't get the interest anyway. so CALL a credit union if you have one. one of the first things i did back in the day was listened carefully to the advise on this board even tho i was a lurker. i immediately opened up an account at a local credit union. it's worth a shot? and talk to the dealership as well. you never know, if you got approved for 20k maybe they will work with you on the trade in value?

[Drazil65]

Hi, question, why don't you find a vehicle within the amount or less than what you were approved for and still make the trade? $20k is a lot for a car and it might just make your financial life easier on you if you go for what you are already approved for? Good Luck!