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Capital One Auto Financeterrible experience

A Review updated:

I hope I read all these reports before I applied or Capital One Auto Loan...

Here's the Story...

3 weeks ago I traded in my rare car for a newer car... long story short, I had a preapproved loan with the amount on the blank check provided. After 1 1/2 weeks Porsche dealer called me that the check from Capital One had bounced. I have the preapproval document and check. I called capital one and told me that they need my income docs, so I said ok, i faxed it to them, then a week later all of a sudden they cant do a loan for me, and refuses to say why. I have a good credit score and high income.

So now, the car that I traded is sold, I'm stuck with a car that the trade in value is $10, 000 less than what I owe plus taxes, the good thing is the dealer is on my side, and wanted to call Capital One and they said they will have them buy the car for giving me a bogus approval or else, Porsche vs. Capital One.

I hope they get what they deserve, after reading all the comments here, I called my attorney as well, we are giving them until Friday to make it right, after that. all hell breaks loose. suckers!


  • Ra
    Randyjoyce Nov 02, 2019
    This comment was posted by
    a verified customer
    Verified customer

    Yip! Incompetent to say the least or I hope that is what is is VS just being crooks. I just purchased a slightly used 2018 GMC . We put 5000. down and was given 17K for my truck. We really did not care who we were financed with since we would be sending in 20K to pay it off within a month. We sent the check to Capitol one and they said they cant find it, meanwhile they are charging us daily per/diem. Thankfully the check was not cashed and we stop paid it. I have been on the phone daily with these people from India who cannot understand anything you ask them. I am sending another check and if it goes sideways I am going to contact the atty general for assistance with potentially a class action suite for the bad business practices and potential fraud

    0 Votes
  • Ro
    Rody Ramires Mar 07, 2017
    This comment was posted by
    a verified customer
    Verified customer

    I also had a bad experience. They are crooks, they make believe that you are pre-approved, and they even send and email to you confirming the approval. Then I notice that on the approval contract they type the wrong name of the cosigner, they used your first name as both cosigner and primary. Then they ask you to call them, and when you call them, they say that you filled out the application wrong and that they need you to fax your cosigner social security. I fax it, and call them, they confirmed receiving fax, but told me the application was still under review. The I thought, why is going to be under review if they pre-approved it? After reading all the reviews on this site, I decided to call again to cancel my application, enter my reference number on the phone, and to my surprise the had my application in status" we can not continue your application". Then when I spoke to customer service, I just told them I was calling to cancel my application, and it is like they already expected my call, like they know this happens all the time, mislead customers telling them that they are pre-approved just to see how they can screw-you them up. Thanks God, this was a refinance, I am still good with present lender. I told them about all the bad reviews they have, and they are like they don't care. Watch out, be careful.

    1 Votes
  • Ka
    karen2358 Feb 01, 2017

    Gosh after reading all these complaints I don't know if I should even bother with them and just go thur the dealerships financing . I have also been pre approved for 23.00 for a car. But I will only be financing about 8.500 wonder if they will give me a hard time. I have a credit card with them never been late. My credit is not all that good right now due to the fact lots of medical bills due to a illness when I had no health insurance. I knew this was to easy to good to be true.

    0 Votes
  • Be
    BeyondFrustratedandAngry Sep 03, 2014

    Wow! I wish I would have found all of these complaints before Capital One took us for a ride too! We were approved for up to $21, 600 on a used auto loan. We submitted all of the necessary information and I was told that the initial application was submitted incorrectly, so I needed to shred the 1st blank check I received and fill out a new application correctly. I was hesitant, but went ahead and did what they said. I called to check the status and they said that I had filled the application out incorrectly and needed to fill out a 3rd one. After getting off the phone, I called back to find out exactly how they wanted me to fill it out so that there were no more hang ups, because we already had a car on hold for us, just pending the check. After reviewing, the representative said that she saw nothing wrong with the application and she would make sure it was processed. After submitting my DL and our bank statements, the only other document we needed to send it was my husband's DL. Since our fax was down and they no longer gave me the option of scanning/uploading it, we had to send that in the next day. I called to make sure everything else was in order and the lady told me that they had received everything that they needed and that once his ID was sent it, it could be finalized. I told her we had a car on hold and asked if there was even a small chance that the loan could be denied after we had made it this far because we didn't want to leave the salesman hanging because he had been so helpful thus far. She said "oh no ma'am, I've never heard of that happening! The only change that might happen is that you may end up approved for more money" Since we only needed $13, 000 and were approved for $21, 600, I wasn't concerned. After faxing the final document, we put a rush review on it. I called 2 separate times to verify that everything was where it needed to be and was assured both times that everything was good. I was told once it's completed, I would get an email letting me know. I waited all afternoon -- no phone calls and no emails, so I checked the status online and it said "After carefully reviewing your information, we are unable to approve your application at this time. We will mail you a letter within 7-10 business days that explains the reason for our decision." and basically not to call because no one will be able to tell me any reason as to why. I was so frustrated, angry and disappointed -- now, I'm just shocked at what common practice this apparently is for them. Shame on them for being so deceptive and stringing people along -- thank goodness we didn't go ahead and take the car in good faith, like the salesman had offered!

    0 Votes
  • Th
    thatsjustjesse Jul 07, 2014

    I'm in the same situation. I have an auto loan through them I got a couple years back, so I naturally decided to apply through then again this time around. I was approved and sent the check. I went last week and got the car, but then today, a week later, I'm told that they are not honoring the check. WHAT?! I've had the car a week already, my credit is even better than it was the last loan, and I've never been late. I've been a Capital One customer for years, but I'm closing all my account tomorrow ( I know it wont actually affect them, but I can't consciously stay with a business with such shady practices!

    0 Votes
  • Sa
    SaLan Mar 29, 2014
    This comment was posted by
    a verified customer
    Verified customer

    I applied for an auto finance loan on a Friday. I was approved right away, they showed me the terms and APR rate and everything. I received my blank check and loan terms in the mail on Tuesday. I went to the dealer and picked out a car and then when I contacted capital one with questions to make sure I fill out the check correctly I'm told I am in fact no longer approved! "Please shred the check" and that was the end of it! They refused to talk to me about the situation and said I'll receive a letter. Very shady and misleading. I'm contacting a lawyer this week.

    0 Votes
  • Ro
    Rob1969 Nov 16, 2012

    My experience with Capitol One was unacceptable. When the email was received soliciting the Auto “Blank Check” program, I became interested. I responded by completing the initial application. The following email stated that it had been approved. The email further stated that I needed to forward two items. The first, a copy of identification, and the other proof of salary. I faxed this information to Capitol One that same day. I followed up with a call to Capitol One to confirm they had received everything. They did validate all items were received. On October 31, 2012 the “Blank Check” had been sent with a limit of $13, 200.00. On November 2, 2012, I received the “Blank Check” in the mail. The packet contained the loan contract and a credit report “Snapshot”. Based on the path of emails, telephone conversations and the receipt of the actual check, I was lead to believe I would be able to shop for a new vehicle. TWO WEEKS later, I get a call from Capitol One stating they need additional information I returned the call just to be told that they were not able to verify my salary. I asked what method they used. I said that they had received three months of payroll confirming my yearly salary. They said they had called my employer and were off by 230.00 per week. I went to my HR department and verified through phone logs that no call had been made from Capitol One. They had willingly lied to me. I asked them to please tell me who they verified it with or the number they called, and this could not be provided. I was than told that my debt to income ratio was too high. How could they make that determination if they could not “verify” salary? This is a bait and switch practice where you are lured in by a deceptive promise. Why would they feel the need to send a “ “Blank Check” that you could use (up to a defined limit of course) just to be told 2 weeks later that they have found reasons to no longer keep the offer they had originally made. Because of this, I feel it necessary to file complaints with my states banking department as well as consider additional options to warn the consumer about this scam. I will never do business with Capitol One and I will always make sure I do my best to prevent anyone else from making the same mistake.

    1 Votes
  • Sa
    Satan Themselves Apr 09, 2011
    This comment was posted by
    a verified customer
    Verified customer

    RE: Nightmare with Capital One Auto Finance Company
    RE: Kia Sorento
    RE: Larceny of vehicle payments by Capital One Auto Finance Company

    My car finance company reposed my car Friday, April 8, 2011 under the explanation of lack of car payment. The local branch reviewed my account and found that every payment has been made. They have processed every payment and applied it to an account…..(probably my husbands---but they don’t care to hear it). They still refuse to acknowledge that one penny came from my bank at all. They don’t have the reasoning skills to look at the history and process what could be the problem…. ….one lady said they copies of the checks the bank sent were old because they were from the fall of 2010..which according to them is when I stopped making my car payment. Even with all the data it means about my credibility or information to help them begin the process of locating the mistake….and getting my car back….they bank is determined to get the additional money from me before they even research!!! Yet the Credit Union has given them the answer and they REFUSE to listen to it.
    I contacted the bank and they REJECT any notion to believe any documentation sent to them signed off by the bank is real and not made up. They will only believe cancelled checks that I do not have because of the way they recently changed the way my bill was processed. I know longer get computerized check copies….I wonder…how is the bank has gone months and months without acknowledging or noting any mistake….as one lady did say… money is just out there someplace and the Credit Union and I know EXACTLY where it is…. The lack of detail to one minor number keystroke error is sending me into bankruptcy……Mistakes happen….with computers…it only takes a click..but to refuse to fix it….is unfathomable. I have two accounts with Capital One…..One has Kia written on it and the other has Titan….I can understand how someone never looked closely at the memo on the check or payment…but to refuse to fix it when given clear proof is DESPICABLE….
    I do have two cars financed with Capital one and both are in my name. I told them that the Credit Union researched and located the name and account number of what the bills are being sent and applied to and …..Capital One has they do not want the information and they will do their own RESEARCH and while doing so they will auction my car….
    Thus they will keep my car...charge me daily storage fee...towing fee and DEMAND $2, 700 to get my car back during the investigation...if I don't pay these fees within the next couple of days…. then they will auction my car during this 5 day time I am at wits in because I can't fight this big bank...I have spoken with one department after another...and they all say...I cannot have my car back unless I give the above amount of money...and to make matters worse...they do admit they have all of payments up until December...they believed those because I could provide paper copies of the check...the way it is processed now...the bank can’t give it to the way they want it as a check check would have looked…. HOWEVER, admittedly they said they have my April 1, 2011 payment...a payment sent the same way all the others have been sent….which is how I know it is a rip off to the highest degree on a person with deliberate and methodical planning of vengeance, evil, hate, joy of seeing others fail, hurt and lose everything they have…….and yet once again that payment was sent the same way the Dec. Jan., Feb.. March...and April payments were sent…..this young man told me he had my April payment…and yet not the others….one lady asked did I have a credit card with them…..I told her I had ones years ago that was charged off……which leads me to believe this a new method of getting money from people who have charged off credit cards….They take your car payment and make you lose your car…….. all the while they come out making triple the amount owed on anything…
    They, the bank. said they have never called me since March 2010 because I sent a written letter called to cease and decease contacting me...but they can't provide me a copy...I didn’t write it to my knowledge…...and they said that no one has ever called me from this place since then which is lie...because if my husband is one hour late on his payment they begin calling every hour on the hour to my cell, his cell, and my home number….You cannot escape them….and we have cell phone bills and...
    I have spoken with them numerous of times because of his payments not being there on the exact due date...Yes, I have told them over and over to call my husband as it relates to his truck payment….they have never once called me about the KIA .My husband is a police officer and he knows how research and get cell phone bills if necessary to prove they have called me NUMEROUS times if a payment is one day late...
    However, on Friday, I faxed them a letter of removing the cease and disease because they said they would not call me to even tell me if the found the error because of the cease and disease. I faxed all the bank documents that were never processed until someone looked..although the lady I spoke with said the reinstatement department would look at it and they never got my fax….until I made someone look but he had ounce of care about it….”Oh, yes they are here…I will not it.” ...
    Each person I call is either rude or factiously somewhat person went to the manager and showed the info but would not reinstate my car until I give him paper copies of checks that do not banks certified statements are not legitimate...I was told I cannot speak with any managers personally because they aren't allowed to give me a phone number for those departments...this whole process has turned in to a scam or shakedown to get $2, 700 from me...
    They will keep all my previous payments...without saying they have bank knows they have them and where...and they say they aren't allowed to switch the funds from one account to the I will wind up with no car because as you can see in my account I don't have $3, 000 lying around not including the fees for towing and storage. I am working on a time clock and I need help...they have embarrassed me at work by towing my car and calling...which is a place that is not on my call list…but they have both my cell and house number and can’t use that.They called the police in the town of 20 people where I work… …. and told them they were towing my care for repossession... I had a teacher with me looking for my car like a ridiculous person and now the whole school will know and the horror and stress from this earns me a new car and a reward from them for living throughout this whole process of lunacy…..and No one Cares …..No One Cares at the bank to hear the truth….They just keeps giving me deadlines and demands for back payment…
    I was never given ANY written or phone notice they were coming to get my car...NONE...Not one call….not one letter….nothing…they simply hunted me down and called my job and verified where I was….but no one at work told me either…..and yet they could not call me……me….the owner…..My bills are automatic and thus I don't look at the payments because I know they come out automatically which now is something I will forever check things ...I can't refinance my car anyplace else due to my credit wipeout when my spouse separated...once banks or anyone see that I have had a car reposed they no longer have to finance my loan...They refuse to fix my credit….I have to prove I have a home, job, bank account, references, all because there is repo stamp on my perfect paying car note...a car is something I never miss a payment on since I could drive...they have ruined my car paying credit on my credit report...and still plan to keep my car and auction it next week while they take what is said up to weeks to investigate and I should make payments on a car that is by this point is auctioned off to someone my mind it is downright larceny and fraud...
    I will have to get a rental car that I can't afford to pay for...this is pushing me into losing everything I have...either because of no transportation and/or no funds because of what they say I have to pay to all the other stuff that is of no financial benefit to me and all at a total lost….and the worst part about Capital One at this moment…… they still have no desire to listen to me or read the paperwork and even pretend that I am a person….one man yelled at me and told me I should pay my bills……another harshly said this was the process and he would not answer any other questions….one man was so condescending as if he were reading his script and placating me… lady did get up from her computer….she came back to me with the information that they had received all payments prior to December but would not acknowledge any future payments until hard copy checks are sent…which no longer exist because of the way THEY changed the way my money is processed… man looked and said they had my April 1 payment….Duh!!!...and they can’t follow a trail that says we have an April payment and all the fall payments and yet all the months in between are missing…their lack of checking makes me know this is a scam and rip off
    ….I have not eaten…I’m sick….I crying. I’m stuck at home without a car….I have to call people to run me to places to fax this or get this….my husband is gone…my daughter is in college…the mental strain to this whole predicament is far beyond anything I have had to deal with….I keep thinking it is a bad dream or a movie…They want all of my up-dated history to prove I work, live, or exist…over a keystroke mistake they made in accounting…and a situation they REFUSE to repair……EVEN when the answer is given to them….and then laudably sent back and coldly tell me that when this is all over…I still have to pay the two and storage fee and any additional fees even if it is THEIR fault……O!M!G! …how ignorant do they think people are…..the ignorance is on their part because if they think they can mistreat people and succeed they are crazy……I need some fast help…..Capital One needs punishment.….Sincerely….Robbed Blind!!!

    0 Votes
  • Mi
    mishnu Dec 28, 2010

    i dealt with a dealership in louisiana in 2006. my lumina went under during katrina. i put $8000 down on a demo (2006 HHR), which was priced at $18 000 (with 27000 miles), no extrs...not even a working cigarette lighter. the dealership added a warranty for $2000, and life insurance for $2000. i went back to the dealership denying purchase of the above, lo and behold, the "finance manager" was no longer there. i argued with the attorney generals (two different terms of office), to no avail...the bank changed to capital one auto finance in 2006, which took away my coupon book and sent letters every month...showing amounts owed way in excess of the way...the finance manager had the car financed for 72 months...6 years to pay off the loan...the car was repossessed without warning in february, the bank is saying i was 3 months behind in payments and owe them over $ my opinion it was paid for...the person in the "collections department" snickered when i told her that the car had been taken out of the warning...not a phone call, a knock on the door or a business call...i received a letter stating i should come and pick up my belongings out of dallas...

    0 Votes
  • Li
    Little MAn Aug 28, 2009

    Capital One Auto Finance contacted me and asked me to join there direct pay program, which I did I was informed that all late charges will stop, and I don't have to worry about trying to get a stamp to mail off the payment, sense I joind the direct pay program my account is being charged late fees and no one seem to be able to help. I have been receiving twenty calls a day Capital one. even after I told them I have letters staing that my account is up to date and all the late fees will stop upon joing the program, now it's a different story when you join late fees are being place on my account and call are coming to my house twenty times a day. Don't Capital one auto influence you on joing any of there scams

    -1 Votes
  • Da
    Davy Feb 26, 2009

    How true. No more long distance loans for me either. Rather pay 3 % more and deal with an HONEST local bank.

    1 Votes
  • Aa
    aaronio Feb 04, 2009

    I had the EXACT same LTV fine print problem happen to me just two days ago.

    My wife's car kicked the bucket and it was time to pick out a slightly
    used vehicle to replace it with. We both have great credit (800+) and after
    doing some reading, I decided to apply for financing through Capital One.

    I was approved immediately and sent a blank check. We then rounded up
    as much of a down pmt that we could on such short notice, and managed to
    scrounge up close to $4, 000. This was for a 2007 SUV, mind you. Nothing fancy.

    Our down pmt bumped the total amount needed down toa $11, 000 over 60 months, at an APR of 5.74.
    We could live with that... however...

    Imagine my surprise when we get held up in the financing area
    of the dealership and we're then told that according to the fine print,
    Capital One has only agreed to finance 90% of the vehicle's worth!!!

    I'm told in order to purchase the vehicle, we need to come up
    with another $2, 000 out of pocket.

    WHAT THE F*CK?!?!?!?!?!

    Why wouldn't they provide that information UP FRONT?

    It's a good thing the dealership was willing to get us the same rate
    through someone else!!!

    I've paid off 3 car loans in my lifetime, all on time. Perfect credit...
    but to Capital One, that didn't matter.


    MAKE SURE you check the LTV fine print before you go and assume
    that Capital One Auto Financing will help you so easily. Perfect credit or not.

    Pass the word around - SCAM ARTISTS!!!

    0 Votes
  • I'm in the exact same situation.

    I received the online confirmation for a used car loan through Capital One on a Thursady and ordered the "blank check". I read all of the available information on their website to search for "fine print", and I couldn't find anything unusual. So, on Saturday, I go to the dealership, pick out my vehicle, trade in my old car, and drive my truck home. I promised the dealership that I would return with the "blank check" when it arrived in the mail.

    After reading all of the extra stipulations found in my "loan packet", I noticed that the LTV "Loan to Value" ratio was too high because of some negative equity on my trade in. I called Capital One to see if I could apply for a new loan, or a different type of loan to cover the new amount, and the simple answer was "No, we cannot give you a loan." I couldn't talk to a supervisor or work out anything with the representative on the phone. Their customer service is absolutely horrible. I think the online process is terribly misleading, and that ALL requirements should be communicated up front.

    The car I traded in has been sold. The dealership already paid the remaining balance on the loan for my old car, so now I am at the mercy of the dealership. I called Citibank who I have my mortgage, old auto loan, and a large credit card with, and they said that I couldn't apply for an auto loan personally, I had to go to a dealership and have them apply for me.

    I am so disgusted with banks. We should have never bailed them out - they should have went out of business for poor management and poor business practices.

    1 Votes
  • Un
    unhappy with co Jan 07, 2009

    I have had a similar situation. I applied for the blank check & after submitting all required documents I received an email congratulating me on my approval. I went to the dealership a week later & purchased a vehicle. I have had the vehicle for over a month and have now been told that they can't approve me and will not give an explanation. I now have to hope the dealership can get me financing or I will have to return the car. The dealership even called on the day I purchase & got approval for the check. All Capital One will say is sorry just return the car, even when my other car has been sold. BIG RIPOFF AND VERY BAD CUSTOMER RELATIONS. I will never finance with capital one again. I am cancelling my credit cards with them and changing my checking, savings and CD's with Capital One Bank

    1 Votes

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