The complaint has been investigated and
resolved to the customer's satisfaction
Capital One Auto Financetrying to negotiate a payoff


I finance my car with Capital One Auto finance 3 years ago. My monthly payments are $432.00 and I currently have a balance on the loan of $7200.00. I lost my job a while ago and my unemployment has run out. I sent Capital One a buy out offer of $4500.00 thinking that they would counter offer about $5500.00. The car is 8 years old and the kelly blue book value in good condition is $5200.00. They never responded my offer so I called them to inquire the status of my offer. I was told that I would have to pay $6900.00. I asked how did they come up with that figure and they stated from the kelly blue book which was not true. I explained that if I owe $7200.00 and I paid this months car payment of $432.00 the amount owed would be less than $6900.00. They stated no it would not because the interest is accruing daily on the principle. I explained that I had no further income and was borrowing money from a freind and the most I could come up with is $5500.00 which is more than the kelly blue book. They stated that was their final offer. I asked if I could get the offer in writing and was told because I filed bankruptcy last year they could not send me a letter stating the payoff amount. I was very upset because they was not willing to work with me nor was the willing to put thier offer in writing.
I will tell every person I encounter not to finance threw Capital One, with the economy being what it is today you would think they would be willing to work with someone who pay thier monthly payment on time and has fallen on heard times.


  • Qu
    "F" It Oct 18, 2010

    With the exception of JustMe531, you people are so full of shi!% I can smell it on your breath. Why is it at that banks get bailed out but tax paying citizens don't when they fall on hard times? Talk all the trash you want to but when you're up shi!% creek (that's right when, not if) without a paddle as are many consumers these days you'll will be singing a different tune. So either get off of your high horses or ride them straight to hell!!!

    0 Votes
  • Ju
    JustMe531 Jul 07, 2010

    Gosh you guys are harsh! I have never been behind on my bills and I have been lucky enough always have a job. But in today's economy not everyone is so lucky. Times are hard all around she did try to do the right thing and pay the car off with what money she had and talk to the creditor.

    0 Votes
  • An
    Annodam420 Jun 28, 2010

    OMG! why cant i get people like you on the phone when people like Kim call in. First off we let you borrow X ammount of dollars for that flash car you are in. In Return we ask that you do three things, 1. pay your payment on time 2. answer the phone when we call 3. pay your payment on time. If you could not afford the car DONT SIGN! It keeps me from having to call people day in and day out and get screamed at because they havent made a payment since March and its now June. Honestly, do you really think Cap One Auto would negotiate the payoff on physical collateral? does your mortgage give u that option? if so i need the name of your mortgage company cuz they are suckers! Grow up and read the damn contract before you sign.

    0 Votes
  • Gr
    grinanbearit Jul 24, 2009

    I agree with both of you in the comments- I don't care what my situation is- I know that I owe my creditors, and I don't expect to be able to haggle with them on how much I think I should really ower because I don't have money. I don't think any contract is written that includes such verbage as- "should you not have the money to pay us for this money we are loaning you- no big deal! We'll just take whatever you think the amount should be that you owe."

    1 Votes
  • Si
    sickofthesedeadbeats Jul 24, 2009

    I couldn't agree more! What is it with people today? They have this profound sense of entitlement. You signed the contract, man up and accept responsibility for your actions.

    2 Votes
  • Ph
    PHD Jun 10, 2009

    A pay-off is a pay-off! The loan that you signed the day you got your vehicle determined how much you pay monthly, how much your APR is, and if you fall behind on your payments what the consequences are. Just because you situation changed from the beginning of the loan and you have a loss in come, doesn't mean the company that offered to lend you money when you didn't have enough to buy the car yourself should lose out. According to your signature at the bottom of the contact you agreed to that. Capital Once Auto Finance is a high-rish lender, next time if you want to finance something, make sure your credit isn't trash otherwise you're lucky to have capital one auto finance approve you in the first place! Stop feeling sorry for yourself just because you lost your job, half the country is ina far worse position than you! Why not py the $5500 bring down your interest and get off your ### look for a job and continue to pay monthly fora limited amount of months.

    3 Votes

Post your comment

    By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions


    Unhappy consumers gather online at and have already logged thousands of complaints.
    If you see dozens of complaints about a certain company on ComplaintsBoard, walk away.
    One of the largest consumer sites online. Posting here your concerns means good exposure for your issues.
    A consumer site aimed at exposing unethical companies and business practices.
    ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people.
    You'll definitely get some directions on how customer service can best solve your problem.
    Do a little research on the seller. Visit consumer complaint websites like ComplaintsBoard.