They really wanted him to use that entire $40,000. They even tried to justify it by changing the contract from a 60 months to 72 months. They had added all kinds of crap to the paperwork, like Gap, insurance and all kinds of stuff. Well low and behold we knew why it was so high.
So after we kept reiterating that we wanted the contract dry, we went to go in to sign the papers. Of course he knew the interest rate before we went which was 3.6%, but the manager came out and told him it was actually much higher, I belive he said around a 7%. And as long as your TOTAL purchase price (including tax, title, license, options, warranty, etc) equals the amount you entered in the Capital One site, you'll get the rate and payment amount that shows up there for that vehicle.īoyfriend did it through Cap1 at an Autonation Ford dealership. The dealer will ultimately get his money from Capital One, and you will make your payments to Capital One. It is between the buyer and the dealer to resolve the discrepancy, not Capital One. or because the person himself did not know he was underwater on his trade, or whatever. This covers Capital One in case someone got on the Auto Navigator and put in a $15,000 purchase price, nothing down, got a payment quote of say $250 - but then the contract presented to them at the dealership had a payment amount of $325 because the dealer tacked on GAP, extended warranty, service packages, etc. Capital One is signing on to handle the funding of your purchase, but they are telling you that they aren't going to talk to your dealer about the vehicle, pricing, warranty, options, GAP, etc, etc - all of that is on you to negotiate.
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