If you’re in a low income bracket, Capital One might be more likely to approve your loan. However, while neither bank lists credit score requirements, Capital One’s minimum monthly income is unusually low. And it doesn’t require you to shop from approved dealerships. It also has a nationwide network of branches, which Capital One lacks. You can see rate ranges just by plugging in your zip code and loan amount. Unlike Capital One, fellow bank PNC is more transparent with its pricing before you prequalify. If you own a vehicle that’s no longer being manufactured, it’s ineligible for refinancing. The loan servicer requirement is unusual, limiting the usefulness of the company’s auto refinancing offers. Your car must also be less than 10 years old - though there is no maximum mileage - and your current loan servicer cannot be Capital One. To refinance, your outstanding loan amount must be at least $7,500 and have 12 months remaining. These requirements are comparable with requirements from other lenders. ![]() If you’re buying a used car, the amount you want to finance must be at least $4,000 and the vehicle cannot be older than 10 years or have more than 120,000 miles. (those residing in Alaska, Hawaii and Puerto Rico are ineligible)
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