Capital One approved my $24K car loan with me only a month out of school, and they did it in less than thirty minutes.
I'm okay with that. I've never had a Capital One credit card.
I've asked for "Internet prices" (fleet prices) from several local Honda dealers on 2004 Honda Accord coup V6-EX (heated leather seats, power moonroof, six CD changer, etc. all standard). I've gotten two responses since this morning... both are several hundred dollars under invoice, and I (hopefully) won't have to deal much with car salesmen.
For instance, a Toyota dealer called me this morning to sell me a truck through the Costco program. He said he has exactly what I was looking for right there on the lot. I asked him what that was, and he had no idea. He started rattling off some options until I asked if it had the convenience package, and then he was like, "Yeah, and it's the only one in the state!" How much? "Oh, I can't tell you over the phone. It's against the law." Really?? "Oh yeah, it's that federal privacy act law. We can't make calls and tell people a price over the phone. You need to come in."
Yeah.
With my 3.6% Capital One rate in hand, I'm in a much better position to negotiate with Honda's 1.9-3.9% (up to 60 months) incentive rate.
