- Report: #406628
Complaint Review: Capital One Auto Finance - Long Beach California
-
Author Confirmed
Why?
Capital One Auto Finance
P.O. Box 93016 Long Beach, 90809 California, U.S.A.
Phone:
800-227-3863
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Capital One Auto Finance Will Not lower there interest rateContacted Long Beach California
When i called cap 1 I was in contact with a women named jasmine. She told me that the 16.25% interest rate i am paying can not be lowered and that i would have to refinance in order to get a different rate, she did not say if that would be higher or lower. This sounds like NOT a good deal. I told her if i was going to do that I would just pay off the Balance. She said that payoff not only includes the principle but also the interest. All i wanted to do was to get a little lower interest rate so my payment would apply to the principle and i could get it paid down.She said that refinance or payoff was the only way. Does not sound to promising to me! Just wondered if I am the only one in this boat? Any help,let me know.
W.J.
Fayetteville, Arkansas
U.S.A.
W.J.
Fayetteville, Arkansas
U.S.A.
7 Updates & Rebuttals
D K
Jacksonville,Florida,
U.S.A.
NO RIP OFF HERE
#2Consumer Suggestion
Tue, January 06, 2009
You agreed to the interest rate when you agreed to purchase the vehicle. And don't forget, your interest rate is based on YOU and YOUR credit. Why would you tihnk they would lower the rate that YOU legally agreed to? Geesh.. NO rip off here.
D K
Jacksonville,Florida,
U.S.A.
NO RIP OFF HERE
#3Consumer Suggestion
Tue, January 06, 2009
You agreed to the interest rate when you agreed to purchase the vehicle. And don't forget, your interest rate is based on YOU and YOUR credit. Why would you tihnk they would lower the rate that YOU legally agreed to? Geesh.. NO rip off here.
D K
Jacksonville,Florida,
U.S.A.
NO RIP OFF HERE
#4Consumer Suggestion
Tue, January 06, 2009
You agreed to the interest rate when you agreed to purchase the vehicle. And don't forget, your interest rate is based on YOU and YOUR credit. Why would you tihnk they would lower the rate that YOU legally agreed to? Geesh.. NO rip off here.
Use Your Brain
Wesley Chapel,Florida,
U.S.A.
Seriously?
#5Consumer Suggestion
Mon, January 05, 2009
You refinance with another company. Pretty plain and simple. The payoff you are given is for 10-days, and it includes interest for those 10 days and what is left of the principle of the original loan. It's a car loan, it's always going to be simple interest so if you're constantly running behind it isn't going to go towards principle. Just like with a mortgage as well, at the beginning of the loan you're always paying towards interest. It's pretty cut and dry like that with any car loan. If you want to pay it off early pay more than the minimum or pay something in addition to the regular payment directly towards the principle. You can't lower an interest rate on a locked in contract, it's not like a credit card. Seriously, go to your bank and see if they will refinance you. That means they will take the balance of your loan and divide it up into payments. If your credit sucks well then maybe you need to work on that before trying to refinance.
Use Your Brain
Wesley Chapel,Florida,
U.S.A.
Seriously?
#6Consumer Suggestion
Mon, January 05, 2009
You refinance with another company. Pretty plain and simple. The payoff you are given is for 10-days, and it includes interest for those 10 days and what is left of the principle of the original loan. It's a car loan, it's always going to be simple interest so if you're constantly running behind it isn't going to go towards principle. Just like with a mortgage as well, at the beginning of the loan you're always paying towards interest. It's pretty cut and dry like that with any car loan. If you want to pay it off early pay more than the minimum or pay something in addition to the regular payment directly towards the principle. You can't lower an interest rate on a locked in contract, it's not like a credit card. Seriously, go to your bank and see if they will refinance you. That means they will take the balance of your loan and divide it up into payments. If your credit sucks well then maybe you need to work on that before trying to refinance.
Use Your Brain
Wesley Chapel,Florida,
U.S.A.
Seriously?
#7Consumer Suggestion
Mon, January 05, 2009
You refinance with another company. Pretty plain and simple. The payoff you are given is for 10-days, and it includes interest for those 10 days and what is left of the principle of the original loan. It's a car loan, it's always going to be simple interest so if you're constantly running behind it isn't going to go towards principle. Just like with a mortgage as well, at the beginning of the loan you're always paying towards interest. It's pretty cut and dry like that with any car loan. If you want to pay it off early pay more than the minimum or pay something in addition to the regular payment directly towards the principle. You can't lower an interest rate on a locked in contract, it's not like a credit card. Seriously, go to your bank and see if they will refinance you. That means they will take the balance of your loan and divide it up into payments. If your credit sucks well then maybe you need to work on that before trying to refinance.
Use Your Brain
Wesley Chapel,Florida,
U.S.A.
Seriously?
#8Consumer Suggestion
Mon, January 05, 2009
You refinance with another company. Pretty plain and simple. The payoff you are given is for 10-days, and it includes interest for those 10 days and what is left of the principle of the original loan. It's a car loan, it's always going to be simple interest so if you're constantly running behind it isn't going to go towards principle. Just like with a mortgage as well, at the beginning of the loan you're always paying towards interest. It's pretty cut and dry like that with any car loan. If you want to pay it off early pay more than the minimum or pay something in addition to the regular payment directly towards the principle. You can't lower an interest rate on a locked in contract, it's not like a credit card. Seriously, go to your bank and see if they will refinance you. That means they will take the balance of your loan and divide it up into payments. If your credit sucks well then maybe you need to work on that before trying to refinance.
