My husband was approved for a car loan through capital one for a brand new **** vehicle...
GetHuman829580's customer service issue with Capital One Auto Finance from June 2018
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The issue in GetHuman829580's own words
My husband was approved for a car loan through capital one for a brand new **** vehicle in January of ****. I have the credit denial letters from approximately ** other lenders before capital one agreed to finance the loan. I am his wife of ** years and found out about the car and loan in March of ****. My husband admitted to being a drug addict and reported this to his job of ** years at the time and was sent to a mental hospital for ** days for drug detox and rehab. We could not get rid of the car because of it being a brand new loan which would have made us $***** to $***** upside down so we got rid of one of our cars that was a much smarter purchase to keep the car that we now owed so much on. The payments were hard to make of course because they were much higher but in this year I have worked out a different budget and made payments when we could and was only late on one month at the time the car was totaled. BUT because of the inconsistent payments our credit is VERY bad because of a loan that you approved him for that several other banks had denied because of our income to debt ratio which was not a problem at the time because we had * good cars with lower payments bc we bought them gently used. We had to get rid of one of those cars to keep the car that you loaned so we didn’t owe $**,*** or so on a car we no longer had as we have * drivers in our family. The **** car was totaled and insurance has paid their part so again we need a *th car. I was instructed to fill our the prequalifying application because I was telling the Capital one agents that their car loan ruined our credit and just as I had worried about...you have now denied us a loan because of the bad credit ratings that we have acquired due to the loan that you never should have approved in the first place because of the reasons that all of the other lenders denied the same loan the same day that you approved him for the loan we are now paying off early because of a total loss wreck in the car that I thank god every day that my son is still alive after being in the wreck for insurance to pay it off. Please advise as to whether this is a normal transaction for capital one to approve when so many others would not and what in the heck do you advise that we do now because we are a vehicle short with bad credit now and would have been fine if you had denied him like all of the others that I have denial letters from dates the very same day for the very same almost $**,*** car. You have to take into consideration that people get sick and make bad decisions when it comes to a mental illness that we (besides my husband) were not aware of before this happened. Is it your normal policy to loan $**,*** to someone that has been denied by * other banks when they clearly do not need to obtain a loan of that amount whether the person realizes it or not. Otherwise why do you even have an application?why don’t you just let people tell you how much they want and you give it to them only to ruin their lives. He made a huge mistake that he has overcome a lot after getting sober but this is going to hurt us bad! I look forward to you resolving my issue!!!
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