Anyone use Capital One auto finance?

[tony]

I use them and I've been looking over my statements for my payoff and it has barely moved. The thing is, I send additional payments every month so I can pay my loan off faster. Online they dont show a true itemized statement (which is leading me to believe its set up this way on purpose) and the last payment I sent I put in an additional $200 on top of the regular payment but only $150 was applied from the entire payment.

I'll be giving them a call tomorrow but I was just wondering if anyone else has financed through them and had issues. Its like my balance has barely budged and I KNOW I'm sending $50 or more extra each month.

[quickdodge®]

I just had a friend get four cars repo-ed by them last month. Wouldn't budge a minute on anything. And he was doing the same thing by paying extra on each car. Sometimes doubling up on payments. Later, QD.

[AirMax95]

Tony, how do you make your payments?

If you mail in your payment: Send 2 checks and notify them of a principal only payment. If you send one check they still hit the total amount with interest.

I used Chase, and on the payment slip there was a box that you could check that made any $ amount over the "said" payment, principle only. Look for something like that on the slip.

Also, they may have a "principle only" P.O. Box for for mailing.


Hope this helps.

[tony]

Tony, how do you make your payments?

If you mail in your payment: Send 2 checks and notify them of a principal only payment. If you send one check they still hit the total amount with interest.

I used Chase, and on the payment slip there was a box that you could check that made any $ amount over the "said" payment, principle only. Look for something like that on the slip.

Also, they may have a "principle only" P.O. Box for for mailing.


Hope this helps.

I do mine electronically.. online bill pay. God its stupid that you have to do that but you're probably right, my credit union just applies the additional to the principal. Another reason I'll only deal with credit unions in the future.

[AirMax95]

Yeah, same happens electronically. You are forced to call them to ensure that the "extra" is principal only. Really gay....

When you call them, tell them to go back to every single payment made and RE-calculate the figures. They will do it most likely.

[SL65AMG]

delta ccu ftmfw.

[YoTa_BoX]

I used them buying one of my cars and they told me i was not allowed to make more than 2 payments at a time.. and if i did make 2 payments it would only go to interest alone and not to the balance of the car. I didnt understand that my self but the guy told me its not worth sending in more.

My only thought is to call them up and ask their policy on making more than one payment at a time..

[BirdmanSRT]

Capitol One does have another address where you can mail principal only payment to but in my opinion Capitol One does suck!!!