Have you guys ever heard of Capital One Auto Financing? I have a capital one card so I got this letter a few weeks ago saying I was preapproved for a car loan. since I am looking into getting one soon I figured I'd apply to see what I could get. Well I got approved a 30,825.00 limit on a car or truck of my choice. The even is only for two days. this friday and saturday. The thing I like is that I am already guaranteed a car even with no money down. What I dont like is that its from a credit card company. Have any of you guys ever heard of something like this? its not like bying a car with a credit card, these guys are affiliates of Capital One but they are a financing agency. what I am concerned about is that they might try to charge me handeling fees and management fees like credit cards do. has anyone ever heard of anyone buying a car through people like these?

im pretty sure it will be just like a credit card purchase. Miss 2 payments, and boom a 25% APR.

What is the interest rate? Don't jump on the offer. Think it through. Put up the 3000gt on ebay, you'll get a lot more than the dealer will give you for it. Another thing: do you NEED to spend $30k on the car, or are you going to be happy with a $15k car, and maybe $5k in mods, and save the rest for something else?

What is the interest rate? Don't jump on the offer. Think it through. Put up the 3000gt on ebay, you'll get a lot more than the dealer will give you for it. Another thing: do you NEED to spend $30k on the car, or are you going to be happy with a $15k car, and maybe $5k in mods, and save the rest for something else?
Ive done the whole buy a car, mod a car .......blow up a car crap before. nahhh man, I'd rather buy a car with alot of grunt from the showroom then to get an econobox and mod it. either way knowing me, even if it came with 1000hp stock, my crazy ass would still put a cold air intake and cat-back on it!

no It dosent have to be 30K car, it could be nice car like an SRT-4 or a Cobalt SS, or it could be a more high end car like a EVO or a 350Z.

the only problem I see here is that I really dont have any money down cause I wassnt planning on getting another car untill late July. but this offer expires on Saturday. if I get it now it'd be like buying a 25K car with no money down and financing that for 5 years.....I'd still pay $500.00 + a month! I dont wanna pay that much for a car! on the flip side my slow ass 3000GT is 11 years old and I'm still paying $285.00 a month on it.......and I still have 8 more payments to go!

what I really wanted to do was get something a little faster, a 14 second car stock and pay a few more bucks a month. if I'm gonna pay for it then it might as well be worth paying for right? but this deal might not be a good idea. I got to think about my wife and the house and shit. I cant sacrifice that just so I can drive a faster car.

guess you answered your own question then.

They wouldn't be handing out loans for a limited time unless something really screwy is going on. Forcing a loan through is a great way to get people to buy stuff they can't afford. You may have to pay a high interest rate on it.

Just something to keep in mind: Car salesman, credit companies, etc are trying to turn you into an impulse buyer. That's bad, because you're buying something because of an emotion, not because you've thought about it. Definetely pay off the 3000gt, and sell it in july. An even better idea would be to save the $285 a month for 3 months after july, so you can actually make a downpayment, then sell the 3000gt. As for what car to get, I'm assuming that you would like something newer. Why not think about a 2002 WRX for about $15k?

I wouldn't do it. It is an affiliate of Capitol One, they are trying to make you make an impulsive decision. Just wait until you really need it, and then shop around for different financing options. Personally, I wouldn't go through a dealership either, as you can almost assuredly find a better option for financing.

Well I was just curious to see if anyone here or if anyone you guys knew had done something similar but I dont think I was actually gonna go through with it, just wondering. my plans where still to pay off the 3KGT and get something better in a few months. I might still drop by, who knows maybe they have a nice pre-owned VR-4 with my name on it!

Cobalt SS would be a nice car to get. Car and drive ran a 14.4 quater mile with it, they picked the SS over the SRT4.

I don't think that the SS has the modding potential of the SRT though.

no it doesnt, but it does have an LSD, a nicer interior and a nice ride. With a few bolt ons and im sure that mid 13's would be pretty easy to get.

The SRT has and LSD too and I like the seats on the SRT alot better then the ones in the SS. either way they are both great buys.

yeah but the SS runs on 87 octane where the SRT requires 93. And with gas as high as it is. . .hmmm. Also since its got a low compression, that means the SS with a pulley swap can add alot more PSI without worrying about compression or internals.

I'm sure that the SRT has low compression as well. It has FI, so they generally have lower compression. The moment you did the pulley swap with the SS, you'd need to buy premium. With the SRT, you can easily add a Manual boost controller, which is much cheaper than pulleys, and easier to install as well. My vote goes for the SRT4 as well. You know what, I'll set up a comparison between the two cars in the car comparisons forum.

There is already a thread about the two cars:

http://www.automotiveforums.com/vbulletin/showthread.php?t=377805&highlight=cobalt

uhhh anyways back on topic...I'd never let a credit company have me by the balls...just be careful.

uhhh anyways back on topic...I'd never let a credit company have me by the balls...just be careful.
You sir are correct. I guess this division is a financial service but yes they are associated with a notorious Credit Card company.

Srt-4 is 8.0-1 or how ever that goes. Its quite a low compression. and no the SS will not add more power with a pulley. the blower on the car is allready maxed out with 12.5 stock psi. The Srt-4 is going to be faster in every way. Also Jasyon if you look at your motor trend mag check out the 0-100 times. Srt-4 does it in 13.8 and the quarter at 100.8 in 14.4???? doesn't make sence. The Cobalt SS did 0-100 in 15.4 and the quarter at 14.4????? whoa that doesn't add up. The article is filled with discrepencies peroformance wise. The SS though is better when it comes to looks and handling.

I get offers from the local Ford Dealership... Pre-Approved for like.. $25,000-28,000. All I have to do is show up with the slip and I drive home that night.


Yeah, well... No thanks... maybe later.;)

I get offers from the local Ford Dealership... Pre-Approved for like.. $25,000-28,000. All I have to do is show up with the slip and I drive home that night.


Yeah, well... No thanks... maybe later.;)

But don't you want mountains of debt and a huge financing rate??? you know like 7.5% for 48 hours and then it jumps to a low low 45%?

I get offers from the local Ford Dealership... Pre-Approved for like.. $25,000-28,000. All I have to do is show up with the slip and I drive home that night.


Yeah, well... No thanks... maybe later.;)
yeah Red but thats FORD! yuck, I wouldnt buy it either! J/K Dampachi.....dont pour beer down my gas tank! :icon16:

No seriously I would hate to get into that much debt but I just cant stand having a 3000GT and getting shown up by some punk newbie with minor mods.......like a kid in a Cavalier for example.........with a factory installed SC............that runs 14s.........on a goddam automatic.......that kinda shit keeps me up at night, I swear!

:lol:

ouch flamage

Wait a few months save up down payment get a used EVO or a new one if you want.

damn fast out of the box but be careful buying it used cause the clutch might be worn out cause the previous owner couldn't drive it.

0 - 1/4 mile 13.3 seconds for the 2003 model

0 - 1/4 mile 13.3 seconds for the 2005 model the MR


I got this info at
http://www.supercars.net/lists/completeM.html