Complaint / Review
Capital One Auto Finance
Place Customer in Jeopardy of Committing Crime

On January 21 I applied for a Capital One Auto Finance Loan through the blank check program. With a high credit score, I was pre approved for $47,000, however, I only wanted up to $17,000. They overnighted a blank check with the words "No Stipulations" written above the check. I went down to the dealer and picked out my vehicle. The dealer stated that since the check had no stipulations on the type of vehicle, it would go through. However, to be sure, I called the 1800 number printed above the check and reported that I was planning to use it for the year, make and model of the vehicle I had chosen. I received verbally what was written near the check - that the blank check is approved for any make and model without stipulation. The dealer and I completed the transaction following the directions on the check which included listing Capital One Auto Finance as a leinholder on the title.

Two days later, a caller to me from Capital One Auto Finance reported that they would not fund the check because of the year, make and model of the vehicle. I quickly ran to the bank and got the $ out of my savings account to cover the HOT Check that I had written to the dealer. The dealership was as stunned as I was that Capital One had placed my life in legal jeopardy.
When I received the title, Capital One Auto Finance was listed as a leinholder. It took me several hours of phone calls to finally be forwarded to the right department to have a release of lein sent my way. As of 4 days since the request, I have yet to receive the letter. Their incredibly deceitful and unethical business practices will still cost me additional time when the letter is received and I have to send it for a clean title.

I have reported to Capital One Auto Finance that their actions must be stopped to keep people who don't have cash in the bank from ending up in jail. They have told me that all they are doing is legal and in compliance with the laws. It should be illegal and I have made complaints to the BBB and the Texas Credit Commissioner, to no avail.

Capital One Auto Finance should not be allowed to continue their program!

Roy
Waller, Texas
U.S.A.