We applied for Capital One Auto Insurance online and got approved. We had them FEDEX the Blank Check with the disclosure information. We signed the check and purchased the car of our intent within their disclosed guidelines. We notified our insurance company and added the purchased vehicle to our existing policy at the $1000 deductible that we already had for our other cars and pursuant to the information listed on the disclosure which clearly stated the $1000 deductible requirement. We were also required to send Capital One proof of our insurance, which we also complied. They called and told us to change the deductible to $500. We refused and told them that the blank check disclosure, that we signed, stated $1000 deductible. We refused to oblige them because we felt we were within our rights as stated in the LOAN DISCLOSURE. Capital One then went behind our backs and changed our insurance policy to a $500 deductible.
We never gave anyone our permission to do this and we feel that this is bad business practice on both the part of our insurance company (Allstate) and Capital One Auto Finance and illegal on the part of Capital One Auto Finance. We will call and change our insurance deductible back to the $1000 deductible we requested in the first place. We are however unsure as what to do about Capital One Auto Finance. We do not want to lose our car but we know that what they did was illegal and in direct conflict with thier loan disclosure required by law.
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