Complaint / Review
Capital One Auto Finance
Preapproved check bounced, all of a sudden I'm not approved ripoff Bay Area, California

I hope I read all these reports before I applied or Capital One Auto Loan..

Here's the Story..

3 weeks ago I traded in my rare car for a newer car. Long story short
I had a preapproved loan with the amount on the blank check provided.

After 1 1/2 weeks Porsche dealer called me that the check from Capital One had bounced. I have the preapproval document and check. I called capital one and told me that they need my income docs, so I said ok, i faxed it to them, then a week later all of a sudden they cant do a loan for me, and refuses to say why. I have a good credit score and high income.

So now, the car that I traded is sold, I'm stuck with a car that the trade in value is $10,000 less than what I owe plus taxes, the good thing is the dealer
is on my side, and wanted to call Capital One and they said they will have them buy the car for giving me a bogus approval or else, Porsche vs. Capital One.

I hope they get what they deserve, after reading all the comments here, I called my attorney as well, we are giving them until Friday to make it right, after that. All hell breaks loose. Suckers!