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Capitol One car loan amount difference...
I'm starting my hunt for a pristine condition e34 535i 5 spd and decided to finance it instead of cutting into my limited savings. I use bank of america but they are aweful deals when it comes to small loans, especially car loans.
So I tried Capitol One. Within 20 mins I was approved for a $10,000 car loan @ 8% (which is high, but so are rates now). Fixed rate. 48 month loan. In the end they will cut you a $10k blank check. They don't discriminate what type of car it is for.
Only issue is they will only write the check for $10k or more dollars, no less. So what happens if I find a car for $7500. There is no way the owner will cut me another check for $2500. That the oldest scam in the book.
Is there a easy way around this or another car loan bank that does not have this issue?
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