Capital One auto finance pre-approval… only for the dealer listed or can I use it anywhere?

Insurance, financing, recalls, & watch Forum
1

I just got a pre-approval letter from Capital One, and it mentions Toyota, but I’m not sure how this works. Does this mean I can only use it at a Toyota dealership, or can I take it to other dealers too?

2

You can use CapitalOne’s website (Used & New Cars for Sale, Dealerships, Reviews, and More | Capital One Auto Navigator) to search for cars they finance. That way, you can see which vehicles are eligible. Good luck!

3

I looked into this last year. From what I found, the pre-approval should be good at any dealership that works with Capital One. You could always give them a call to double-check though.

4

It’s good for any dealer that partners with Capital One. I work at a dealership, and we love when people come in with Cap One pre-approvals. It would be pretty odd if it was limited to just one dealer. You can also check out eligible cars on their site at Used & New Cars for Sale, Dealerships, Reviews, and More | Capital One Auto Navigator.

5

Yep, it worked for me! I actually used it to get Toyota to give me a better rate—1.9%.

6

ace said:
Yep, it worked for me! I actually used it to get Toyota to give me a better rate—1.9%.

Wow, that’s an awesome rate! Do you have a really high credit score?

7

Flann said:

ace said:
Yep, it worked for me! I actually used it to get Toyota to give me a better rate—1.9%.

Wow, that’s an awesome rate! Do you have a really high credit score?

I think my score was around 715 at the time.

8

I was able to take my pre-approval to any dealership I wanted. Funny enough, when I finalized the deal, my rate actually dropped, so it worked out even better!

9

You can use their online pre-approval tool too. It’s not a hard inquiry and it lets you go to pretty much any dealer. I’m not sure if the letter you got is specific to that one dealer though… might be worth checking!

10

If you’re buying a Toyota, it’s a good choice in this economy. But yeah, the other comments are right—unless you use the website, it’s likely just for that one dealer.

11

I think it has to be a dealership that works with Capital One. Their website should show you which dealerships are participating.