Consumer complaint received 2025-06-02 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Changes in terms mid-deal or after closing
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MN

Complaint narrative:
On XX/XX/XXXX I applied for an auto loan with capital one and was pre approved. I have a bank account and credit card with them also. I uploaded my last XXXX months bank statements and pay info because XXXX a XXXX. Next I called capital one and asked for a timeline on when theyll be done reviewing my income and was told two business days. On tuesday XX/XX/XXXX I logged onto my auto navigator and found a XXXX XXXX XXXX XXXX XXXXor around XXXX with the {$4000.00} Ev tax credit. At XXXX XXXX in XXXX XXXX, MN. I called the dealer and explained that I have a pre approval for {$40000.00}, And that capital one said that the actual amount financed depends on the car and to have the dealer submit then credit app to them. So I scheduled a time to come in and test drive and I submitted the credit app online then texted the sales rep when it was completed. I then emailed the sales rep my income information. Now this is where I got the run around from both companies. I got to the dealer at XXXX and was there till the closed at XXXX pm. The finance director told me that she needed my income to submit to capital one. I told her I sent it to the sales rep already. Then I forwarded her the email so she could complete my credit application.The original offer was for me to put {$1500.00} down which was approved on my auto navigator account. The finance director told me that capital one sent a counter offer and she would reply in the morning because they like making deals. I was told first thing In the morning. Now on XX/XX/XXXX I called the dealer and capital one multiple times to figure out what was going on. When I talked to capital one I had to threaten to file a complaint just for them to tell me that the terms they accepted was for me to put down {$1800.00} instead of {$1500.00} and that I was approved. So I called the dealer with the news expecting to move forward. The sales rep said that capital one didnt give them that information yet. Meanwhile the finance director had called me back yet. Then later on in the day when I spoke with the finance director I was told that there waiting to her back from capital one to verify my income and that she was off XX/XX/XXXX but shell get right to it on XXXX. XXXX first thing in the morning. So I called capital one back to see why is this taking multiple days and I submitted my income to both companies. Capital one stated that the dealer never sent them any thing In regards to my income. So on XX/XX/XXXX I text the sales rep that Im coming in to speak with them in person. I explained to them what capital one said and asked for the staff working in sales today to resubmit my income. That person said that the talked with capital one and they where still waiting to verify my income to approve funding and to wait till XX/XX/XXXX in the morning when the director of finance comes in. And they assured me that I was approved for the car. But they said by noon at the latest they deal should be done. So on XX/XX/XXXX at noon I Called and was told that capital one is still waiting to verify my income. So called capital one and was told that its the dealer fault because Im approved to be finance XXXX with a XXXX down payment for this vehicle and that they accepted the dealers terms but the dealer never submitted my income info. So I asked can I send it since I already uploaded it to my pre approval profile. Then capital one sent me a secure link and I uploaded my income.. I called capital one back and they said they received it and now theyre waiting on the contract paperwork so they can send funding and to speak with the dealer. So then I email them this info for proof. And call to speak with the director of finance. She then tells me that this isnt what capital one told her and that she didnt actually upload my income that she sent to their team who uploads it. So I told her that I uploaded to capital one through a secured link. Then I asked her to call them so we can finalize the deal. Then she basically told me that she did want to call them because since Im a XXXX driver they wanted To know what XXXX using the car for. I explained to her that i put my occupation on the application and was still approved and to please call so we can put an end to this back and forth about both companies blaming each other about my income actually being sent and received. She said just gave me the run around. So I told her its been 4 days and should be more then next in line as a customer. She says this is what happen when you guys come in her with capital one approvals and not want us to send apply with our credit lenders. Then she said she was going to have XXXX call and hell call me back. XXXX calls me back in XXXX mins and says that they arent going to sell me this vehicle. Then I asked why and he said because my income cant be verified. So I said I spoke with capital one and they said I was approved and I uploaded my income to a secure link. Then restated that capital one told him that the arent funding the Vechicle. So I called capital one back and then they started saying that they cant see any info about my approval reference # for this vehicle and to talk with the dealer. After they gave me the info and sent me a secure link. Then the dealer sold the vehicle to the type of person they want to do business with not with me you guys. And Im still setting here with a XXXX approval and being told to shop for cars. This is wrong, if they get to tell a adult in the land of the free, if they can by a car and what kind of car they can buy. And I have a approval.

Company response to consumer: Closed with explanation