Disappointed. May have to return vehicle.

[IBroke]

The cash price of car is $19,385. Add in the taxes, tags and "dealer extras" and everything comes out to $26,800.

WHAT?? What "dealer-extras" add $5,000 to the price (and I already considered sales-tax)? Tags aren't that expensive either..

I recommend you purchase a car for its value. Buying a $19K car for almost 27K is a VERY BAD idea.

[jb1231]

I see. Well, to give some background, LTV is 110%. The cash price of car is $19,385. Add in the taxes, tags and "dealer extras" and everything comes out to $26,800. Not sure that meets the guideline, LTV limit. I feel like a total idiot. Sorry to be a downer.

[daxtell]

i used the capital one blank check program. and loan to value is already calculated on the forms they mailed to you and also listed when you log onto the site under your account. it takes into account the total loan versus the value of the car (i.e., edmunds, kelly)... i ended up getting a great deal at a local dealership using this check program on a nice used car that was still 'certified'... within their guidelines for the perks (transmission and engine covered for life etc.). i did a lot of research all over town at all the dealerships before choosing a vehicle though. and when you walk into the dealership, that check is just like giving them cash so you can barter with them. i got them to come down on the price of my car about 1,500 dollars.

[jb1231]

I purchased a car three weeks ago only to find out today that Honda denied credit. I still have Capital One blank check but loan to value clause has me thinking that maybe this won't work. Thoughts? This sucks.