Capital One Consumer Loan Complaint

Capital One Consumer loan department,

Vehicle loan Taking out the loan or lease Washington

In - of - Cap one Finance sent me a auto loan Pre-approval '' letter which stated they had interest rates as low as 2.3 %. I had called Capital One Auto Loan callcenter - during that time asking them what interest rate I was approved. Each time I called they instructed me to take the Capital One pre-approver letter to the dealer of my choice. I took it to - - owned by - - in - - State. I was told the only interest rate quoted by Capital One Auto Finance was 16.990 %, I was also told by - - that Capital One Auto Finance would refinance this loan to a lower interest rate after I showed - year of ontime payments with no late payments. Capital One told me in - of - they do not refinance their own loans. I have paid this huge interest rate for 15 months now with no late payments and I have


- -. Also, I tried to re-finance with several companies such as - - - -, - - - -, - - AUTO LOAN and all of these companies tell me that I am in a predatory loan and the payments I have made all went to interest profit for Capital one and the owed to value of the car exceeds their criteria to refinance. So after 15 months of on-time payments I owe more than the - FORD FOCUS is worth because I paid $4900.00 in interest and only $2900.00 to payoff. In the event I am laid off this year I will default on this loan with this high payment of $580.00 a month. I need Capital One Auto finance to drop my interest rate to a non-predatory rate to be no more than 8 %. Please review documents that prove I have paid on time and have no late payments on my credit report for the last 15 months.