Capital One Consumer Loan Complaint

Capital One Consumer loan department,

Vehicle loan Taking out the loan or lease New Jersey

1. I applied for a loan thru capital one auto finance in order to purchase a new van on or approx - - 20152. I got approved by capital one auto finance with no further documentation or verification needed. ( see approved and no doc needed email attached ) 3. I went to the dealer freehold ford to complete the process and obtain the VIN '' number of the vehicle i was interested in and finalize the sale. 4. As required by capital ones process and navigator '' system i entered the


- capital one approval '' email. 5.The dealer - - was listed on capital ones website as a preferred dealer '', however - ford did verify my capital one approval etc however they was n't listed on capital one 's end of the system as a dealer since it was a revised financing program and were dropped as a approved dealer so the dealer had to resign up and get trained in the new processing procedure. 6. I the Interim the dealer received the vehicle ready for delivery and i received a additional approval from a dealership financing source and signed a financing agreement at at much higher rate and payment in the interim until the dealer was fully setup in the system to finalize my deal from the dealer end .It was understood that i was to be financed via capital one ( see i owe you '' doc attached ) however in order to take delivery they had another bank as well to fall on. 7.The dealer finally got reactivated into capital ones system however they withdrew the approval verbally last minute citing that the vehicle was commercial and also they dont finance vehicles over - passengers '' to note, the vehicle was approved '' by their navigator '' system by giving me the rate and terms it did not state on the system that the vehicle was n't approved etc! otherwise i would not complete the sale or take delivery. so here im left with a vehicle at a very high rate and payment as outwardly the dealer stated that a lot of banks wo n't finance it as it can be considered commercial use however santander approved financing ( santander was only supposed to be to take delivery, until the dealer was set up with capital one ). 8. On or approx -/-/2015 capital one sent a letter citing denial due to application submitted was incomplete or can not be verified which was untrue, as on the approval email it was clear that no further documentation or verification was needed and i received verification from the navigator software that the vehicle was approved and they provided the terms and payment amounts due. In addition the application does not expire until -/-/15 so the excuse for final denial is void and inexcusable