Charlotte, North Carolina
Not resolved

Financed my car 12/06 for 72 months. Confirmed with

capital one in 6/2012 car to be paid off and in 1/2013 same response from 2 different reps.

Had to verify because of trying to get qualified for mortgage. Last 2 years automated payment with exception of 7/12 to pay off due major car repairs so I split payments but within 29 days I paid each month and all late fees. Now say I owe $1600 but won't say specifically how. 1st couple of years would get behind catchup and did take out 2 deferrments (extended loan 4 months) til April.

They are tryn to collect after fact of loan and only sent statements to show balance but not where I would of miss 4 car notes (notes 416) . However statement shows part of payment credit to a miscellaneous column or part applied to late fees however I paid those and always paid an extra $10. Don't know how to fight this. Car is only worth $2300 Kelly Blue Book.

Capital one turned out to be rip off. Can someone advise.

Product or Service Mentioned: Capital One Loan.

Monetary Loss: $1600.

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If you paid late, asked for extension on your loan, and I'm sure you're all jumping up and down after you're granted for the extension, and now you're whining because you found out you still owed more and your car is only worth much less than what you thought it should be? And that would make Capital One a rip-off??


If you paid late and extended 4 months of payments then you accrue additional interest everyday past due that a payment isn't made as well as accruing additional interest for the 4 months extended. Which could very well be why your payoff amount is what it is.


They did me just like they did you dietrich22, when I began reading your review, I thought someone had wrote it for me. Ignore that ignorant reply from mewdodoo because they probably works for those ***.

I have reported them to the Attorney General and contacted a lawyer. I feel as though, when discussing payments to get the entir balance paid off by date, all of those *** fees should have been included and mentioned by the reps. I had a manager do my calculations and the itch screwed me dearly.

So mewdodoo, shut the f?!$ up and don't attempt to join in on the lawsuit, cause cap one are predatory leaning as swipes and they are going down. :( :x


So did the AG and the lawyer that you contacted laugh at you? Because I would.


You said you made some payments late. Capital One's auto loan has a simple interest, which is interest accrues on a per diem basis.

When you got late, all the interests accrued on the couple of days that you were not able to pay made you have a bunch of interests to pay when you actually did a payment. Depending on how bad or good your APR was, your per diem could be very high. Someone with a Per Diem of $10 can easily accrue $100 bucks by being late 10 days. What you're paying now is not interest, it's pure principal.

Capital One did not scam you.

Do your payments on time next time. And read what you're signing.


This is the same exact thing that happened to me, only I brought my car in July 2007 and was told I had a payoff date of July 2013. The only thing I think in my defense is the fact that I have the Supervisor Ron Farris on tape recording stating this. They are now trying to assess all of these supposed late charges.