Got pre-approved for 40k at 2.49% on a new car. Went to a dealer and drove out 3 hours later in 2016 accord sport at said rate. Only papaerwork provided was license and prrof of insurance to the dealer. No income verification or additional paperwork.
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On a whim 2 years ago I applied for a CO Blank Check for a new car purchase. CS at the time was around 540. I was immediately approved for $18,000 at 17%. (I started 6 months prior to this by getting a secured card from CO and then a Quicksilver card) Purchased a 2013 Nissan Altima with my blank check. I have never had an issue with purchasing the car, using the blank check, making any payments, dealing with customer serivce, or anything else. It has been a dream come true. I've made payments on time on all three accounts (car and 2 cards). It is not 2 years later, my CS is up to 635 and I have decided to trade my car in. I have been getting these emails from CO about applying for the "Auto Navigator Program" so today I decided to take the plunge and see what kind of interest rate I could get. I figured I would get about 20k @ 5-10%. Well....I was flat out denied. Ive been a loyal customer for 3 years, always paid on time, had several CL increases, credit score went up by100 points...but nope. I called them to see what the deal was and the lady on the phone told me that she couldnt tell me anything, that a computer decides who gets approved and for how much and I just had to wait until I got the letter in the mail in 7-10 business days. It doesnt make any sense to me. I really wanted to get a new car in the next few months and I really wanted to use another CO Blank Check. Guess I am stuck with this car for another 6 months or so....