How does Capital One calculate LTV for Blank Checks?
For new vehicles, LTV is based on the vehicle’s invoice price. For certain vehicles that qualify for a manufacturer rebate, we will reduce the invoice price by the average rebate amount for that specific make/model. See the customer’s Blank Check package insert to see if vehicle will have a rebate reduction. For used vehicles, LTV is based on the Kelley Blue Book wholesale value or NADA trade-in value (depends on the customer’s state of residence and will be listed in the customer’s loan package).
