At a glance

- Availability
- Affordability
- Customer Experience
- Transparency
About Capital One
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Loan amount
$4,000 to $50,000
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Min. credit score
Not specified
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APR from
Not specified
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Funds available in
As soon as the same day
Loan amount
$4,000 to $50,000
Min. credit score
Not specified
APR from
Not specified
Funds available in
As soon as the same day
While there are perks to Capital One auto loans, there are also downsides to keep in mind.
Prequalification
Personalized financing options
Two applications required
Not available in all states
Capital One offers auto loans for new and used car purchases at select dealerships. The lender also provides refinancing on current auto loans.
The entire loan process is handled online through the Auto Navigator. You can view real rates and monthly payment quotes on specific vehicles available for sale through participating dealers.
Here are some of the benefits and drawbacks of Capital One auto loans.
Capital One is best if you want to view your approval odds and loan rates before formally applying for an auto loan. You can compare the loan quote you receive to estimates from other lenders to determine if you’re getting a good deal.
It’s also a good fit if you want to shop for cars online before heading to the dealership. You’re given the option to search for vehicles in your local area by the year, make and model and view actual rates and monthly payments without affecting your credit. This feature alone can help you decide if you can afford a particular vehicle or if you should hold off on a new car purchase.
Capital One features auto loan purchase and refinancing options.
Capital One offers financing for new and used car purchases at over 12,000 participating dealerships. You can prequalify online and know what terms you’re eligible for before you start shopping for the perfect ride. Furthermore, the Auto Navigator lets you adjust terms to build a car loan that works for your budget.
Auto loan refinancing from Capital One is ideal for individuals who want to lower their monthly payments or APR. Both options will help you save money, either monthly or over time, as you work towards paying off your auto loan. You can also refinance through Capital One to shorten your loan term and pay off your auto loan faster.
Capital One does not specify interest rates on its website. However, it offers flexible loan terms to ensure your monthly payment works for you. Terms for both purchases and refinancing range from 24 to 84 months.
You can start your application by getting prequalified without a hard credit pull. If there’s a match, you can view the monthly payment and interest rate on specific cars you’re considering. You will also have the luxury of changing the loan term or down payment to create a deal that works for you.
The next step is to visit the dealership and complete a credit application. Capital One will pull your credit report and score to issue a final approval. The last step is to upload any requested documents and e-sign your contract to seal the deal.
You could also be asked by the lender or Capital One to provide these documents during the application process:
If you’re buying a used car, the amount you want to finance must be at least $4,000. Furthermore, the vehicle cannot be older than 10 years or have more than 120,000 miles.
To refinance, your outstanding loan amount must be between $7,500 and $50,000 and you must be current on it. Your car must also be no more than seven years old, and your current loan servicer cannot be Capital One. If you own a vehicle that’s no longer being manufactured, it’s ineligible for refinancing.
Support from Capital One is available by phone or online chat. Representatives are available Monday through Friday from 9 a.m. to 9 p.m. ET, and Saturday from 10 a.m. to 7 p.m. ET.
Overall score | 4.0 | |
Availability | 4.0 | The minimum loan amounts offered by Capital One are fairly middle of the road, but it has a number of options for repayment terms and has wide state availability. |
Affordability | 3.2 | Captial One's minimum and maximum APRs aren't available, and it doesn't advertise a discount for autopay. |
Customer experience | 4.6 |
Prequalification rates are valid for 30 days, and Capital One offers an online chat function once you sign up. It also has an app, and customer service is available six days a week.
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Transparency | 4.0 | While it does offer prequalification, Captial One doesn't offer a ful APR range before you hand over your information. |