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Capital One: 2023 Auto loan review

2023-01-01 00:00:00

At a glance

Rating: 4.1 stars out of 5

Bankrate Score

  • Availability
    Rating: 4 stars out of 5
  • Affordability
    Rating: 3.2 stars out of 5
  • Customer Experience
    Rating: 4.6 stars out of 5
  • Transparency
    Rating: 4 stars out of 5
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About Capital One

  • Moneybag

    Loan amount

    $4,000 to $75,000

  • Credit Good

    Min. credit score

    Not specified

  • Rates

    APR from

    Not specified

  • Funds available in

    As soon as the same day

Pros and cons of Capital One auto loans

While there are perks to Capital One auto loans, there are also downsides to keep in mind. 


  • Checkmark

    Prequalification Available

  • Checkmark

    Personalized financing options

  • Checkmark

    Perfect credit not required


  • Close X

    Two applications required

  • Close X

    Limited to cars from approved dealerships

  • Close X

    Not available in all states

Capital One offers auto loans for new and used car purchases. 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. 

Refinancing is also available, but your vehicle — and your current loan — will need to meet a few requirements in order to qualify.

Do you qualify?

If you’re buying a used car, the amount you want to finance must be at least $4,000 and the vehicle cannot be older than 10 years or have more than 120,000 miles.  

To refinance, your outstanding loan amount must be at least $7,500 and have 12 months remaining. Your car must also be less than 10 years old — though there is no maximum mileage — 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. 

What we like and what we don’t like

Here are some of the benefits and drawbacks of Capital One auto loans.

What we like

  • Get prequalified. You can use the Auto Navigator to get prequalified in minutes with no hard pull to your credit.  
  • Personalized financing options. The mobile app lets you view the monthly payment and interest rate on specific vehicles.  
  • Perfect credit not required. Capital One may approve you for an auto loan with a lower credit score, but you can expect to pay higher interest rates.  

What we don't like

  • Two applications are required. You must complete a credit application when you arrive at the dealership even if you have already been preapproved by Capital One.  
  • Limited to cars from approved dealerships. You are only permitted to finance vehicles from dealerships that work with Capital One. 
  • Not available in all states. Auto loans are not offered to residents of Alaska and Hawaii. 

How to contact Capital One

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. 

Auto loan types offered

Capital One offers financing for new and used cars as well as auto refinance loans.

New and used auto loans

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.If you plan on buying a used vehicle, it must have less than 120,000 miles and be within 10 model years. There are some exceptions, but you will need to discuss your vehicle choice directly with Capital One.


Auto loan refinancing from Capital One is ideal if you want to lower your 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.

How to apply for a loan with Capital One

You can start your application by getting prequalified without a hard credit pull. If you are preapproved, 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.

How Bankrate rates Capital One

Overall score 4.1
Availability 4.2 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 3.5 Capital One's minimum and maximum APRs aren't available, and it doesn't advertise a discount for autopay.
Customer experience 4.8 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.
Transparency 4 While it does offer prequalification, Capital One doesn't offer a full APR range before you hand over your information.


Bankrate considers 18 data points when rating auto loan lenders. Acceptance criteria, whether rates and fees are available and APR range all influence lender scores. These scores are broken up into four categories.

  • Availability: Loan amounts, repayment options, dealership requirements and state availability all contribute to this category.
  • Affordability: This section houses APR ranges, acceptance criteria, fees and discounts. 
  • Customer experience: How long you have to shop, customer service availability, whether there’s an app and autopay availability are accounted for in this section.
  • Transparency: This category accounts for the availability of fees and rates along with whether prequalification is available.
Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.
Written by
Allison Martin

Allison Martin’s work began over 10 years ago as a digital content strategist, and she’s since been published in several leading financial outlets, including The Wall Street Journal, MSN Money, MoneyTalksNews, Investopedia, Experian and

Edited by Auto loans editor