Capital One Auto Loans Review

#6 in Auto Loans

Capital One is a financial corporation that offers diversified banking services that focus on consumer and commercial lending and deposit origination. One of its financial products includes auto loan services that allow qualified customers get low cost and long term auto loans. Capital One also offers auto refinancing to help car owners lower monthly payments.

Types of Auto Loans

  • New Auto Loans
  • Used Auto Loans
  • Auto Loan Refinancing

Capital One has existing partnerships with over 12,000 dealerships nationwide. This makes it easy for customers to choose from a wider variety of auto makers and models.

Auto loans available through:

  • Only accredited dealerships

*** Does not accept financing from non-eligible dealers, auto brokers or private party sellers

Application

Capital One auto loans provides an easy online application process that can be completed in minutes. Receiving an offer does not come with any obligation to push through with the loan but the prequalification offer expires after 45 days.

Qualification

  • 18 years or older
  • Valid street address within the United States or an APO/FPO address
  • Minimum income of $1,500 or $1,800 depending on credit history

Credit Score

Fair credit score or better

Steadily employed

Yes

Self-employed

Yes

New credit/ newly employed

Yes           

Loan Details

Minimum auto loan

$7,500

Maximum auto loan

$100,000

Used car model

10 model years and below

Used car mileage

120,000 miles and below

Down payment

Yes

Funds release

24 hours

Auto Loan Fees

Loan terms are available for up to 72 months. Rates for new and used cars differ regardless of loan term. APR for used vehicles starts at 2.89% and new vehicle APR starts at 1.99%.

APR

1.99% APR

Application fee

No

Prepayment penalty

No

Origination fee

Yes

Auto Loans at Capital One

Capital One is a great place to start your auto loan search. It is an excellent choice for used car loan shoppers with its $100,000 maximum loan and 10 year model year limit. Capital One maintains an extensive network of partner dealerships but does not offer auto loans to auto brokers and private party sellers, so be sure to keep that in mind when shopping for a new vehicle.

 

 

Latest Reviews

Start your review for Capital One Auto Loans
Isaac Ramirez
Belleville, New Jersey
Capital One Auto Loans review
9/20/2016
I loved Capital One. When I needed to refinance my car, they were able to help me out without a problem. I had some problems in the past with my credit but after I was able to work them out, I was able to get a new loan through them and they really helped me save money by offering a lower interest rate and not trying to take advantage of me like some other loan companies were.

CT Kerney
Belleville, New Jersey
Capital One Auto Loans review
9/9/2016
I had a really hard time getting a new loan for my car and I had some credit cards through Capital One. They not only offered me a car loan but offered me a lower rate than anyone else. I thank them for believing in me and getting me a new car!