Capital One auto loans review

Capital One reviews and complaints

Because Capital One is mainly known for its credit card offers, there isn’t much online about its car loans. However, users on its Trustpilot and the BBB pages have noted that the customer service department is slow to respond to claims.

Other borrowers have had more positive experiences, especially those who have filed for bankruptcy in the past or have faced bad financial situations. They state the application is easy to fill out and the car finder available on the website has helped them pick out the right car with a low interest rate.

How Capital One compares to other lenders

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Name	Product	Filter Values	Minimum credit score	APR	Loan term	Requirements
PenFed Auto Loans			Varies	Starting at 5.19%	3 to 7 years	Active membership with PenFed	One of the largest national credit unions in the U.S., it offers new and used auto financing with transparent low rates.	Go to site More Info	Compare	loading Fetching your data...
CarGurus			Varies	Varies depending on the lender	3 to 6 years	Varies depending on the lender	Go to site	Compare	loading Fetching your data...
Carvana			No minimum credit score	3.9% to 27.9%	1 to 6 years	18+ years old, annual income of $4,000+, no active bankruptcies	Get pre-qualified for used car financing and receive competitive, personalized rates.	Go to site More Info	Compare	loading Fetching your data...

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Capital One rates, fees and terms

Capital One rates start at 3.24% APR for borrowers with excellent credit. However the rate you get can be affected by factors such as your credit score, credit history, debt-to-income ratio — as well as the type of car you choose. It isn’t clear what fees you could be charged or the maximum APR it offers.

But unlike many lenders, it’s upfront about the amount you can borrow. You can finance as little as $4,000 through Capital One, and loan terms last anywhere from 36 to 72 months.

What types of car loans does Capital One offer?

Capital One offers three loan options:

• New car loan. Provided your chosen vehicle costs between $4,000 and $40,000, you can use a Capital One car loan to finance your purchase.
• Used car loan. Your vehicle must be a 2010 model or newer with less than 120,000 miles. However, there are cases where Capital One will finance a 2008 model with less than 150,000 miles.
• Auto refinancing. Capital One allows you to refinance vehicles that have resale value and are seven years old or newer.

Capital One requirements

Capital One has a few basic requirements for borrowers and the vehicles it finances.

Personal requirements

• Must finance at least $4,000
• Minimum monthly income of $1,500 or $1,800, depending on credit score
• Existing Capital One accounts in good standing
• At least 18 years old

Vehicle requirements

• Vehicle intended for personal use
• 2010 model year
• Fewer than 120,000 miles
• Available at a participating dealership

How the application works

Capital One allows you to apply as an individual or with a coapplicant. To get prequalified, you’ll need to submit some information about yourself and your finances, including your income and Social Security number.

If you’re prequalified, you can use your finances to shop at participating dealerships for up to 30 days. The dealership will present you with a final loan contract.

How do repayments work?

Although the dealership you buy from will be the primary lien holder on your vehicle, Capital One will still service your loan. To make a repayment, you can log in to your Capital One account online or through its mobile app. From there, you can schedule a one-time payment or set up recurring payments. If needed, you can also change your due date — but it isn’t clear how many times you can do this.

You can also make payments by mailing a cashier’s check, money order or personal check to Capital One or by sending a payment through Western Union or MoneyGram.

What sets it apart

Capital One is known for its credit card options, but the company also offers tools to help you find and finance your next vehicle. Not only can you filter your search by dealer and car, but loan terms could include the price of the car as well as the tax, title and other relevant fees, lowering your total out-of-pocket cost.

Not all dealerships work with Capital One — and if you don’t already have an account, you won’t be able to apply. You can compare more car loan options to see what other rates you might qualify for.

Frequently asked questions

Our answers to common questions about Capital One auto loans.

How do I know which dealerships accept Capital One financing?

You can use the Search cars tool on Capital One’s website. There you’ll be able to enter your zip code or address to find a dealer that accept Capital One auto financing.

How long does prequalification last?

A prequalification offer from Capital One lasts 30 days.

How is car history reported?

If you’re buying a used vehicle, the history report is taken from CarFax.

Capital One Auto Financing is not currently available on Finder

Have you considered PenFed Auto Loans?

One of the largest national credit unions in the U.S., it offers new and used auto financing with transparent low rates.

• Low starting rates
• Car-buying service
• Reduced payments
• Extended warranty available
• Potential hardship relief

Learn more

No thanks, compare other auto loan options.