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Capital One auto loans review

Last updated:  

Midsize loans for current customers of this national bank.

finder.com’s rating: 3.6 / 5.0

★★★★★

Bottom line: Capital One offers financing for both new and used cars through its Auto Navigator program. You may be able to qualify for a low interest rate and a loan of up to $40,000. But it’s only available through its network of dealerships.

$4,000

Min. Loan Amount

$40,000

Max. Loan Amount

Starting at 3.24%

APR

Details

Product NameCapital One Auto Financing
Min. Loan Amount$4,000
Max. Loan Amount$40,000
APRStarting at 3.24%
Interest Rate TypeVariable
RequirementsValid street address, existing Capital One account in good standing, buying 2009 model or newer with less than 120,000 miles

Expert review

Kellye Guinan

Review by


Kellye Guinan is a writer and editor with Finder and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.

Expert review

Capital One offers standard auto loans for borrowers with current accounts. Provided you aren’t shopping for anything too expensive — and are willing to work with one of its dealerships — you may be able to find a good loan for your next car.

But Capital One doesn’t have the best history of customer service. It also doesn’t provide much information about its rates, which could make it hard to compare with other lenders.

Consider more auto loan options to see what you could afford before you shop at a dealerships.

Pros

  • Coapplicants accepted
  • Auto Navigator helps compare rates by car
  • Standard 30-day preapproval
  • Finance as little as $4,000

Cons

  • Not transparent about potential rates
  • Poor customer reviews
  • Must shop at participating dealerships
  • Must have existing Capital One account

Capital One reviews and complaints

BBB accredited Yes
BBB rating A
BBB customer reviews 1.14 out of 5 stars, based on 493 customer reviews
BBB customer complaints 7,116 customer complaints
Trustpilot Score 1.4 out of 5 stars, based on 410 customer reviews
Customer reviews verified as of 16 October 2020

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

Data indicated here is updated regularly
Name Product Filter Values Minimum credit score APR Loan term Requirements
Carvana
No minimum credit score
3.9% to 27.9%
Varies
18+ years old, annual income of $4,000+, no active bankruptcies
Get pre-qualified for used car financing and receive competitive, personalized rates.
car.Loan.com Car Loans
300
Varies by network lender
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
CarsDirect auto loans
Varies by network lender
Varies by network lender
Must provide proof of income, proof of residence, and proof of insurance.
Save time and effort with this lending service specializing in beginner-friendly or subprime car loan.
Auto Credit Express Car Loans
300
Varies
Varies
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.
Monevo Auto Loans
500
3.99% to 35.99%
3 months to 12 years
Credit score of 500+, legal US resident and ages 18+.
Quickly compare multiple online lenders with competitive rates depending on your credit.
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Compare up to 4 providers

Capital One rates, fees and terms

Capital One rates start at 3.99% 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.

Car loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate car loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.

Read the full methodology of how we rate car loan providers to get a better picture of what goes into each star rating.

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2 Comments

  1. Default Gravatar
    Jerry
    October 11, 2018

    Can I get a auto loan if you are buying the car privately

    • Avatarfinder Customer Care
      Anndy
      October 15, 2018

      Hi Jerry,

      Thanks for your question.

      Capital One does not offer financing for borrowers who are buying from private party sellers. However, you may be able to borrow from some of the lenders on this page.

      In our comparison table, please enter your credit score range and your state so you’ll be able to check the lenders that meet your criteria. Before you make a decision, kindly review the relevant product disclosure statement and eligibility criteria of the loan. Most of these lenders do not directly advertise their availability if you are buying from a private seller so it would be best if you contact them directly to confirm.

      I hope this helps Jerry.

      Cheers,
      Anndy

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