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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
Min. Loan Amount | $4,000 |
---|---|
Max. Loan Amount | $40,000 |
APR | Starting at 3.24% |
Interest Rate Type | Variable |
Requirements | Valid street address, existing Capital One account in good standing, buying 2009 model or newer with less than 120,000 miles |
Review by
Kellye Guinan is a freelance editor and writer, specializing in consumer lending. Her writing and analysis has been featured on Bankrate, MSN and MediaFeed. She holds degrees in anthropology and German language and literature from Middle Tennessee State University.
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.
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.
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.
Capital One offers three loan options:
Capital One has a few basic requirements for borrowers and the vehicles it finances.
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.
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.
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.
Our answers to common questions about Capital One auto loans.
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.
A prequalification offer from Capital One lasts 30 days.
If you’re buying a used vehicle, the history report is taken from CarFax.
★★★★★ — 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.
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.
2 Comments
October 11, 2018
Can I get a auto loan if you are buying the car privately
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, we do have a list of car lenders who may be able to lend you money to buy the car you desire.
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