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Capital One
Capital One: 2023 Auto loan review, published 2023-01-01 at 00:00:00.
Written by Allison Martin Written by

Allison Martin's work began over 10 years ago as a digital content strategist. Since then, she's been published in several leading financial publications such as The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.







The edit was done by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate from late 2021. They are committed to helping readers gain confidence to take control of their finances through providing concise, well-researched and well-edited facts that break down otherwise complicated topics into bite-sized pieces.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content. We also allow you to conduct research and evaluate information for no cost and help you make sound financial decisions. Bankrate has agreements with issuers, including but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The deals that are displayed on this website are provided by companies that compensate us. This compensation can affect the way and when products are featured on this website, for example the order in which they appear in the listing categories, except where prohibited by law. This applies to our mortgage, home equity, and other home loan products. However, this compensation will not influence the content we publish or the reviews that appear on this website. We do not cover the entire universe of businesses or financial offers that may be accessible to you.




Reviewer's disclosures: All reviews are prepared by our staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed nor approved by any advertiser. The information such as rates and charges, presented in the review is accurate up to the date that the review was written. Review the information in the upper right hand corner of the page as well as the lender's site for the most up-to-date details.








At a glance 4.0 Rating: 4 stars out of 5
Bankrate Score

Available Rating: 4 stars out five
Affordability Rating: 3.2 stars out of five
The Customer Service Rating is 4.6 five stars of 5
Transparency Rating: 4 5 stars.


Find out about auto loan rates


Concerning Capital One's Loan amounts of $4,000 to $75,000
Min. credit score Not specified
APR from Not specified
Funds available in As soon as the next day.



Pros and cons of Capital One auto loans While there are some benefits with Capital One auto loans, there are also downsides to consider.
PROS Prequalification Available
Personalized financing options
Credit score not necessary

CONS Two applications are required
Limited to cars from approved dealerships
Not available in all states





Capital One offers auto loans to finance new and used vehicle purchases. The entire loan process is managed online via the Auto Navigator. You can check out the real rates and monthly payments on specific vehicles that are available to buy through participating dealers. Refinancing may also be available, but your vehicle -as well as your current loan must to meet a few requirements for you to be eligible.
Do you qualify? If you're purchasing a second-hand car, the amount you'd like to finance has to be at least $4,000 , and the vehicle cannot be older than 10 years or have more than 120,000 miles. If you want to refinance, the outstanding loan amount must be at minimum $7,500 and you have 12 months left. Your vehicle must be less than 10 years oldalthough there's no maximum mileage -- and the current loan servicer can't have to be Capital One. If you have a vehicle that is no longer manufactured or sold, it's not eligible for refinancing. Our favorite things and what we don't like here are some of the benefits and drawbacks associated with Capital One auto loans. What we like Get prequalified. You can utilize an Auto Navigator to be prequalified within minutes, with no need to pull to your credit. Flexible financing options for you. The app on mobile allows you to see the monthly payment and interest rate on specific vehicles. Credit score of 0 is not necessary. Capital One may approve you for an auto loan with low credit scores, but you can expect to pay higher interest rates. What we don't like Two applications are required. You must complete an application for credit when you get to the dealership, even if already have been approved with Capital One. The only exception is cars that are approved by Capital One dealerships. You can only finance vehicles from dealerships who work in conjunction with Capital One. It is not available to all states. Auto loans are not offered for residents from Alaska and Hawaii. How do I contact Capital One Support from Capital One is available by telephone or via chat online. Support representatives are accessible Monday through Friday between 9 a.m. until 9 p.m. ET, and Saturday between 10 a.m. until 7 p.m. ET.
Auto loan types offered Capital One offers financing for used and new vehicles in addition to automobile refinance loans.
Used and new auto loans
Quick facts about loans: $4,000 or more Terms: 24 to 84 months APR: not specified


Capital One offers financing for new and used car purchases in more than 12,000 participating dealerships. You can make a prequalification online and determine the conditions you're eligible for prior to you start shopping for the ideal car. Furthermore there is Auto Navigator Auto Navigator lets you adjust terms to build a car loan that is suitable for your budget.If you are planning to purchase an older vehicle, it must have under 120,000 miles and within 10 model years. There are some exceptions, but you will need to discuss your vehicle choice in person to Capital One. Refinance
Loan quick facts Amounts between $4,000 and $75,000 Terms 24-84 months APR: Not stated


Auto loan refinancing through Capital One is ideal if you are looking to reduce your monthly payments or your APR. Both options will allow you to save money, either per month or over time when you are working toward paying off your auto loan. Refinancing is also possible through Capital One to reduce the loan time and get rid of your auto loan quicker. How do you apply for a loan with Capital One You can start your application by getting prequalified, without a credit pull. If you're preapproved, you'll be able view your monthly installment and interest rate on specific cars you're considering. You also be able to alter the loan term or down payment to create the perfect deal for you. It is the next thing to do: go to the dealership and complete the credit application. Capital One will pull your credit report and score before they give you an official approval. The final step is to upload all requested documents and e-sign your contract to sign the contract.
Documentation required for the application Copy of your current driver's licence Evidence of residency Income proof


What Bankrate Rates Capital One
Overall score
4
Accessibility
4
Minimum loan amounts that Capital One offers Capital One are fairly middle of the road, but it offers a variety of options for repayment terms and is a wide-ranging state provider.
Affordability
3.2
Captial One's minimum and maximal APRs aren't available and the site doesn't mention discounts for autopay.
Customer experience
4.6
The rates for prequalification are good for 30 days and Capital One offers an online chat option once you sign up. The company also offers an app, and customer service is available six days a week.
Transparency
4
While it does provide prequalification, Captial One doesn't offer a full APR range prior to you handing over your information.


Methodology Bankrate considers 18 data points when evaluating auto loan lenders. Criteria for acceptance, whether fees and rates are accessible and the APR range all affect lender scores. The scores are divided in four different categories. The availability of loans and repayment options, dealership requirements and availability to state make up this section. Accessibility: This section includes APR ranges as well as acceptance criteria, fees and discounts. Customer experience: How long you have to shop for, the customer service hours as well as whether an app is available and autopay availability are accounted for within this category. Transparency: This category is responsible for the accessibility of rates and fees along with whether prequalification is available.
Editorial disclosure The reviews are written by Bankrate.com staff. The opinions expressed are only those of the reviewer , and have not been reviewed nor acknowledged by any advertiser. The information, including rates and fees that are included in the review is correct at the time of the review. Review the data at the top of this page, and the lender's website to find the most recent details.




Written by
Allison Martin


Allison Martin's work started over 10 years ago as a digital content strategist, and she's since been published in several leading financial publications such as The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.
Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since the end of 2021. They are passionate about helping readers to manage their finances with clear, well-researched information that breaks down otherwise complex subjects into digestible pieces.






Auto loans editor










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