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Capital One
Capital One: 2023 auto loan review Published 2023-01-01 00:00:00
Written by Allison Martin Written by

Allison Martin's career began more than 10 years ago as a digital media strategist, and she's since been published in several leading financial media outlets 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 editing and writing for Bankrate since the end of 2021. They are committed to helping readers gain confidence to control their finances by providing clear, well-researched data that breaks complex topics into manageable bites.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial decisions by offering interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct your own research and evaluate information for no cost and help you make financial decisions with confidence. Bankrate has agreements with issuers such as, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn money The products that appear on this site are from companies that compensate us. This compensation can affect the way and when products are featured on this website, for example, for example, the sequence in which they be listed within the categories of listing and other categories, unless prohibited by law for our loan products, such as mortgages and home equity and other products for home loans. However, this compensation will affect the content we publish or the reviews you read on this site. We do not cover the vast array of companies or financial deals that may be accessible to you.




Reviewer's disclosures The reviews are written by staff. The opinions expressed in them are only the opinions of the reviewer and are not reviewed or approved by any advertiser. The information such as rates and charges that are included in the review is correct up to the date that the review was written. Review the information on the right as well as the lender's website for the most current information.








A glance 4.0 Rating 4 stars out five
Bankrate Score

Availability Rating 4 stars out of 5
Cost of Affordability: 3.2 stars out of 5
Customer Experience Rating: 4.6 5 stars from 5
Transparency Rating 4 stars out of 5


Compare rates for auto loan rates


About Capital One Loan amount of $4,000 to $75,000
Min. credit score Unspecified
APR not specific from
Funds available as early as the same day



Pros and pros and Capital One auto loans While there are benefits for Capital One auto loans, there are also downsides to keep in mind.
PROS Prequalification Available
Personalized financing options
Perfect credit not required

CONS Two applications required
Cars are only permitted from authorized dealerships
Not available in all states





Capital One offers auto loans for new and used car purchases. The entire loan process is managed online via the Auto Navigator. You can view real rates and monthly payments on specific cars available to purchase through participating dealers. Refinancing is also an option however your car- and your current loan -- will have to meet certain conditions in order to qualify.
Do you qualify? If you're purchasing a second-hand vehicle, the amount you'd like to finance should be at least $4,000 , and the vehicle cannot be older than 10 years old or have more than 120,000 miles. To refinance, your outstanding loan total must have at least $7,500 and have 12 months remaining. The car you're driving must be less than 10 years oldalthough there's no maximum mileage -- and the current loan servicer cannot include Capital One. If you own a car that's no longer being manufactured, it's ineligible for refinancing. Our favorite things and do not like of the advantages and drawbacks that come with Capital One automobile loans. We like the fact that you can get prequalified. You can utilize an Auto Navigator to get prequalified in a matter of minutes without a hard pull on your credit. Personalized financing options. The mobile app lets you view the monthly payment and interest rate on specific vehicles. No credit score is required. Capital One may approve you for an auto loan with a lower credit score, but you can expect to pay more interest. We do not like the fact that two application forms are needed. You need to complete an application for credit when you arrive at the dealership even if you already have been preapproved with Capital One. The only exception is cars that are approved by Capital One dealerships. You can only finance vehicles through dealerships who work in conjunction with Capital One. Not available in all states. In addition, 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. Representatives are accessible Monday through Friday, from 9 a.m. until 9 p.m. ET on Saturdays between 10 a.m. until 7 p.m. ET.
Auto loan types available Capital One offers financing for new and used cars in addition to auto refinance loans.
Used and new auto loans
Loan quick facts Amounts of $4,000 or more. Terms 24-84 months APR: not specified


Capital One offers financing for new and used car purchases at more than 12,000 participating dealers. You can prequalify online and determine the conditions you're eligible for prior to you start shopping to find the perfect car. In addition, the Auto Navigator lets you adjust terms to build an auto loan that is suitable for your budget.If you plan on buying an older vehicle the vehicle must be at least 120,000 miles and be within 10 model years. Certain exceptions apply, but you'll need to discuss your car selection directly with Capital One. Refinance
Quick facts about loans: $4,000 to $75,000 Terms: 24 to 84 months APR: Not stated


Auto loan refinancing through Capital One is ideal if you are looking to reduce the monthly payment or APR. Both options will allow you to save money either monthly or over time, when you are working towards paying off your auto loan. Refinancing is also possible through Capital One to reduce your loan term and pay off your auto loan faster. How do you apply for an loan with Capital One You can start the process by obtaining prequalified without having to do a hard credit check. If you're preapproved, you can view the monthly payment and interest rate on specific cars you're considering. You will also be able to alter the loan term or down payment to create a deal that works for you. Next, visit the dealer and fill out a credit application. Capital One will pull your credit report and score to give you a final approval. The final step is to upload any required documents and then e-sign the contract to confirm the deal.
Documentation required for the application Copy of your current driver's license Proof of residence Evidence of income


How Bankrate rate Capital One
Overall score
4
The availability
4
Minimum loan amounts that Capital One offers Capital One are fairly middle in comparison, however, it offers a variety of repayment options and offers a wide range of state-specific options.
Affordability
3.2
Captial One's minimum or maximum APRs aren't listed, and it doesn't advertise discounts for autopay.
Customer experience
4.6
Rates for Prequalification last for 30 calendar days, and Capital One offers an online chat function once you sign up. The company also offers an app and customer service is available six days a week.
Transparency
4
While it does offer the option of prequalification Captial One doesn't offer a full APR range before you submit your personal information.


Methodology Bankrate considers 18 data points when rating auto loan lenders. Acceptance criteria, whether rates and fees are available 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 in the state all are a part of this category. Affordability: This section contains APR ranges as well as acceptance criteria, discounts and fees. Customer experience: The length of time you have to shop and the availability of customer service and whether or not there's an app and autopay payment options are all accounted for by this segment. Transparency: This section accounts for the accessibility of rates and fees along with whether prequalification is available.
Disclaimer: All reviews are prepared by Bankrate.com staff. The opinions expressed are only those of the reviewer , and have not been reviewed nor approved by any advertising company. The information that is included, including rates and fees that are included in the review are accurate as of the date that the review was written. Check the data in the upper right hand corner of the page and the lender's website for the most recent information.




Written by
Allison Martin


Allison Martin's career began more than 10 years prior to that as a digital content strategist. Since then, she's been published in several leading financial media outlets such as The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.
Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate from late 2021. They are dedicated to helping their readers to manage their finances by providing clear, well-researched facts that break down otherwise complex topics into manageable bites.






Auto loans editor










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