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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 prior to that as a digital content strategist. Since then, she's published in numerous prestigious financial outlets including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.







Edited 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 manage their finances by providing concise, well-researched and well-edited data that breaks complex subjects into digestible pieces.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make smarter financial decisions by providing you with interactive financial calculators and tools as well as publishing original and impartial content, by enabling you to conduct your own research and evaluate information for no cost - so that you can make financial decisions with confidence. Bankrate has partnerships with issuers, including but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this site are from companies that compensate us. This compensation could affect how and where products appear on the site, such as the sequence in which they appear in the listing categories, except where prohibited by law. This applies to our mortgage, home equity, and other home lending products. This compensation, however, does have no impact on the content we publish or the reviews that appear on this website. We do not include the universe of companies or financial offerings that could be available to you.




About our reviews . Editorial disclosure The reviews are written by our staff. The opinions expressed are solely those of the reviewer and are not reviewed or approved by any advertiser. The information, including rates and fees provided in the review are accurate up to the date that the review was written. Look over the information on the right as well as the lender's website to find the most recent details.








At a glance 4.0 Rating: 4 stars out five
Bankrate Score

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


Find out about auto loan rates


Concerning Capital One's Loan amounts $4,000 to $75,000
Min. credit score Unspecified
APR starting from not specified
Funds are available 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 keep in mind.
PROS Prequalification Available
Flexible financing options for personalization
No credit score is required for perfect credit.

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 handled online through the Auto Navigator. You can check out the real rates and monthly payment quotes on specific cars available for sale through dealers who are participating. Refinancing may also be available, but your vehicle -or your current loan must to meet a few requirements in order to qualify.
Do you qualify? If you're buying a used vehicle, the amount that you want to finance must be at minimum $4,000 and the vehicle cannot be older than 10 years or exceed 120,000 miles. To refinance, your current loan amount must be at least $7,500 and have 12 months remaining. Your car must also be less than 10 years old -however there's no limit on mileage and the current loan servicer must not include Capital One. If you own a vehicle which is no longer in production, it's ineligible for refinancing. What we like and what we don't like here are some of the benefits and drawbacks of Capital One automobile loans. What we like Get prequalified. You can use auto Navigator to get prequalified in a matter of minutes without a hard pull to your credit. Personalized financing options. The app on mobile allows you to view the monthly payments and rates of interest for specific vehicles. Perfect credit not required. Capital One may approve you for an auto loan with a lower credit score, however, you'll have to pay higher interest rates. What we don't like Two applications are required. You have to fill out a credit application when you get to the dealership even if you already have been approved through Capital One. Only available to vehicles from approved dealerships. You are only permitted to finance vehicles through dealerships that are affiliated together with Capital One. It is not available to all states. Auto loans are not available for residents from Alaska and Hawaii. How to contact Capital One Support from Capital One is available by chat or phone. Representatives are available Monday through Friday, from 9 a.m. to 9 p.m. ET on Saturdays between 10 a.m. to 7 p.m. ET.
Auto loan types offered Capital One offers financing for used and new cars as well as auto refinance loans.
New and used auto loans
Loan quick facts Amounts: $4,000 or more Terms: 24 to 84 months APR: Not stated


Capital One offers financing for new and used car purchases at over 12,000 participating dealerships. You can prequalify online and determine the terms you're eligible for before you begin shopping to find the perfect car. Additionally there is Auto Navigator Auto Navigator lets you adjust conditions to make a car loan that is suitable for your budget.If you're planning on purchasing an older vehicle that has under 120,000 miles and be within the 10 model years. Certain exceptions apply to this, however, you will need to discuss your choice of vehicle direct in conjunction with Capital One. Refinance
Loan quick facts Amounts between $4,000 and $75,000 Terms of the loan: 24 to 84 months APR: Not specified


Auto loan refinancing through Capital One is ideal if you want to lower the monthly payment or your APR. Both options will allow you to save money either monthly or over time, when you are working toward paying off your auto loan. You may also refinance with Capital One to shorten your loan duration and make payments on your auto loan more quickly. How do you apply for a loan with Capital One You can start the process by obtaining prequalified, without a credit check. If you're preapproved, you can view the monthly installment and interest rate on specific cars you're considering. You will also have the luxury of changing the loan term or down payment to create the perfect deal for you. The next step is to go to the dealership and complete the credit application. Capital One will pull your credit report and score before they issue a final approval. The last procedure is to submit any requested documents and electronically sign the contract to confirm the contract.
The information required for application must be included. Copy of your current driver's licence Evidence of residency Evidence of income


What Bankrate rate Capital One
Overall score
4
The availability
4
The minimum loan amounts offered by Capital One are fairly middle in comparison, however, it has a number of options for repayment terms and offers a wide range of state-specific options.
Affordability
3.2
Captial One's minimum and maximal APRs aren't listed and the site doesn't mention 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 prequalification, Captial One doesn't offer a full APR range before you hand over your information.


Methodology Bankrate considers 18 data points when evaluating auto loan lenders. Acceptance criteria, whether fees and rates are accessible and the range of APR all impact lender scores. These scores are split into 4 categories. Availability: Loan amounts and repayment options, dealership requirements and state availability all contribute to this section. Accessibility: This section includes APR ranges, acceptance criteria, fees and discounts. Customer experience: How long you'll need to shop, customer service availability, whether there's an app and autopay availability are accounted in this section. Transparency: This category is responsible for the accessibility of rates and fees and the availability of prequalification.
Disclosure of author The reviews are written by Bankrate.com staff. The opinions expressed in the review are only those of the reviewer , and have not been reviewed or acknowledged by any advertiser. The information that is included, including rates and fees provided in the review is correct as of the date of the review. Check the data in the upper right hand corner of the page, and the lender's website to find the most recent information.




Written by
Allison Martin


Allison Martin's work began over 10 years prior to that as a digital content strategist. Since then, she's been featured in a variety of top financial publications including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.
Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since late 2021. They are committed to helping readers feel confident to take control of their finances through providing clear, well-researched data that breaks otherwise complicated topics into bite-sized pieces.






Auto loans editor










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