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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 work started over 10 years ago as a digital media strategist. Since then, she's published in numerous prestigious financial media 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 editing and writing for Bankrate since late 2021. They are committed to helping readers gain the confidence to manage their finances by providing precise, well-studied facts that break down complicated topics into bite-sized pieces.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make smarter financial decisions by offering interactive tools and financial calculators that provide objective and original content, by enabling users to conduct research and compare data for free 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 Make Money The deals that are displayed on this website are provided by companies that pay us. This compensation could affect how and when products are featured on the site, such as the sequence in which they appear within the listing categories in the event that they are not permitted by law for our loan products, such as mortgages and home equity, and other home lending products. This compensation, however, does affect the information we provide, or the reviews that you see on this site. We do not cover the vast array of companies or financial deals that may be available to you.




About our reviews . Editorial disclosure Reviewers are supervised by staff. The opinions expressed are solely those of the reviewer and have not been reviewed or accepted by any advertiser. The information, including rates and fees provided in the review is accurate at the time of the review. Check the data at the top of this page and the lender's site for the most current details.








A glance 4.0 Rating: 4 stars out of 5
Bankrate Score

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


Find out about rates for auto loan rates


Concerning Capital One's Loan amounts $4,000 to $75,000
Min. credit score not specified
APR not specific from
Funds available as early as possible.



Pros and cons of Capital One auto loans While there are benefits with Capital One auto loans, there are also downsides to consider.
PROS Prequalification Available
Flexible financing options for personalization
No credit score is required for perfect credit.

CONS Two applications are required
Only available to vehicles from approved dealerships
Not available in all states.





Capital One offers auto loans for new and used car purchases. The entire loan procedure is conducted via the internet using the Auto Navigator. You can check out the real rates and monthly payment quotes on specific vehicles available for sale through dealers who are participating. Refinancing is also an option however your car- and your current loan -- will need to meet certain requirements for you to be eligible.
Do you qualify? If you're purchasing a second-hand vehicle, the amount that you want to finance must be at minimum $4,000 and the vehicle cannot be older than 10 years old or exceed 120,000 miles. To refinance, your current loan amount must be at least $7,500 and be able to last for 12 months. Your vehicle must be less than 10 years oldhowever there's no limit on mileage and the current loan servicer cannot include Capital One. If you have a vehicle which is no longer in production and is not eligible for refinancing, it's not eligible. We like it and don't like Here are some of the advantages and drawbacks associated with Capital One auto loans. We like the fact that you can get prequalified. You can utilize an Auto Navigator to get prequalified in minutes with no hard pull to your credit. Flexible financing options for you. The app on mobile allows you to see the monthly payments and rates of interest for specific automobiles. 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. We do not like the fact that two applicants are necessary. You have to fill out a credit application when you visit the dealership, even if you already have been preapproved with Capital One. Limited to cars from approved dealerships. You are only permitted to finance vehicles from dealerships who work together with Capital One. Not available in all states. The auto loans are not available only to those who reside in Alaska as well as Hawaii. Contact information for Capital One Support from Capital One is accessible via phone or online chat. Representatives are accessible Monday through Friday, from 9 a.m. to 9 p.m. ET and on Saturday from 10 a.m. until 7 p.m. ET.
Auto loan types offered Capital One offers financing for used and new vehicles in addition to car refinance loans.
New and used auto loans
Quick facts about loans of $4,000 or more. Terms are 24 to 84 months APR: Not specified


Capital One offers financing for new and used car purchases at more than 12,000 participating dealers. You can apply online to prequalify and know what terms you're eligible for before you shop for the perfect ride. Furthermore you can use the Auto Navigator lets you adjust terms to build an auto loan that is suitable for your budget.If you're planning on purchasing an older vehicle that has at least 120,000 miles and be within 10 model years. Certain exceptions apply to this, however, you'll need to discuss your vehicle choice in person with Capital One. Refinance
Quick facts about loans: $4,000 to $75,000 Terms of the loan: 24 to 84 months APR: Not specified


Auto loan refinancing through Capital One is ideal if you're looking to lower your monthly payments or your APR. Both options will help you save money, either per month or over time when you are working towards paying off your auto loan. Refinancing is also possible through Capital One to shorten the loan term and pay off your auto loan quicker. How do you apply for a loan through Capital One You can start your application by getting prequalified without a hard credit check. If you are preapproved, you'll be able view your monthly payments and the interest rates on specific cars you're considering. You will also have the option of changing the loan period or down payment in order to come up with a deal that works for you. It is the next thing to do: visit the dealer and fill out the credit application. Capital One will pull your credit report and score before they give you a final approval. The last procedure is to submit the required documents and then e-sign your contract to sign the contract.
Required application information Copy of your current driver's license Residence proof Evidence of income


Which Bankrate Rates Capital One
Overall score
4
Accessibility
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 has wide state availability.
Affordability
3.2
Captial One's minimum and maximal APRs aren't available as of yet, and it doesn't offer an autopay discount.
Customer experience
4.6
The rates for prequalification are good for 30 days as well. Capital One offers an online chat function when you sign up. It also has an app, and customer support is available seven days a week.
Transparency
4
While it does provide the option of prequalification Captial One doesn't offer the full range of APRs before you hand over your details.


Methodology Bankrate considers 18 data points when evaluating auto loan lenders. Acceptance criteria, rates and fees are available and the APR range all affect lender scores. The scores are divided into 4 categories. Availability: Loan amounts and repayment options, dealership requirements and availability to state are a part of this category. Accessibility: This section includes APR ranges, acceptance criteria, discounts and fees. Customer experience: The length of time you'll have to wait to buy, customer service availability, whether there's an app and availability of autopay are all taken care in this section. Transparency: This category accounts for the accessibility of rates and fees along with whether prequalification is available.
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer , and are not reviewed or accepted by any advertising company. The information that is included, including rates and fees that are included in the review is accurate up to the date that the review was written. Look over the information on the right and the lender's website for the most up-to-date details.




Written by
Allison Martin


Allison Martin's work started over 10 years ago as a digital content strategist. She's published in numerous prestigious financial publications, including 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 from late 2021. They are committed to helping readers gain the confidence to manage their finances with concise, well-researched, and clear information that breaks down otherwise complicated topics into bite-sized pieces.






Auto loans editor










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