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

Allison Martin's work started over 10 years prior to that as a digital content strategist. She's been featured in a variety of top 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 writing and editing for Bankrate since late 2021. They are passionate about helping readers gain confidence to manage their finances with concise, well-researched and well-edited information that breaks down complex subjects into digestible pieces.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial choices by offering interactive tools and financial calculators as well as publishing original and impartial 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 partnerships 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 pay us. This compensation could affect how and where products are displayed on this website, for example, for example, the order in which they be listed within the categories of listing in the event that they are not permitted by law. This applies to our loans, mortgages, and other home lending products. But this compensation does not influence the information we publish, or the reviews you read on this site. We do not include the entire universe of businesses or financial deals that may be accessible to you.




About our reviews Editorial disclosure: All reviews are prepared by staff. The opinions expressed are solely those of the reviewer , and have not been reviewed or approved by any advertiser. The information such as rates and charges, presented in the review is correct at the time of the review. Look over the information on the right, and the lender's site for the most up-to-date 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 5
The Customer Service Rating is 4.6 5 stars from 5
Transparency Rating: 4 stars out of 5


Check rates for auto loan rates


About Capital One Loan amount $4,000 to $75,000
Min. credit score not specified
APR not specific from
Funds are available as soon as possible.



Pros and cons of Capital One auto loans While there are some benefits to Capital One auto loans, there are some disadvantages to be aware of.
PROS Prequalification Available
Financing options that are customized
No credit score is required for perfect credit.

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





Capital One offers auto loans for used and new car purchases. The entire loan process is managed online through the Auto Navigator. You can see the current rates and monthly payment quotes on specific cars available for sale through dealers who are participating. Refinancing may also be available, but your vehicle -- and your current loan -- will need to meet certain conditions for you to be eligible.
Do you qualify? If you're buying a used car, the amount you'd like to finance should be at least $4,000 , and the vehicle cannot be older than 10 years or exceed 120,000 miles. If you want to refinance, the outstanding loan sum must amount to at least $7,500 and you have 12 months left. Your car must also not be older than 10 yearshowever there's no maximum mileage -- and your current loan servicer can't be Capital One. If you own a car that is no longer manufactured, it's ineligible for refinancing. We like it and do not like of the advantages and drawbacks associated with Capital One car loans. What we like Get prequalified. You can utilize an Auto Navigator to prequalify 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 rates of interest for specific automobiles. Perfect credit not required. Capital One may approve you for an auto loan with low credit scores, however, you'll have to be charged higher interest rates. We don't like that two applications are required. You have to fill out the credit application once you visit the dealership, even if you already have been approved through Capital One. The only exception is cars that are approved by Capital One dealerships. You are only permitted to finance vehicles through dealerships that are affiliated together with Capital One. It is not available to 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 accessible via telephone or via chat online. Support representatives are available from Monday to Friday from 9 a.m. to 9 p.m. ET on Saturdays from 10 a.m. until 7 p.m. ET.
Auto loan types available Capital One offers financing for used and new cars as well as car refinance loans.
Used and new auto loans
Loan quick facts Amounts greater than $4,000 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 terms you're eligible to receive before you begin shopping to find the perfect car. Additionally there is Auto Navigator Auto Navigator lets you adjust terms to build a car loan that fits your budget.If you are planning to purchase a used vehicle the vehicle must be less than 120,000 miles and within the 10 model years. Some exceptions are allowed, however you'll need to discuss your vehicle choice in person in conjunction with Capital One. Refinance
Loan quick facts Amounts from $4,000 to $75,000. Terms 24-84 months APR: not specified


Auto loan refinancing from Capital One is ideal if you are looking to reduce the monthly payment or your APR. Both options will allow you to save money, either monthly or over time, as you work toward paying off your auto loan. Refinancing is also possible through Capital One to cut down the loan time and get rid of your auto loan quicker. How do you apply for an loan through Capital One You can start the process by obtaining prequalified without a hard credit pull. If you're preapproved you'll be able view your monthly installment and interest rate on specific cars you're considering. Additionally, you have the option of changing the loan duration or down payment to create the perfect deal for you. It is the next thing to do: go to the dealership and complete a credit application. Capital One will pull your credit report and score to issue an official approval. The final step is to upload the requested documents and e-sign your contract to seal the deal.
Documentation required for the application Copy of your current driver's licence Residence proof Income proof


Which Bankrate rate Capital One
Overall score
4
Availability
4
The minimum loan amounts offered by Capital One are fairly middle in comparison, however, it has a number of repayment options and offers a wide range of state-specific options.
Affordability
3.2
Captial One's minimum and maximum APRs aren't available and the site doesn't mention an autopay discount.
Customer experience
4.6
Prequalification rates are valid for 30 days, as well. Capital One offers an online chat option when you sign up. It also has an app and customer service 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 submit your information.


Methodology Bankrate considers 18 data points when evaluating auto loan lenders. Acceptance criteria, whether fees and rates are offered and APR range all influence lender scores. The scores are divided into four categories. Availability: Loan amounts and repayment options, dealership requirements and availability to state make up this section. Affordability: This section houses APR ranges as well as acceptance criteria, fees and discounts. Customer experience: How long 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 within this category. Transparency: This category is responsible for the availability of fees and rates as well as whether prequalification is available.
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed nor accepted by any advertiser. The information such as rates and charges that are included in the review is accurate at the time that the review was written. Review the data in the upper right hand corner of the page as well as the lender's website to find the most recent information.




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, including 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 since the end of 2021. They are committed to helping readers to manage their finances with clear, well-researched data that breaks otherwise complex topics into manageable bites.






Auto loans editor










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