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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. She's published in numerous prestigious financial publications 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 writing and editing for Bankrate from late 2021. They are passionate about helping readers gain the confidence to control their finances with clear, well-researched data that breaks otherwise complex subjects into digestible pieces.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help 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 compare information for free and help you make informed financial decisions. Bankrate has agreements 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 website are provided by companies who pay us. This compensation may impact how and when products are featured on this website, for example, for example, the order in which they may be listed within the categories of listing and other categories, unless prohibited by law. Our mortgage, home equity, and other home loan products. But this compensation does have no impact on the information we publish, or the reviews you read on this site. We do not cover the entire universe of businesses or financial offerings that could be open to you.




Reviewer's disclosures The reviews are written by staff. The opinions expressed are solely those of the reviewer , and are not reviewed or accepted 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 as well as the lender's website to find the most current details.








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

Available Rating: 4 stars out of 5
Affordability Rating: 3.2 stars out of five
Customers Experience Score: 4.6 five stars of 5
Transparency Rating 4 stars out of 5


Find out about auto loan rates


The Capital One loan amount is $4,000 to $75,000
Min. credit score not specified
APR starting from not specified
Funds available as early as the next day.



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

CONS Two applications 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 process is handled online through the Auto Navigator. You can check out the real rates and monthly payment quotes on specific vehicles that are available to purchase through dealers who are participating. Refinancing is also available, but your vehicle -as well as your current loan must to meet certain conditions for you to be eligible.
Do you qualify? If you're purchasing a second-hand vehicle, the amount that you'd like to finance has to be at least $4,000 , and the vehicle must not be more than 10 years, or exceed 120,000 miles. To refinance, your outstanding loan total must have at least $7,500 and have 12 months remaining. Your vehicle must have less than 10 years of agehowever there's no maximum mileage -- and the current loan servicer cannot include Capital One. If you own a car which is no longer in production or sold, it's not eligible for refinancing. We like it and what don't like here are some advantages and disadvantages of Capital One car loans. What we like Get prequalified. You can use an Auto Navigator to get prequalified in minutes with no hard pull to your credit. Personalized financing options. The mobile app allows you to see the monthly payment and interest rate on specific vehicles. No credit score is required. Capital One may approve you for an auto loan with less credit score but you can expect to be charged higher interest rates. What we don't like Two application forms are needed. You must complete the credit application once you visit the dealership, even if already have been preapproved with Capital One. Limited to cars from approved dealerships. You can only finance vehicles through dealerships that are affiliated with Capital One. It is not available to all states. In addition, auto loans are not offered only to those who reside in Alaska as well as Hawaii. How do I contact Capital One Support from Capital One is available by chat or phone. Representatives are available from Monday to Friday between 9 a.m. to 9 p.m. ET and on Saturday from 10 a.m. to 7 p.m. ET.
Auto loan types available Capital One offers financing for used and new cars in addition to automobile refinance loans.
Used and new auto loans
Quick facts about loans of $4,000 or more. Terms are 24 to 84 months APR: Not stated


Capital One offers financing for new and used vehicle purchases in more than 12,000 participating dealerships. You can apply online to prequalify and determine the terms you're eligible to receive before you start shopping to find the perfect car. In addition you can use you can use the Auto Navigator lets you adjust the terms to create a car loan that works for your budget.If you are planning to purchase an used car the vehicle must be under 120,000 miles, and be within 10 model years. Some exceptions are allowed, but you must discuss your car selection 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're looking to lower your monthly payments or your APR. Both options will help you 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 the loan term and get rid of your auto loan more quickly. How to apply for an loan through Capital One You can start your application by being prequalified without a hard credit pull. If you're preapproved you'll be able to view the monthly installment and interest rate on specific cars you're considering. You will also have the luxury of changing the loan period or down payment to create an arrangement that is suitable for you. Next, go to the dealer and fill out a credit application. Capital One will pull your credit report and score before they give you an approval. The final procedure is to submit any requested documents and e-sign your contract to sign the deal.
The information required for application must be included. Copy of your driver's license Proof of residence Evidence of income


What Bankrate Rates Capital One
Overall score
4
Availability
4
The minimum loan amounts that Capital One offers Capital One are fairly middle of the road, however 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 listed as of yet, and it doesn't offer a discount for autopay.
Customer experience
4.6
Rates for Prequalification last for 30 calendar days, and Capital One offers an online chat function after you have signed up. There is also an app and customer service is available six days a week.
Transparency
4
Although it offers the option of prequalification Captial One doesn't offer a full APR range before you hand over your information.


Methodology Bankrate considers 18 data points when rating auto loan lenders. Acceptance criteria, whether fees and rates are offered and APR range all influence lender scores. These scores are split into 4 categories. Availability: Loan amounts as well as repayment options, dealer requirements, and availability in the state all make up this category. Accessibility: This section includes APR ranges as well as acceptance criteria, discounts and fees. Customer experience: How long you'll have to wait to buy and the availability of customer service as well as whether an app is available and autopay payment options are all accounted for within this category. Transparency: This category accounts for the availability of fees and rates and the availability of prequalification.
Disclosure of author: All reviews are prepared by Bankrate.com staff. The opinions expressed are only the opinions of the reviewer and have not been reviewed or approved by any advertiser. The information that is included, including rates and fees, presented in the review is correct as of the date when the review first appeared. Review the data in the upper right hand corner of the page as well as the lender's website for the most current details.




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 featured in a variety of top financial publications 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 writing and editing for Bankrate since the end of 2021. They are committed to helping readers gain the confidence to manage their finances by providing precise, well-researched and well-organized data that breaks complex topics into manageable bites.






Auto loans editor










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