What sets it apartĬapital One is known for its credit card options, but the company also offers tools to help you find and finance your next vehicle. You can also make payments by mailing a cashier’s check, money order or personal check to Capital One or by sending a payment through Western Union or MoneyGram. If needed, you can also change your due date - but it isn’t clear how many times you can do this. From there, you can schedule a one-time payment or set up recurring payments. To make a repayment, you can log in to your Capital One account online or through its mobile app. How do repayments work?Īlthough the dealership you buy from will be the primary lien holder on your vehicle, Capital One will still service your loan. The dealership will present you with a final loan contract. If you’re prequalified, you can use your finances to shop at participating dealerships for up to 30 days. To get prequalified, you’ll need to submit some information about yourself and your finances, including your income and Social Security number. Available at a participating dealershipĬapital One allows you to apply as an individual or with a coapplicant.Existing Capital One accounts in good standing.Minimum monthly income of $1,500 or $1,800, depending on credit score.Capital One allows you to refinance vehicles that have resale value and are seven years old or newer.Ĭapital One has a few basic requirements for borrowers and the vehicles it finances. However, there are cases where Capital One will finance a 2008 model with less than 150,000 miles.
Your vehicle must be a 2010 model or newer with less than 120,000 miles.
Provided your chosen vehicle costs between $4,000 and $40,000, you can use a Capital One car loan to finance your purchase. What types of car loans does Capital One offer?
You can finance as little as $4,000 through Capital One, and loan terms last anywhere from 36 to 72 months. It isn’t clear what fees you could be charged or the maximum APR it offers.īut unlike many lenders, it’s upfront about the amount you can borrow. However the rate you get can be affected by factors such as your credit score, credit history, debt-to-income ratio - as well as the type of car you choose. How Capital One compares to other lendersĬompare Capital One rates, fees and termsĬapital One rates start at 3.99% APR for borrowers with excellent credit. They state the application is easy to fill out and the car finder available on the website has helped them pick out the right car with a low interest rate. Other borrowers have had more positive experiences, especially those who have filed for bankruptcy in the past or have faced bad financial situations. However, users on its Trustpilot and the BBB pages have noted that the customer service department is slow to respond to claims. Capital One reviews and complaints BBB accreditedġ.14 out of 5 stars, based on 493 customer reviewsġ.4 out of 5 stars, based on 410 customer reviewsīecause Capital One is mainly known for its credit card offers, there isn’t much online about its car loans.
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