Capital One® Auto Finance Reviews

3.8 out of 5 stars
57 Reviews

From Borrowers in the last year


Application Process

4 out of 5 stars

Customer Service

3.5 out of 5 stars

4 5

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Most Helpful Positive Review

Dec 16, 2013
Dealer running yr credit after the fact
Anonymous Borrower

First, let me state my credentials. I was an Account Supervisor for a major auto loan company before I retired.  It is absolutely NOT necessary for any dealer to run your credit after your lender has approved your loan. The dealer is simply trying to get you to switch to their preferred lender so they can get more money out of the deal. Don't let them try to pressure you into dropping YOUR lender by saying things like "you lender has a bad reputation," or "the dealership got burned by the lender and refuses to work with them," whatever their excuse may be. If the dealer refuses to work with you once you have secured your own loan, WALK AWAY FROM THE DEAL because your lender is giving the loan to you, not the dealer. Once you make a deal for the vehicle, then you will be responsible for the difference, usually your down payment amount. A lot of  dealers will shoot your application for a loan out to many lenders, who will check your credit. Too many inquires on your credit can adversely affect your credit score. (Suggestion: Never apply for an auto loan first if you are trying to buy a house. Secure your home mortgage before you apply for an auto loan.)

There are three separate items you are dealing with when you buy a vehicle from a dealer: the price of the vehicle, your financing, and the value of your current vehicle. We've already talked about your financing, so lets talk about the other two: First, the price of the new vehicle; NEVER go by the MSRP, just remember, it is the SUGGESTED retail price which could be a lot higher than the fair market value of the vehicle. Even if the dealer gives you unbelievable discounts or credits. Tell the dealer you want to see the 'Dealer's Invoice" for the vehicle you are interested in. That invoice is what the dealer paid the manufacturer for the vehicle plus shipping costs. The dealer might include 'options' or 'add ons' on the invoice. That's ok because it gives you a starting point to begin you negoiation with the dealer. Your goal should be to give the dealer a fair profit for the vehicle without being rediculously over charged. Now there are dealers like CARMAX that have a flat price for their vehicles with very little room, if any, for negotiating. They act like a retail store.

Dealers will offer to combine all three elements into the deal as a 'service to you.' But they will simply be trying to control the whole deal to get the maximum amount of money from you. These are three separate items, treat them as such.

Now, the third element, your trade-in. You can trade in your old vehicle in hopes of getting a lower price on the new vehicle. That's ok, if you wish to to do it tha way, but just remember, the dealer will offer you a price lower that you could get by selling it to an individual. You might try Kelly Blue Book at to get an idea of the different values of your old vehicle before you decide which way you want to go. Important note: if you own the vehicle outright and sell it to an individual, then any money you get is pure profit for you. If you still owe money on it, your leinholder gets paid first and then you get what is left over, so make sure you sell the vehicle for at least the balance of the loan if you go that route.


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Most Helpful Negative Review

Sep 24, 2013
Extra payment application
Anonymous Borrower

Read Finance charge and payments section carefully in contract. Any extra payment you make does NOT go toward the principal until you are three months ahead in payments. The extra is applied to next payment, does not go toward principal until you are more than three months ahead in payments and stay three months ahead in payments. While you can make extra payments toward the principle, it can only be done on-line.and must be done separate from regular payment. Thus charging you more interest in the long run.

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These reviews were written by current and former borrowers in the last year.

Jun 19, 2017
Awesome process
chrltt Borrower

I applied for  a car loan, got pre-qualified picked the cars I love from their website and printed out my pre-qualification letter. I went to the dealer, showed them my letter, test drove the car, filled out my credit application and went home with the car I love. In and out of the dealer in less than 2 hours, it's no brainer I will recommend this institution

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Jun 12, 2017
Never again
hbdaniels Borrower

Went though a divorce. Tried to call and explain that my ex gave me the car 30 days behind. I got my first ever late payment on my credit report. I expected them to work with me some how but was told they have no "good will" policy and that was that. I had to refinance because of the divorce, didn't know the car was behind, and the payoff check is literally in the mail. They gave no ****s.

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Jun 08, 2017
Excellent Buying Experience
missdaisy2u Borrower

I just filled out paperwork online, signed papers at the dealership and drove off in my car. Super simple!

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Jun 08, 2017
Excellent Buying Experience
missdaisy2u Borrower

Having my preapproval was an awesome bargaining tool. I went into the dealership and basically signed a few papers and drove off in my new car.

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Jun 06, 2017
Simple & Straight Forward
Anonymous Borrower

The numbers auto navigator gives you as far as what your APR and monthly payments should be is ABSOLUTELY what they should be. I have terrible credit (552) and had $100 in my bank account when the dealership ran my credit (which they apparently don't need to do anyways) and tried to tell me my APR and monthly payments were much more than capital one had projected. Make sure before signing any paperwork that the dealership is giving you the same rate as capital one. In my case it was the dealership trying to pull a fast one on me but luckily I had read other's reviews and knew to call capital one before signing. The dealership sent in paperwork for a Ford Taurus (which they convieniently didn't even sell) when I was purchasing a Chrysler 200. Customer service the three times I called was a 10/10!!

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Apr 20, 2017
Car buying made easy
Anonymous Borrower

Works just like it should .... shows all local vehicles and payments ... was simple and I already knew what payment would be before going to the dealer ... and peace of mind knowing I can get it financed and payments where I wanted it ... highly recommend

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May 05, 2017

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Apr 18, 2017

Love their website, easy to pay online and sents you reminders that your payment is due.

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Apr 07, 2017
Always there for Low Creditors !!
RamSe Borrower

Capital One was always there, even with my less than average Credit. They rejected me the first time I applied with lower 500s. Then I took 3 months to build it to 590 and voila, they got me pre-approved for upto 25K with the best APR in competition.

The Application process was by far the easiest. All electronic, no paper work, no calls or follow-ups. Applied through their website, Pre-approved the same day, Routed to their "Auto Navigator" site that has almost all Dealers you see in Autotrader/ listed, found my Car and Drove it home.

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Jun 02, 2017

I've got around the same score. What did your APR come out to?

Apr 05, 2017
Capital One is unwilling to help
Anonymous Borrower

Capital One does not help their clients at all. I asked to put one payment behind and was told no. This happened a few time. No reason  except "it's policy". I asked them "so you would rather see someone lose their car than to help at all". I received a BS reply as usual. I made payment arrangements after asking and asking and asking. Finally they agreed. They want me to pay almost $600 a month! for a used car! Customer service is so below par there isn't even a level for it. When I asked to speak to a supervisor, they put another customer service rep on the phone with me. He was rude, talked over me and down to me. Things like "let me help you understand". I was so aggravated with him I hung up on him. I have never been treated so poorly!  If you want a decent car loan company, go with Ally. They're  always nice and polite and accommodating. Capital one needs to fire all of their CS reps and hire people who have people skills. When I fell behind, I called to update them on my situation and the first words out of the reps mouth was "Is there a tow truck in front of your house":? I was threatened as well. If you have a choice Do Not get a loan with capital one. One final note: You cannot call Corporate Headquarters either because the phone does not give an option to speak to anyone. How's that for service?

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1 Reply
May 25, 2017

Maybe you shouldn't buy more car then you can afford #1 instead of complaining about when your bank simply wants the payment for the money they trusted you would pay back on a timely basis. I know for me I pay my mortgage first, car 2nd when I had a car payment due and then highest interest cards if any 3rd on down in that order. Sounds like you're upset just because you made a mistake and expected Capital One to fix it for you. Their customer service is excellent, so that is just you being mad and upset at your mistake. Reviews like your should not even be posted.

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