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Capital One® Auto Finance

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Most Helpful Positive Review

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

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 Loan Holder

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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Reviews (350)

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Jun 28, 2016

It was so simple had an answer in seconds with no credit enquiry. I had lost my job maxed out cards and nothing in the bank and was approved. I didn't use the loan but was so happy to be approved. When I do get back to financially unstable which is my normal state lol. I'll be happy to bury myself in to much car like everyone else. Thanks capital one

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Jun 16, 2016
Went for My second loan with them today
Iamhapiness Loan Holder

Got a loan through them in Decemeber 2015. The application, approval and car buying process was effortless and I was approved for $40,000 at a 4.5 rate with a 740 fico score. Now six months later I am going for a second car loan with them and I am finding the process to be just as easy as the first time. I would highly reccomend.

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Jun 14, 2016
Fast, Painless, As described
Dadtimesthree Loan Holder

Pre-qualified through Navigator for $40k.  Loan value was precisely what the calculator said it would be to within a couple of dollars and the interest rate was dead on.  Brought my license only (along with down payment).  Left the dealership with my car in about two hours start to finish!  Would certainly recommend this to friends and family.

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Jun 10, 2016

I have a credit card with capital one for a couple of years.  $10,000 limit with on time payments and pay it off every month plus credit score of 675 to the low 700's.   So Hey I would think with such a good credit history with them I could get a preapproved auto loan with them right?  WRONG!  I was not even considered.  Just a  big old flat NO.  I am just completely floored that I been a great customer but they would not even approve me.  Thank god it didn't hurt my scredit score

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Jun 07, 2016
Anonymous Loan Holder

I have had a vehicle loan with Capital One for almost 3 years. They are a good company, but I am paying 18.25% interest.... They refuse to refinance the loan, saying they are not able to refinance their own loans!

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Jun 24, 2016

It's true. Their website says they don't. If you have a good payment history, try a local credit union. Their rates are usually great.

Jun 07, 2016
Highly recommended
rlbnll123 Loan Holder

ok, so lets back track 3 years. 3 years ago according to credit karma my score wasa 460! pathetic. anyways i paid off my debt with my tax return because i wanted to purchase a car. my credit obviously sucked so i was denied multiple times until i found a cosigner. my dad cosigned for me and i got my car with a 5% interest through chase. Fast fwd 3 years later and according to credit karma my score is now a 680. i have 5 cc's, 4 of which are through cap 1, cap 1 kept sending me letters to refinance through them to get a rate "as low as" 2.9% but as high as 18%

i applied and got approved for 2.9% =)

process took a couple of days. 

im really pleased with the process so far, the interest rate and the ability to choose payment date

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May 31, 2016
Anonymous Loan Holder

Total pathetic business. I financed through them and when I went to sell it, they took a week to ackowledge pay off, another week to get it out of their vault, then another week to send me the title. DO NOT FINANCE THROUGH THESE PEOPLE.

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May 09, 2016
zeekeo Loan Holder

Got pre-approved for 40k at 2.49% on a new car. Went to a dealer and drove out 3 hours later in 2016 accord sport at said rate. Only papaerwork provided was license and prrof of insurance to the dealer. No income verification or additional paperwork. 

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May 22, 2016

What was your ck score?

May 29, 2016

What was your credit score?

May 05, 2016
Too easy!
swagna Loan Holder

Just refinanced my car for 2.99%. Results were instant, they did all the legwork. All i did was sign the Title Paperwork and mail it back off in the envelope provided. I even got to pick my payment date which allowed me to skip a car payment! Thanks Capital One!

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Apr 28, 2016
Cap One is alright... BEWARE the dealer!
THov76 Loan Holder

I'll just start by saying, I've worked in finance for over 15 yrs. After a nasty divorce and a chapter 7 discharge over 5 yrs ago, I've been working diligently on rebuilding my credit. Long story short, I have several credit cards that have been opened for 3 years with on time payments and overall credit utilization at 11%. My median credit score is 667. I was approved by Cap 1 for up to $35,668 and APR 3.97%-10.25%. I found my vehicle, the one I wanted… 2013 Ford Explorer Limited, Kodiak brown, leather interior, moon roof, power 3rd row seats, 42K miles, for $30,175. After haggling with the dealer on this so-called Certified Pre Owned vehicle, I got them down to $28,750. I used Cap 1's calculator and saw that with the tax, tags, title, and fees that my payment would be $515 and 7.29%. When I got the loan docs to sign, I found that they added an extended warranty on top of what we discussed that cost an extra $2,389 putting my payment at $614 and APR at 8.59%. Not to mention, I specifically told them when I handed them my pre approval letter that I did not want them running my credit to any other finance companies which they did anyway. I hit the roof. After everything was said and done, they ended up knocking $1,389 off of the extended warranty and I paid $1,000 towards the remaining. (It was a good deal, 7yr 100,000 miles, covering EVERYTHING from the tires to electrical.) I also got their 30 day satisfaction warranty so if anything untoward happens with the vehicle I can bring it back and switch it out for another, their 1 year (no mile limitation) warranty covering most of the major mechanical, and free inspections and regular maintenance. Oh, and I got the payment and interest rate I expected. I said all of this to say; a lot of the things that most people here are complaining about, terms being changed from what was expected (high car note and interest rates) is not on Cap 1, but the dealership. You just have to wheel and deal. They take advantage of the fact that you don't deal with car purchases on a daily basis and try to get over on you. There is a reason that Cap 1 uses specific dealerships for their preapproval program; these dealers get some sort of incentive above the sale of the car for using their (Cap 1’s) financing. I only gave 4 stars because Cap 1 should make these dealers do a full disclosure of costs and Cap 1 should speak directly to the customer to lock in financing after receiving the credit app so everything is fully disclosed and not so much in the dealer's hands. 

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Company Overview

Capital One offers loans for new and used cars through select franchised dealers, as well as auto loan refinancing. Minimum loan amount is $7,500, and approval can take as little as sixty seconds. The website offers tools to help consumers manage their auto loan and keep them updated on their auto loan application status. Financing is not available for commercial vehicles, motorcycles, or recreational vehicles. Customer service is available online or by phone.

Capital One, founded in 1988, is a Fortune 500 company and is a diversified financial services company, offering an array of credit, savings, and loan products for consumer, small business, and commercial clients. Capital One serves customers in approximately 1,000 branches located primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia.