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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 (297)

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Nov 10, 2015
The people were courteous, but . . .

The fine print reads that the vehicle needs to be on a list of their approved dealers, none of which have anything remotely resembling what im looking for. 

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Nov 10, 2015
Anonymous Loan Holder

If you pay a special principle payment you have to send payment in and call to notify them. I was paying special principle every month and capital one was charging me interest on that portion. I called and had to explain several times to them before they would understand. Now if I make a special principle payment I have to mail in the payment plus call them so they distribute it correctly. Really? With my other car loan no pbm any extra money that came in for the month was put towards prinicple balance, not capital one.

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Nov 10, 2015
great rate
Tpk979 Loan Holder

I have been rebuilding my credit for about 3 years now. Started at 540 and yesterday at the dealer I was 677 (credit karma says 669). Capitol one was my first card during my rebuilding process (secured card $500) I now have 2 others as well with them so when it came time for a New car I applied with them. I noticed a lot of bad reviews for every company out there but a loan or a credit card is good to you if you are good to them!

i pay my cards each month and very rarely leave a balance. To my surprise I was pre approved for a auto loan up to 36k with a 1.9-5.29 APR. with my score I though I would surly get the higher rate unless I put a ton down. All said and done I financed over $17k with $2500 down and the best part 1.9 interest rate! Thanks CapOne for the opportunities! Very simple process I did everything from my I Phone. 

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Nov 10, 2015
Hassle free, easy financing.
amberrose1988 Loan Holder

I applied for the loan because my car broke down and I needed a new one. My CS is 666, so I figured I would have to pay a high down payment. I was approved up to 22k with no down with up to 14% interest (understandable as my credit isn't very good).  I went to a Hertz dealership, test drove the car I wanted. It took less than 15 minutes to fill out all the paperwork and I left keys in hand, without putting a penny down. The process was so easy, and this is my first time with an auto loan, and I was only charged 10% interest.

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Nov 07, 2015
Easy Process!
axLovexa Loan Holder

Last year October I needed an auto loan. The reviews for CapitalOne weren't that great... Even my boyfriend at the time warned me not to get a loan with them and said they were horrible. But guess what??? I kept on researching/ reading reviews and I used my own judgement! I had a credit card with CapitalOne for a few years and I never had any issues, so why would I have issues with their auto loan? 

I can honestly say I'm glad I applied! The online process was quick and easy. I entered all my information and I didn't even have to send in any documents or paystubs. They approved me right away and I received their documents in the mail the next week! They gave me a contract that thoroughly explained their terms and a blank check. They provided a link online to check which dealerships accepted their loans ( which were a good majority of them). They also provided me a document which showed my TransUnion credit score at time of application (which was a 631). So CapitalOne gave different interest rates depending on the year of the car I chose: 

5.86% if 2014 or newer
6.79% if 2013,

7.36% if 2011-2012 

8.31% if 2007-2010

I went to a Volkswagen dealership. I picked a certified used 2012 car and gave their finance department my CapitalOne check with some document they needed to fil out and mail back to CapitalOne. I received a letter from CapitalOne a week later with all my information and I didn't have to start making payments till mid December. 

A whole year later, I can honestly say I've never had ANY issues with them. In fact, I never had to speak with an agent, that's how EASY this process was. I selected DirectPay so I wouldn't forget a payment and I regualary check my account. Everything's always up-to-date and accurate.

SideNote--> This past year, I managed to pay off my credit cards and my credit score jumped over 750! So I'm looking around for better rates. Hope this review helps someone!

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Nov 06, 2015
Anonymous Loan Holder

Any extra pay does not go toward the principal, only towards the next payment.  You can never get ahead on your payments as they will find a way to collect more interest from you.  One of my  experiences with Capital One was them holding my payment until it was time for me to make my next payment two weeks later which lead to me receiving interest accured daily.  Most recently, I was told that when I made a payment for two seperate auto loans in one payment envelope, they processed one payment and shredded the second.  In other words they do not pull all the contents from the envelope.  Whaever is left it gets shredded.  Capital One gives Credit Karma one interest rate if you apply for a loan however when you get the loan you find that it is acutally higher.

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Nov 06, 2015

Please educate your self before you go on a rant. Take out your contract and look over the finance charge. All your interest is pre calculated for your total cost of the vehicle if you pay every month (On time) till the end of your contract. If you pay extra every month and pay off your vehicle say one year earlier. You just saved 1 year of interest (depending on your APR, and using a interest calculator or just ask the customer service what your savings would be; you wont be able to calculate do to the fact most lenders use a term called "Backward ladder interest") So you make 300 payment 50 bucks goes towards P, the rest I, which will eventually balance itself out later on the contract. Lender will never collect over the interest amount stated on the contract unless you breach the contract by paying late. YOU SAVE MONEY IF YOU PAYOFF YOUR CAR EARLY.

Nov 04, 2015
Don't trust credit karma's estimates
amymarie99 Loan Holder

Early 2014 I bought a car at a very high interest rate (16.9%) with bad credit at another finance company. When they pulled my credit it was a little over 500. Since then, it has improved substantially, still has a way to go but Credit Karma shows 622 and when I check my credit on Capital One's own website (I also have a credit card with them), it's in the high 600s.

Credit Karma suggested I refinance my car and I obviously knew I should. They suggested a few companies but Capital One stood out because I have a credit card with them already and have been pleased with it. The estimated interest rate provided my Credit Karma was 7.19%. I know it's an estimate but I was expecting an interest rate under 10%, especially considering the large increase in my credit score since I received the rate of 16.9.

Well I just applied and was approved, for 14.9%. More than double what Credit Karma estimated.

I took it because it's better than 16.9, but Credit Karma was wayyyy off. I also think it's pretty high rate for Capital One to offer me considering that their website gives me a score of almost 700. 

My payments lowered a little, some is better than none, but if you're considering applying with them based on the estimation from Credit Karma, don't expect ANY sort of accuracy whatsoever.

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Nov 17, 2015

You should have called up and spoke with a rep. The computer cannot always estimate correctly.

Nov 19, 2015

I did. They refused to tell me how they came to their decision or which score model they use. They refused to do anything but repeat, "The rate you were offered is the best we can do at this time." And do not make any adjustments or offer any explanations.
I know Credit Karma's estimates can be off. But I wasn't expecting the exact rate Credit Karma estimated, I was expecting around or under 10%. Given the drastic improvement in my credit score since I received 16.9%, 14.9% right now is unreasonable and absurd, no matter what Credit Karma estimated.

Nov 02, 2015
I have a car loan and two credit cards .
KiltedYaksman Loan Holder

These folks are straight up and are as good to you as you are to them.

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Oct 22, 2015
2015 Volkswagen Auto Loan
kensnfla Loan Holder

I will say 1st read your information carefully so you know what youo are getting into.  I have an auto loan with Capital One and I must say I could not be more please with the options I have and the ease of taking care of my payments and schecking my balance and so on.  I have my Checking and Saving accts with them now and also a credit card with them.  Capital One has been nothing buit a pleasure to do business with.  Hope that next car will have a little lower interest but still not too horrible with that either.  Thanks Cap 1

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Oct 31, 2015

You can re-fi your car the day after you buy it and get a lower APR.

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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.