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!