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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 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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Reviews (370)

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Sep 16, 2016
Title takes some time to get.
Anonymous Borrower

The loan application and approval is easy enough.  

I paid off the loan early, but found out it takes them some time to get the title to you.  2 weeks and still waiting for them to send it to the state.  

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Sep 08, 2016
Was great 2 years ago....
Anonymous Borrower

On a whim 2 years ago I applied for a CO Blank Check for a new car purchase. CS at the time was around 540. I was immediately approved for $18,000 at 17%. (I started 6 months prior to this by getting a secured card from CO and then a Quicksilver card) Purchased a 2013 Nissan Altima with my blank check. I have never had an issue with purchasing the car, using the blank check, making any payments, dealing with customer serivce, or anything else. It has been a dream come true. I've made payments on time on all three accounts (car and 2 cards). It is not 2 years later, my CS is up to 635 and I have decided to trade my car in. I have been getting these emails from CO about applying for the "Auto Navigator Program" so today I decided to take the plunge and see what kind of interest rate I could get. I figured I would get about 20k @ 5-10%. Well....I was flat out denied. Ive been a loyal customer for 3 years, always paid on time, had several CL increases, credit score went up by100 points...but nope. I called them to see what the deal was and the lady on the phone told me that she couldnt tell me anything, that a computer decides who gets approved and for how much and I just had to wait until I got the letter in the mail in 7-10 business days. It doesnt make any sense to me. I really wanted to get a new car in the next few months and I really wanted to use another CO Blank Check.  Guess I am stuck with this car for another 6 months or so....

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Sep 08, 2016
They took a chance
Anonymous Borrower

With the TU at 643, i was approved with a high 13.1% interest rate. That is with some bad marks due to being young and dumb. Currently have a Cap 1 CC and a Credit one CC. Looking forward to using this to get me back on track! Looking to refinance here in a couple years. Not mad about the high rate, my fault for not being responsible at young age.

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Sep 05, 2016
Applied to refinance - DECLINED!

FICO score 646. One CO card with 2k limit and 36% usage. Was very surprised to be declined. Hoping they will state the reason for denial in the letter. My TU score 688. 

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Sep 08, 2016

I feel your pain. I have an existing COAF loan and wanted to trade my car in and get another blank check from them for a new car. Applied today and was immediately denied. (FICO 635) I also have 2 CO cards (500 limit and 2500 limit) both kept low and paid on time. I don't understand the denial!

Aug 29, 2016
Pre-qualification means NOTHING

I received an email from Auto Navigator through Capital One to pre-qualify for an auto loan.  I thought this would be a nice approach, as it was a "soft inquiry" and would give me an idea of what to expect for rates when I went to buy a used car.  I was pre-approved for 40k at interest rates based on the year of the car I bought (as long as it was 2006 and newer with less than 120k miles).  To make a long story short, after I found the car I wanted at a well-known nationwide dealership (and one that particated in this Auto Navigator program), I wanted to turn the pre-qualification into a loan. However, when I submitted a "hard inquiry" the terms I received were ballparks different than what I was pre-approved for (I was approved for more than half the 40k, at a higher 6.5% rate, and they required a 10k down payment).  I have a 800+ credit score so that wasn't it.  It was a waste of time to even consider Auto Navigator Capital One. I went with my own bank and got a comically better rate and term. 

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Sep 15, 2016

800+ credit score my f'ing ***. If you had a credit score that high, you'd have a much better offering than that.

Aug 20, 2016
Solid overall- 622 CK score
shadowhunt00 Borrower

I had a 622 score when I applied and about a year removed from filing bankruptcy. Googling reviews from Capital One it seems whatever algorithm their system uses is fairly random on what it approves. People with good scores and income being denied while bad scores and/or bad income being approved. I have a capital one secured card with them. They had just bumped up the credit limit to $500 so I kind of thought taking a gamble would be worthwhile. 

I was about 10 months post bankruptcy with a 622 credit carma score. They approved me for up to $22,000 with the car having to be within the last 5 years. Now is where it starts getting a little tricky. You can only get a car from their preferred dealers. That's pretty much every large brand dealer lot. Cool you have options but those lots are always higher priced. You will have a little bit of a hard time finding a car that matches what your requirements are and is not overpriced. Capital one has their own definition and if you're over you either have to get a different car or put a down payment.

Back to good stuff. Luckily their website (auto navigator I believe) links with every dealerships inventory and lets you know what your interest rate would be for the car and payments and if the car is too much. Capital one is upfront about this next thing (they called me due to an identity issue and explained it). When you go to the dealer you HAVE to let the dealer run your credit with CapitalOne and 3 other companies. It's just how it works. So that will put 4 hard inquires there and one from the prequalification (at least I believe it was a hard). So you have 4-5 hard inquires which kind of sucks when you're trying to rebuild/ build some credit. 

I got a 2014 Chevy Sonic and the interest rate was 14%. A lot but considering my bad credit and less than a year from bankruptcy I really appreciate it. The dealer was actually able to get a better interest rate but capital one was so upfront and good about everything I went with Capital one still (it also wasn't a very big difference in interest rate)

Other reviews say you can't put money towards the principle until you're 3 months ahead OR unless you do it online. I pay online anyways so it is not an issue. When you pay it asks you if you want to put any additional money towards the principle and I've been putting about $5-$10 which probably won't do much realistically but it makes me feel better about myself. 

Read some issues about them not releasing the title when you finish paying. I can't comment since I'm still making payments on the loan. 

The website is easy and the app for android is quick and easy to make payments on as well as look at your balance whenever. I tend to stick with payments on the computer but I've made at last one via the app.

So 5 star service minus having to run your credit again at the dealership and restricting you to the big dealerships which leaves it at 4 stars for me. Hope this helps you in your search. 

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Aug 20, 2016
Auto refinance
pastorjim Borrower

Got a great rate 3.66. Easy to pay online and make extra principle payments. Their app is a snap. No issues, no worries. It is unfortunate for the low rating reviewers, but that is definitely not my experience. From where I sit and in my own experience, Capital One is the best auto loan finance company period.

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Aug 17, 2016
Anonymous Borrower

It sucks! Never getting a loan from capital one auto finance! Customer service is poor.

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Aug 08, 2016
2015 Ford Focus Auto Loan
MagdalynPhoenix Borrower

My husband and I took out a loan through Capital One for a 2015 ford focus. The previous posters are correct, their payment set up is very shady. If you make your payment early it does not count towards the current payment that is due, so you can absolutely end up owing two payments a month. We traded in our car and the dealership sent a payoff check to Capital One for the entire amount due on our car that very day. However our next payment was due the very next day, so the dealership recommended paying that payment to avoid late fees until the payoff check is processed. 3 and 1/2 weeks later and Capital One is still not refunding our money. They received the payoff check 1 week after we made the payment, and our loan showed a zero balance that day and every time we checked afterwards. However we still have not gotten the refund, and when I called the automated system Capital One said they would get us the check by the end of August, 6 weeks after the payment was made, 5 weeks after the loan was paid off completely. After speaking to a rep who was RUDE, I was informed that there was no way to speed up the process or get an electronic deposit, I had to wait for a check in the mail.  So they have almost $400 of my money and are going to hold it for 5-6 weeks before refunding it, even after the entire loan was paid off. SHADY! 

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Aug 07, 2016


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