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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 (356)

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Jul 20, 2016
Anonymous Loan Holder

The only good thing I can say, is that they took the risk and actually approved me for my first auto loan. When you receive a loan from Capital One Auto Finance, know it comes with a dish of hidden fees, harassment and intimidation. By far the worst company I have ever dealt with.

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Jul 17, 2016
608 score 7.4% Interest!
Tim0510 Loan Holder

My wife and I decided to purchase a new vehicle in May and settled on a 2016 Jeep Cherokee. I used the prequalification tool with COAF and recieved a preapproval for $28k and 6-15% interst. Went to an approved dealership and picked out our Jeep and of course the dealer ran our credit through all of their lenders which ALL came back with denials or 18% interest rates. Delaer told us COAF came back with 9%. We signed the papers and drove away with our new Jeep. When I checked our loan online the interest rate was actually 7.4%!!! My credit score was 608 and my wife had no credit score at all. We are very happy with Capital One as we both have credit cards with them as well as our auto loan. I would reccommend them to anyone!

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Jul 17, 2016
Anonymous Loan Holder

My husband has an auto loan through Capital One. He was working with an agent who was supposed to be letting him know if he was eligible for lower payments. She would tell him that she would call him back. She never has. He has called her daily for a week now, 5 days! & she has not once answered the phone or called back. So then called customer service again, they told him a new agent would be scheduled for him to call him before the weekend. It's now Sunday and he never got a phone call at all. Wtf is wrong with customer service??

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Jul 16, 2016
Easy to apply and the rate as promised.
rabbott3 Loan Holder

Try capital one auto loan first if you're looking to finance a new vihecle. I tried many Banks but Capital One gives me the best rate on auto loan. The process is very easy by applying online and I was pre-qualified for $23,000 at 2.49%. I walked in at the dealership and let them know that I am pre-qualified by Capital One Auto Loan. The dealer ran the application and bam! I got the rate as I was promised, couldn't be easier. My Bank (USAA 4.59%) can't even match the rate from the Capital One. 

At the time of application summited: TU 743, EQ 720, FICO 698, capital one hard pull EQ as it's shown on my creditkarma account. Thanks Capital One!

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Jul 13, 2016


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Jul 01, 2016
I applied for this loan on credit karma

I applied under the recommendation part of
credit karma. I thought it was a chance to improve
my credit score but all I got was another hit to my
credit score and a no letter from Capital one auto
finance. thanks for nothing Capital one. d thomasson

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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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Jul 18, 2016

They want people with crappy credit so they can take advantage of a borrowers desperation. Why would anyone want to have to talk to someone in another country who will tell you their name is Paul. They are liars, swindlers, and cheaters. The ones who actually do sign the contract had no business buying a car anyway if their credit was trash. My scores: TU- 799 EQ- 796 Exp- 804 CK- 777, 801. I am reading reviews for a business model project using Capital One so please people don't get it confused.

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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.