Capital One can offer auto loan applicants the peace of mind that comes from applying with a big name lender. This is a lender that makes it easy to search for new and used vehicles within its dealer network by offering pre-qualification on auto loans, as well as refinancing for current loan holders.
Capital One Auto Loans
Capital One provides auto finance options for applicants looking to buy a new or used vehicle within its dealer network, making the search for the perfect car easier thanks to its Auto Navigator tool. How does this work exactly?
If you’re thinking of applying for an auto loan with Capital One, you can see if you pre-qualify with no impact to your credit score. With this pre-qualification in-hand, you will know how much you can borrow, as well as how much you will pay back over your loan term, including your APR.
You can then visit one of Capital One’s 12,000 approved dealers to check out the vehicle you want to buy. If you decide to buy, you can then negotiate purchase terms to receive dealer credit approval, and sign a contract with the dealer reflecting both your purchase and financing terms.
If you currently have an auto loan that you want to refinance, you could do so with Capital One. Note, there are certain vehicles that Capital One does not offer auto loans or refinancing on. Capital One does not offer financing on private sales or lease buyouts.
What You Need To Know
• On new and used auto loans, the minimum amount financed is $4,000. The maximum amount financed is based on income, credit, vehicle, dealer and the financing deal.
• The amount financed may include the sale price of the vehicle, as well as tax, title, licensing fees, dealer fees, and any optional products (such as extended warranty) that you choose to purchase from the dealer.
• On refinanced loans, loan amounts may range from $7,500 to $50,000. Your maximum loan amount may be based on your income, credit, and the vehicle you are refinancing.
• The interest rate you pay will be determined by your credit and key financing characteristics, such as the amount financed, term, loan-to-value (LTV) ratio, down payment amount, and vehicle characteristics.
• You may be required to pay a down payment.
• Capital One auto loans can only be used at participating dealer locations.
• You may only use a Capital One auto loan to purchase a new or used car, light truck, minivan, or SUV intended for personal use.
• Capital One does not finance certain vehicle makes (which include Oldsmobile, Daewoo, Saab, Suzuki and Isuzu).
• The vehicle you purchase must not be more than 10 years old, with more than 120,000 miles on the clock. In some instances, you may be able to purchase a vehicle up to 12 years old with no more than 150,000 miles.