Capital One Auto Loan

7.6 Total Score
4 reviews
WalletStars

Our rating is based on a combination of expert staff and user ratings.

7.6Expert Score
Support
8
Affordability
6.5
Benefits
7.5
Application Process
8.5
8.2User's score
Support
7.3
Affordability
8.3
Benefits
7.5
Application Process
9.8
PROS
  • Well-Known Lender
  • Options For Purchase and Refinancing
CONS
  • Restrictions on Car Make
Add your review
Average Score 7.6
PROS:
  • Well-Known Lender
  • Options For Purchase and Refinancing
CONS:
  • Restrictions on Car Make

Introduction

APR

Purchase: As low as 3.99% for users with excellent creditRefinance: 4.34% – 24.99%

Loan Amount

Purchase: Min. $4,000Refinance: $7,500 – $50,000

Loan Term

Purchase: 24 – 84 monthsRefinance: Up to 12 months

About
Capital One is a well-known bank that offers a multitude of financial products and services. As a Fortune 500 company, Capital One is one of the most widely recognized brands in the U.S. They have a broad range of products and services including consumer banking, commercial banking, and credit cards. Capital One offers auto loans for both purchases and refinancing current loans. Their auto loans are one of the best choices for those with bad credit, since Capital One allows a minimum credit score of 500 – 540, depending on if you are making a purchase or refinancing.

Suitable For
Capital One auto loans are a good fit for those who want to pre-qualify for auto financing with a well-known bank or lender in order to simplify the purchasing process with the car dealership. Capital One is also good for those who want to check their credit score with a soft pull, which means that checking will not impact your credit score.

How to Qualify
For purchases, this auto loan requires that you have a minimum credit score of 500. For refinancing, you need to have a credit score of at least 540. You also must have a minimum monthly income of $1,500 – $1,800 in order to qualify for a Capital One auto loan, depending on your credit. In order to refinance a current loan, Capital One requires that your vehicle is no older than 7 years. For purchases, the vehicle can have a maximum of 120,000 miles on it and can be no older than 10 or 12 years, depending on the state you live in. Capital One auto loans cannot apply to the following makes/models: Oldsmobile, Daewoo, Saab, Suzuki, and Isuzu.

Additional Fees
There is no application fee, but there is most likely a late fee.

 


GET UPDATES TO YOUR INBOX

Don't worry we don't spam

We will be happy to hear your thoughts

Leave a reply

Your total score

Login/Register access is temporary disabled
Compare items
  • Credit Cards (0)
  • Personal Loans (0)
  • Auto Loans (0)
Compare
0