Our rating is based on a combination of expert staff and user ratings.
- Well-Known Lender
- Options For Purchase and Refinancing
- Restrictions on Car Make
Purchase: As low as 3.99% for users with excellent creditRefinance: 4.34% – 24.99%
Purchase: Min. $4,000Refinance: $7,500 – $50,000
Purchase: 24 – 84 monthsRefinance: Up to 12 months
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.
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.
There is no application fee, but there is most likely a late fee.