Capital One was founded in 1988 and provides auto financing, mortgage, investment, banking, and credit card services. Forbes has included Capital One on their "Most Reputable Companies" list multiple times. Capital One is based out of McLean, Virginia and has more than 1,000 locations nationwide.

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The Good

Guaranteed Auto Protection coverage
Financial tools

GAP Coverage

Capital One offers borrowers the option of purchasing GAP coverage, or Guaranteed Auto Protection. With GAP, car owners will have excess finances to cover the car in the event of total loss due to an accident, theft, or other reasons. GAP coverage differs from regular car insurance because it covers the amount that is still owed on the vehicle rather than just the vehicle's current cash value.

Financial Tools

Capital One's website features several tools for borrowers who use their auto financing. There is a Dealer Locator tool on the website, which enables users to find car dealerships in a specific area that partner with Capital One for financing. Users can also take advantage of online payment and loan calculators to get a sense of how much financing they can afford. By calculating the loan amount, interest rate, and loan term - users can quickly determine their estimated monthly payments for new or used auto financing. To calculate the estimated loan amount for refinancing options, users must enter their current or prospected monthly payments, APR, and loan term.

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The Bad

Personal cars only
Restrictions on specific makes
Approval time may be prolonged

Restrictions

Capital One Auto Finance only covers personal use of new and used cars, small trucks, minivans, and SUVs. Vehicles that will be used for small business activities or corporate use won't be approved by Capital One for financing. In addition, Capital One also won't finance specific makes of cars, such as Oldsmobile, and Isuzu. They also have a mileage limit of 120,000 miles.

Additional Approval

Capital One states that some car loan applications may be held for additional approval time or until additional documentation has been submitted by the applicant. These additional steps may make the process take longer than expected. Borrowers who prefer to know whether they are approved quickly may prefer to opt for a car lender which provides instant qualification information.

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The Bottom Line

Capital One offers a range of APRs, term lengths, and payment options. These options will likely make it easy for borrowers to find finance options that meet their individual needs. In addition, Capital One's GAP coverage provides added financial protection and peace of mind. We recommend researching Capital One further to ensure their services meet your needs.

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User Reviews

Star Rating

4.3

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53 Reviews

Review Breakdown

5 grade

64%

4 grade

21%

3 grade

2 grade

1 grade

Sentiment Criteria

Value

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Quality

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Service

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Trustworthiness

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Jeremy Summa Inverness, FL

I am faithfully a capital one customer. I bank with them and have had 2 car loans with them so far. My last car loan when I had about a year left on my payments Covid hit hard and I got behind but instead of pressing me to pay or else they worked with me and even refinanced me at a very good rate to help lower my payments way down making it easy to pay off the loan and despite the trouble when I went back to buy another car there was no hesitation from them to finance.

2 weeks ago

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Eileen Rigsby TX

I have financed two cars through capital one and have loved both experiences. Customer service is phenomenal. Any questions or concerns I had were quickly taken care of. The app makes it super easy to schedule payments and keep up to date with loan payment progress.

2 weeks ago

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Mellissa Clark Palm Bay, FL

Simple online form. Filled it out and a few minutes later I was approved. I took my preapproval letter to the dealership and I was on my way.

1 month ago

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Heather H Sanford, FL

Capital One Auto Financing is easy to use and has decent customer service. Their rates are competitive, but they do have some hidden fees.

1 month ago

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Angelina Hamilton Gulfport, MS

I really like how they have become a one stop shop. I now have an auto loan, bank account, and credit card with them. The auto loan was easy and hassle free. Since I already had the credit card they already knew my income. I just applied for an auto loan they then showed me the options of all the cars that was excepted for this loan and exactly what my payment would be like.

3 years ago

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Tim R Portland, OR

Just became a member and have had a few issues getting my card. Not at all because of them or what they have done. In speaking with customer service I have been taken care of beyond expectation. I have to say that I've never delt with better, more helpful people at any other company. My thanks to those of you I've had the great pleasure of dealing with there at customer service. You people are amazing!!!

8 years ago

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Orsion Gainesville, FL

One of the only companies that would give average person that didn't have much credit history and a good credit score a loan for a vehicle. For that I am truly thankful. Now I about have my vehicle paid off and was able to build some credit history to further improve my financial situation. Thanks for giving me a chance!

1 year ago

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C. McDaniel Atlanta, GA

Uh, NO !!!!! At the time we were trying to buy a car, and our credit was not great because of an ex, anyways, they tried to charge 25% interest rate-- ON A CAR LOAN !!! Unbelievable!! We now pay less than 3% !

3 months ago

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Charlotte P Herriman, UT

I had one car with Capital One Financing and it was wonderful! They were so easy to work with and would let me split my monthly payment into two payments a month since I was paid bi-weekly. There website was super easy to maneuver and they only time I talked to them was when the loan was first opened and they called to set up the account, which was fast and easy. I was able able to push a couple of payments to the end of the loan for a little extra spending money for the holidays. Overall the best auto financing I have ever had.

1 year ago

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Franklin DeSoto Lake Zurich, IL

I got a 18% auto loan from Santander because of my low credit score back in March but, I worked to get my credit right, hired a company to help me fix it, and just refinanced my car loan at 5% interest with Capital One!

1 year ago

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Kym Tennant Washington, DC

We got a great rate that was at least as good as our credit union was offering. I love being able to get my statement in the mail so I don't forget to make my payment. Online bill payment option is easy.

1 year ago

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Tiffany I Gaithersburg, MD

I’ve purchased all of my cars through Capital One. Easy approval process. I would do the work at home and take my finalized offer to the dealership. Only wish they would refinance their own auto loans.

3 years ago

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Greg Francis Saratoga Springs, UT

completely hands off. Capital One provides a great car loan service, as I can fix it and forget it. Car Loan process was simple, though the dealership, and the tools to access my account, find where I am with payments, and set recurring payments, directly from my bank are priceless!

2 years ago Edited September 14, 2021

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Bunney Schmidt Orem, UT

Although the interest rate is higher than competitors, we weren't able to get a lower rate at the time so we went with capital one and they were fast and easy and we paid it off as soon as we could refinance but it was a great experience up until then.

4 years ago

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Joy Henry Pleasant Grove, UT

We have a car loan through Capital One on our new car we bought in Dec of 2017 and they offered the lowest interest rate and it was an easy process through Brent Brown Dealership in Orem Ut . It's easy to pay online and see your statement and any information you need.

4 years ago

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Jessica McAdory Plano, TX

Excellent I have had 3 car loans with Capital one and the app makes it so easy to keep up with your loan.

8 months ago

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Laura Mccall Yuba City, CA

My credit is terrible but capital 1 took a chance on me. Paying monthly car payment is super easy and customer service is super nice and help you very quickly

1 year ago

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Tanner Cook Gilbert, AZ

Capital one picked up my very first auto loan and helped me establish credit. They gave me a good rate for a first time buyer and the app is easy to use!

4 years ago

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Alicia Holman Gilbert, AZ

The application process was easy and so was the approval process. However, a third party took over after the approval process and it became a little confusing. Other than that, very happy.

4 years ago

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Shon Scoville Lehi, UT

When I bought my new car from the dealership, they offered dealer financing through Capital One. It wasn't the best rate, but the qualification process was so painless that I didn't mind. It was easy to get me set up to pay and see statements online as well.

1 year ago

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Michael Taylor Long Beach, MS

Simple process when I re-financed my truck with them. It was a simple as using a piece of junk mail I received one day. Applied in minutes and saved 3% on my loan and lowered my payment.

2 years ago

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Shari Evers Lehi, UT

Just got a loan through Capital One. Auto Navigator made it extremely easy. I didn't have A+ credit, got me a great car with a great rate! The pre-approval made it easier to look at cars! Thank you!

4 years ago

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Foote Queen Creek, AZ

I have used them a couple of times and always had a great experience with them. It is simple to qualify and then print out the letter and go shopping, or use the online ability to shop for vehicles find the one you want and go test drive it and finance your new car.

4 years ago Edited September 14, 2021

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Emma Rodriguez

They have a good tracking system for repayment for auto loans. Their interest a a bit high but overall I like them.

6 months ago

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Verified Customer

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Jason 31061

Easy application and approval process. Fair rates. Easy ability to pay.

5 years ago

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Brandy Da Silva Farmington, MN

These people are heartless crooks that have no compassion or understanding when finances become suddenly tough. To offer no financial hardship programs is really disappointing. They expect you to become homeless over a car. How pathetic is that, when you got people sleeping in them already. I will never finance with them again for anything. They are criminals.

1 year ago

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Odao Ogbonmwan Mableton, GA

Not a fan, I’ve always payed my car note on time but I don’t like the fact that you can’t refinance your loan to get a lower monthly payment. It’s been a real strain on me for a while to have this hefty loan payment each month so I’m hoping to get better rate from a different loan servicer.

3 years ago

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Mark Evers Lehi, UT

Just this week got a loan through capital one! Very easy and seemless! Auto navigator is great! Select your car, take your pre-approval to the dealership and you are set!

4 years ago

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Tom Pleasant Grove, UT

Capital One is a very reasonable loan destination for new or used cars. I have used them and they rate is good and as long as your car is not too old and doesn't have too many miles it will work great for you.

5 years ago

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Kristi Moore

Have two different accounts with this company lack of customer service for long-time loyal customers seems to be an issue

4 years ago

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Monique Snow Sterling, CT

So easy to use. Approval was very fast and the rate was good

11 months ago

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TheOne AndOnly Gibsonia, PA

Gave me the best interest rate! Very easy to work with even paying the monthly payment!

1 year ago

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James William Roberts

They provided me the lowest rate and the go out of their way in customer service.

4 years ago

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Sofia Tabak Northridge, CA

They don't make it difficult, they are helpful, polite professional and knowledgeable.

5 years ago

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Dee Farquharson Washington, DC

No matter how many times I request to no longer receive it, I keep getting mail about taking out a car loan. The car dealerships that they're linked to in the area are sketchy, at best.

4 years ago

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Jim Stewart Queen Creek, AZ

Used their pre approval loan process. It was easy and fast to buy a car and be immediately financed.

4 years ago

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Diane Bona Venice, FL

This company can gives loans to many people. Customer service can be difficult to use

5 months ago Edited December 16, 2022

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Rhonda stewart Queen Creek, AZ

Great, easy to use, received money quickly. On line approval was a great plus,

4 years ago

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Alicia Smith

Ease of payments and notifications. Easy to get in touch and get answers!

4 years ago

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Sadie Scoville Pleasant Grove, UT

My mom uses capital one all the time and she loves all the cash back that she gets.

5 years ago

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Pam Coleman Hempstead, NY

They gave me a car loan when I didn't think I qualified for 1.

5 years ago

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Fabadashery LLC Pensacola, FL

Good but could improve communication. They shouild try email and other electronic notices.

5 years ago

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Richard Lehmann

Flexible payment schedule. They allow me to make half-payments twice a month!

5 years ago

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Rose Donner

Love their app, easy to use, make payments, and access to creditwise info

5 years ago

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Shelene Cooley Gilbert, AZ

Approval process worked great. Not problem with funding. Easy to make payments automatically.

4 years ago

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KingRobert747 Ashburn, VA

The process and terms were simple. Nice!

1 year ago

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Leonard Matlaw Littleton, CO

Good rates and service. Easy to deal with and knowledgeable.

5 years ago

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Emily Hamilton Orem, UT

Supper nice company and very easy to work with I've loved my experience

1 year ago

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Darius Williams Alexandria, VA

great customer service over the phone. Had high APR than some others in industry

4 years ago

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CAROLE SCOVILLE Pleasant Grove, UT

I love the online car loan - easy payments, no need to go into a branch.

5 years ago

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