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.
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.
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.
The FAQ section of the website offers answers to questions about topics like application inquiries, the approval process, dealership information, valid documentation issues and more.
Capital One Financial Corporation has an A rating with the Better Business Bureau, and the Bureau reports that Capital One has responded to all complaints that have been filed in the past three years.
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.
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, so the process may take longer than expected. Borrowers who prefer to know whether they are approved quickly may prefer to opt for a car lender like RoadLoans, which provides instant qualification information.
Not looking for Capital One Car Loans? Try these pages:
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