Capital One Auto Financing Logo

Capital One Auto Financing

Is This Your Business?
star star star star star_half

5.5

Overall Score

LAST UPDATED: January 19th, 2024

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.

Top Ranked Companies

thumb_up

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.
thumb_down

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.
gavel

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.
Was this content helpful?
thumb_up Yes thumb_down No

Star Rating

info

4.4

star star star star star_half

58 Reviews

Review Breakdown

5 grade

67%

4 grade

19%

3 grade

3%

2 grade

3%

1 grade

7%

Sentiment Criteria

Value

star star star star star_half

Quality

star star star star star_half

Service

star star star star star_half

Trustworthiness

star star star star star_half
cancel

Filter by:

arrow_drop_down

Sort by:

arrow_drop_down
info
star star star star star_border

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.

5 years ago

check_circle

Review Source

star star star star star_border

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.

2 years ago

check_circle

Review Source

star star star star star_border

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.

5 years ago Edited September 14, 2021

star star star star star_border

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.

10 months ago

check_circle

Review Source

star star star star star_border

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

star star star star star_border

Kristi Moore

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

5 years ago

star star star star star_border

Emma Rodriguez

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

1 year ago

star star star star star_border

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

star star star star star_border

Fabadashery LLC Pensacola, FL

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

5 years ago

star star star star star_border

Leonard Matlaw Littleton, CO

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

5 years ago

star star star star star_border

Darius Williams Alexandria, VA

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

5 years ago