Capital One Auto Financing Logo

Capital One Auto Financing

Is This Your Business?
star star star star star_half
35 User Reviews

4.3

Overall Score

LAST UPDATED: August 6th, 2021
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

America First Logo
#1 America First chevron_right
5.1 Overall Score
4.7
star star star star star_half
(113)
USAA Logo
#2 USAA chevron_right
4.9 Overall Score
4.2
star star star star star_border
(41)
Mountain America Logo
#3 Mountain America chevron_right
4.8 Overall Score
4.6
star star star star star_half
(63)
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

4.4

star star star star star_half

35 Reviews

Review Breakdown

5 grade

63%

4 grade

23%

3 grade

6%

2 grade

6%

1 grade

3%

Sentiment Criteria

Value

star star star star star_border

Quality

star star star star star_half

Service

star star star star star_border

Trustworthiness

star star star star star_border
cancel

Filter by:

arrow_drop_down

Sort by:

arrow_drop_down
info
check_circle

Review Source

star star star star_border star_border

Seth Grabert Salt Lake City, UT

I had close to no money and I found them and they helped

2 months ago

star star star star_border star_border

Irma

rate could have beenbetter and do not refinance when needed

3 years ago

We're on a mission to empower consumers to make the best decisions and connect confidently with companies that deserve their business.

© 2021 BestCompany.com LLC - All rights reserved Privacy Policy | Terms | Do Not Sell My Personal Information