Capital One Financial Corporation is a bank based in America and is the 8th largest bank in the U.S. This bank offers customers lending services, banking products and credit cards. Capital One has 812 branches across the United States to serve its customers. Below is an overview of the auto loan options offered by Capital One and the features they provide.
Types Of Auto Loans
Automobile loans are provided by Capital One Auto Financial Corporation. They offer several different types of automobile loans including:
- New Automobile Loans From Dealerships
- Used Automobile Loans From Dealerships
- Automobile Loan Refinancing
Capital One has a network of over 12,000 eligible dealerships for customers to choose from when looking for a new or used vehicle. Customers can submit an application for financing through one of the approved dealerships. Capital One also allows customers to search for vehicles on Auto Navigator, which allows them to locate the vehicle they want before going to the dealership.
How To Pre-Qualify Online
Customers can also pre-qualify for new and used automobile loans online at Capital One.com. In order to pre-qualify, customers must enter their name, date of birth, social security number, residence information and employment details. Customers can upload any necessary information such as pay stubs online. Most people receive an answer within 15 minutes on the website.
Capital One.com has an online calculator that allows customers to input their information, so they can see how much they can afford to spend on their vehicle. This calculator gives customers monthly payments based on how long they finance the vehicle for. Capital One’s current financing rates range from:
- New Vehicle Purchases
Customers financing new vehicles at dealerships for 36, 48 or 60 months may be able to obtain rates as low as 2.49% APR. If financing a new vehicle for 66 or 72 months, customers may be offered the same low rate.
- Used Vehicle Purchases
Capital One offers customers financing used vehicles at dealerships rates as low as 2.89% if financed for 26, 48 or 60 months. Financing the vehicle for 66 or 72 months may allow customers to get a low rate of 3.39% APR. However, it is important to note that every customer’s financial situation is different and these rates cannot be guaranteed.
- Loan Refinance Rates
Customers who want to refinance an existing loan with Capital One may be offered a low rate of 2.99% APR for 24 to 72 months.
Capital One Financial Corporation which services its auto loans, has a current rating of A+ with the Better Business Bureau. In a survey conducted by the Better Business Bureau, customers gave the company 3.89 out of 5 stars.