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

4.4

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44 Reviews

Review Breakdown

5 grade

66%

4 grade

20%

3 grade

2 grade

1 grade

Sentiment Criteria

Value

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Quality

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Service

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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.

6 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!!!

11 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!

4 years 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.

4 years 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!

4 years 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.

5 years 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.

6 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!

5 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.

7 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.

8 years 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

4 years 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!

7 years 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.

6 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!

8 years ago

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Verified Customer

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Jason 31061

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

8 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!

8 years 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!

4 years ago

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James William Roberts

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

8 years ago

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Sofia Tabak Northridge, CA

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

8 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.

8 years ago

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Rhonda stewart Queen Creek, AZ

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

8 years ago

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Alicia Smith

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

8 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.

8 years ago

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Rose Donner

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

8 years ago

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Richard Lehmann

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

8 years ago

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Shelene Cooley Gilbert, AZ

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

8 years ago

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KingRobert747 Ashburn, VA

The process and terms were simple. Nice!

4 years ago

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Emily Hamilton Orem, UT

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

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.

8 years ago