Best for applicants wanting to pre-qualify for financing and find a new vehicle online, before visiting the dealership. Show
Full ReviewCapital One Auto Finance offers financing for new and used cars, but only through its network of participating dealerships. It also provides refinancing for existing car loans. Whether applying for a purchase or refinance loan, applicants can pre-qualify with a soft credit check, which won’t affect their credit score. This enables them to get an idea of the interest rate, term and monthly payment they may qualify for before proceeding with the loan. If they do accept the loan offer, a hard credit inquiry is done. How Capital One Auto Navigator worksFor auto purchase financing, Capital One Auto Navigator enables car buyers to shop for a car and apply for a pre-qualified loan offer on its website or through a downloadable mobile app. New and used car financing is limited to one of more than 12,000 dealerships available on the Capital One Auto Navigator tool. Car buyers request pre-qualified offers for the specific vehicles they are interested in and can try different payment scenarios by adjusting factors like down payment amount or term length. After pre-qualifying online for a Capital One Auto Finance loan, car buyers take their saved offer to the dealership, where application paperwork is completed and a hard credit inquiry is done. Dealers may also provide offers from other lenders at this point, and car buyers are free to go with the best loan available. How Capital One auto refinancing works
For auto loan refinancing, borrowers work directly with Capital One. The application process is 100% online, including e-signing the contract and uploading documents. If they pre-qualify, applicants will see several offers with different rates and terms, based on a soft credit inquiry. This inquiry will not affect credit scores and lets the applicant see if refinancing a car loan will save them money. Pre-qualification decisions for refinancing are typically returned in less than one minute. After applicants choose an offer, they complete the refinance application online, resulting in a hard credit inquiry. While pre-qualification is useful for shopping loan rates or speeding up the process at a dealership, it is not a guarantee of loan approval. Also, pre-qualified loan offers can change after a hard credit inquiry. But, if the information initially submitted was accurate, the pre-qualification offer and final loan terms shouldn’t differ greatly. Capital One Auto Finance may be a good fit for those who:
Capital One Auto Finance at a glance
Does Capital One allow refinancing?While it's best known for its credit card offerings, Capital One also provides financial services including refinancing auto loans. Capital One auto refinance allows you to prequalify to refinance your vehicle without hurting your credit score.
What is the number to Capital One auto Finance?If you require additional details, call Capital One Auto Finance Customer Service at 1-800-946-0332.
Do refinancing hurt your credit?Refinancing will hurt your credit score a bit initially, but might actually help in the long run. Refinancing can significantly lower your debt amount and/or your monthly payment, and lenders like to see both of those. Your score will typically dip a few points, but it can bounce back within a few months.
What is the lowest interest rate for refinancing a car?In our research, we found auto refinance rates as low as 1.99%. However, lending rates are largely dependent on your financial situation, including your credit score, as well as the term length you choose.
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