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Best Auto Loan Website

  1. Road Loans
  2. Auto Credit Express
  3. myAutoLoan
  4. Drive Time
  5. Auto Loan Soup
  6. Capital One
  7. MoneyAisle
 

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Capital One - Star Review

 
     
 
 

 
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Background:

Capital One Financial Corp is the parent company of Capital One Auto Finance and a member of Fortune 500. The company specializes in various credit cards and consumer loans. The financial corporation offers numerous products and services to consumers and businesses.

Through Capital One Auto Finance, borrowers apply for a loan, and then wait for approval. Once approved, Capital One will send a "blank check" through the mail. Borrowers can bring the check to approved dealerships and begin negotiating car prices. The "blank check" is valid for up to 45 days.

Capital One has a strong online presence that allows borrowers to research the company and its services in a very comprehensive manner. Additionally, the company's website provides numerous reports and company projections for consumers and potential borrowers. Capital One Auto Finance Features Capital One Auto Finance offers numerous features to potential borrowers. One of their most important features are the borrower resources and lending calculators.

Capital One Features:

  • New car loans
  • Used car loans
  • Auto loan refinancing
  • Car buying assistance
  • Lending and cost comparison calculators
  • Online account access
  • Numerous borrower education resources
  • MoneyWi$e online tools for consumer education

Pricing:

There is no application fee or documentation fee when applying for an auto loan with Capital One. The Capital One website maintains an updated matrix of current annual percentage rates and minimums. Also, the website does not provide any information relating to other fees or costs associated with their loans.

Customer Service and Support:

Capital One Auto Finance offers numerous customer support phone numbers, physical addresses, email addresses, and online question banks. Unlike other auto lenders, Capital One does not offer a live online customer support option. Generally, telephone customer service is relatively prompt and can handle most consumer questions.

Pros:

  • Very reputable and credible company
  • Fully integrated online account access
  • Very quick loan approval process (typically under 60 seconds)
  • Many Capital One locations across the United States

Cons:

  • Minimum loan amount of $7,500
  • Cannot obtain a loan for a purchase with an independent dealer or a private party seller
  • Vehicle type restrictions (Capital One does not authorize loans for Oldsmobile, Daewoo, Saab, Isuzu, and others)

Our Impression:

Based on our experience with Capital One Auto Finance, we recommend their services. The company is both reputable and credible. The loan approval process is very easy and customer support is just a phone call away. If your credit history is acceptable and your lending needs fit the parameters of Capital One loans, Capital One Auto Finance loans may be a good fit for you.

Most importantly, Capital One provides a wealth of information about the company's lending practices through its website. However, when considering obtaining an auto loan through Capital One, borrowers should practice due diligence and contact the customer service department in order to discuss loan terms and obtain accurate information about pricing and fees. This specific information is not easily found on the Capital One website but is a critical component to making responsible borrowing decisions.

 
     
 
 
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