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| Capital One Star Ratings |
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In the world of auto loans, there's the good, the bad and the ugly. If you wait till you're at the car dealership to arrange your auto financing, chances are you're going to get stuck with the ugly. Now you don't have to wait till Slick at the car lot runs your credit report and tries to explain why he can't get you the promotional financing advertised on television. Star Reviews looked at auto loan services provided by Capital One, a big name in the industry. See what we encountered in our research below.
What's New with Capital One Auto Loans?
- Auto refinancing now available.
- Lock in a rate for 45 days while you look for your next car.
- Fast online loan approvals.
Star Reviews' Favorite Capital One Feature:
No-obligation blank check program-If you are approved, you're given a blank check that you make payable to the seller. It gives you the power of shopping as a cash buyer with the convenience of paying for your vehicle purchase in monthly installments, and, you don't actually assume any debt until that check is cashed.
The Capital One Auto Loan Process:
Applying for an auto loan with Capital One couldn't be any easier. You simply fill out the online application and you're given a response within minutes. If you're approved, you'll be sent a "blank check" to buy your new car with. It's as easy as 1-2-3.
Auto Loans Offered By Capital One:
Unlike many of the other top auto loans websites on the Internet, when you apply for a car loan with Capital One they are the ones who actually make the loan – they don't just act like a broker. Capital One currently offers auto loan terms ranging from 30 to 72 months with interest rates varying between 6 and 11 percent depending on your particular situation. However, those with bad credit need not apply. You must have somewhat decent credit to qualify for an auto loan through Capital One.
Capital One Offers: - New and used auto loans
- Loan durations of 30 to 72 months
- Interest rates as low as 5.99 percent
- Auto loan refinancing
- No-hassle car buying program
- Online application and approval
- Auto loan calculators
- "Blank check" auto loans
Capital One Customer Support:
Capital One offers what may be the best customer service in the auto loan industry. You can contact the company via phone or you can access their extensive knowledge database from their website. When Star Reviews called Capital One, a rep answered the phone in less than a minute and was ready to address all of our auto loan concerns.
All of our questions were answered quickly (without giving us the feeling of being rushed off the phone) and we were directed to tools on the Capital One website that the rep felt would be helpful to us. Capital One provides curious customers or auto loan shoppers an Information Center, as well, where they can weed out help topics that fit their need or interest. You won’t be left in the dark here!
Upside:
Great customer service, cash buying power, low interest rates.
Downside:
Must have decent credit to qualify
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