Pros: Within 10 days of applying, I got my car and had my loan funded!
Cons: Website isn't always working or accurate; call Capital One for clarification!
I had an excellent experience with Capital One Auto Finance. After recently filing for bankruptcy, I was certain that no one was going to lend me money for an auto loan, and I would end up having to go to a buy here/pay here dealership. I was wrong! I applied for financing online with Capital One. I received a decision within a minute that I was approved for up to $13590.72. I have a credit score of 501 and a gross monthly income of $1728.00. I submitted my required documents to Capital One immediately (2 references, Government Issued ID and a month of paystubs). My documents were all approved within 1 business day. I received my blank check 4 business days after I applied for the loan. By the time I received my check, all of my required documents were already approved and I was free to shop! Capital One has certain requirements for their auto loans. You need to make sure that you read what these are to ensure no problems arise when dealing with the car dealership. My vehicle needed to be a 2005 or newer, with less than 70,000 miles, and no greater than a 110% Loan-To-Value Ratio. The LTV Ratio of 110% can be tricky! Just because you are approved to write your check up to a certain amount, doesn't mean you will be able to. It is all going to depend on the car. I ended up purchasing a 2011 Mazda 2 with 481 miles for $12628.00 (before taxes, tags, etc). Freysinger Buick GMC in Mechanicsburg, PA gave me a great deal and were able to work within the 110% LTV Ratio. It literally took me 5 minutes to sign all the required paperwork at the dealership and I was off in my new car! Within 4 business days of picking my car up, all of the dealer documents were approved by Capital One, the dealership cashed the check, and payment was issued to them. I have read all of the other reviews on here and I admitt I was very nervous. However, I have had nothing but a pleasant experience with Capital One. Anytime I called, the customer service agents were more than helpful (and they all spoke fluent English)! I would recommend that anyone applying for a Capital One Auto Loan, READ ALL THE Q&A's ON THEIR WEBSITE AND THE FINE PRINT IN YOUR BLANK CHECK PACKET! I feel that doing this is imperative in your success with financing a loan through Capital One. Again, they decided to give me a chance when other lenders wouldn't...and I am very thankful!