Capital One Auto Finance

Pros: They cash our check in an average time
Cons: Misapplied payments and they do not respond to your questions - awful to deal with.

I have been trying to get Capital One to correct a misapplied payment since July 2006. For some unknown reason - they applied all of our payment to principal - none towards interest. Then the next payment we made they charged us interest of over 60 ...

Pros: Run your credit quickly
Cons: Hidden requirements, HORRIBLE CUSTOMER SERVICE

Customer service is horrible. I've encountered even compared to Sears... On hold for over 20 minutes without being told why and never during the hold time told that they are still looking into it and will be back as soon as possible. For their blank ...

Pros: Easy application process, generous loan policy, reasonable rates, convenient auto purchasing.
Cons: ACTUAL limit of "Blank Check" is 120% of Trade-in value of the vehicle. Be aware!

Having gone through bankruptcy 2-1/2 years ago, getting financing on a needed used car was difficult...until I found Capital One Auto Finance. After completing the on line application, and one follow-up phone call, I was approved for a Blank Check for ...

Pros: Pros?  They were very unprofessional about the whole process.
Cons: Didn't give me loan despite folowing their instructions and having very high fico.

I applied for a loan in this obviously crazy financial climate (November 2008).  I have very high credit rating (777 fico) but I am self employed so I thought that might be an issue.  However, the web application seemd fine with that so I went ...

Pros: Fast, Professional, Convenient, Helpful, Friendly
Cons: Horrible High Rates, Slow Blank Check Shipping

I've done my research when it comes to looking for a good deal. I write letters to companies with questions, read every FAQ I can get my hands on and always read the small print. I found many people online saying that Capital One was one of the best ...

Pros: n/a
Cons: crooked

One must be careful when dealing with these people. My mom has a car financed through them and has caught hell. She turned over her business matters to me and I gave them hell when I found out they were trying to charge her over $500 which they ...

Pros: GOOD RATES ON INITIAL OFFER
Cons: UNDISCLOSED TERMS ON APPROVED AMOUNT

If you don't take time to read this whole post just get this - THE BLANK CHECK THEY SEND YOU IS NOT NECESSARILY GOOD FOR THE UPPER RANGE OF THE LOAN YOU ARE APPROVED FOR. FIND OUT HOW MUCH THEY WILL LEND FOR THE SPECIFIC VEHICLE YOU ARE PURCHASING! I ...

Pros: Fast blank check and ok rates for your loan thats it dont use them.
Cons: Capital One Auto has the worst customer service and there all Dishonest.

Dishonest representatives Bait and switch interest rates and difficult private seller transactions. Do not use them you will hate your life when you do business with them.First there customer service is the worst I have ever dealt with in ...

Pros: fast approval
Cons: everything else takes forever to fund the check "blank check" isnt really a check

i applied for capital one financing, got approved within a day, then took a couple days to get the check and had to send them some more information, everything went ok......... then i went to the dealer and used the check, says on the back of the check guaranteed payment within one buisness day and the bank claimed that it would take a week to fund the check........the blank check sucks and isnt even really a check, its actually a draft which has to be converted into a check..... i ended up cancelling it and got financing thru the dealer in about 20 mins.

Pros: Ability to submit your own application online.
Cons: Deceptive solicitation.

I was pre-approved according to the letter they sent me. All I had to do was bring in the required materials (paystub, phone bill, references) to the dealer. I had a suspicion, so I tried to apply for Cap One financing on my own ,on the website, and it declined my application. My down payment wasn't significant enough. Well, the letter didn't specify what kind of downpayment I needed. I would have been really embarrassed at the dealer.

Pros: NONE
Cons: Deceptive and perhaps fraudulent practices.

I applied for an auto loan on-line through Capital One. I was quickly approved. They sent me a blank check in the amount of my approval. I did not use the check as I was not sure that I wanted to proceed with the auto purchase. A few weeks after receiving the check, I received my first installment payment invoice! The original blank check was still sitting on my desk. No car was purchase, the check was not cashed yet they wanted me to start making payments. I called them the moment I opened the invoice. They told me the funds (the blank check) were funds already drawn on their bank which of course is insane since the check was not cashed. I would strongly suggest that any consumer shopping for a car loan NOT use Capital One. Just a terrible experience bordering on fraud.

Pros: FAST, easy
Cons: No human contact (if you need that sort of thing)

I read the opinions posted here prior to signing with Capital One, and I must say that I did have some second thoughts. However, You cannot beat the interest rate (5.45%) when compared to what my bank was offering (10.7%). I submitted my application at 6:10 PM, was approved at 6:15 PM, called them to confirm some things, and was off the phone by 6:30. My blank check arrived the next morning, and I purchased my car two days later. My first payment is due in four weeks. From my perspective, if you have a good credit rating and you know what you want, you can't beat it.

Pros: There are no pros.
Cons: all cons. in more ways than one.

I went through the lengthy application and was approved for the amount I wanted, then I was informed I could not buy the car I wanted, because it was to old. Even though the car only had 11,000 miles on it and was a steal at the price it was being offered at. I should have known better after being lied to by them in reference to my Capital one credit cards. But that is a story for another day.

Pros: Enticed with an easy loan processing setup: a "bait & switch" on customer service.
Cons: Misapplied payments, Failure to process automatic payments, HARD time getting SOMEONE to CORRECT account payments.

Misapplied payments and Failure to Process Automatic Electronic Payments:

Principal only payments were applied incorrectly. The automatic electronic payment designated by the loan contract FAILED to happen for 3 months. On-line information was inaccurate because it did not reflect payments applied to the account. All of this caused our account to become delinquent and was sent to collections.

Collections called us at 9:38am on a Saturday morning to inform us that it was our fault that WE did not make sure that CapOne was following through and making electronic payments from our account. Furthermore, NEGATIVE information was sent to the credit reporting agencies which lowered our credit rating.

Summary:

1. We were guilty of paying MORE than was owed to lower the principal amounts
2. Payments were misapplied
3. CapOne did not process 3 automatic pmts from our bank account
4. Calls to CapOne to correct the problem encountered employees more concerned with “talk time” than with fixing our account
5. Our account was sent to their collections department
6. Negative information was sent to the credit reporting agencies

DO NOT USE CAPITAL ONE for your loans.

Pros: 50/50 chance the check won't bounce.
Cons: Employees do not have proper product knowledge. Not worth the headache

Customer Service Reps are hit or miss as far as knowing what they are doing. Bought a car and sent the check to the seller's lein holder. I contacted customer service and asked if it was ok to change the terms of the loan on the check I had used from 36 months to 48months. They said no problem becuase the check had not been cashed yet by the leinholder. A little while later I get an e-mail from Capital One saying they are Federal expressing me a new check!!! Will the check I all ready used bounce or go through? That is the ten million dollar question. If it bounces what do I tell the seller? If you do a person to person transaction with CapitalOne you are asking for headaches. If the seller has a lein on the title the headaches are even bigger.