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I purchased my brand new car in May 2014 and received financing, via the dealership, through Capital One Auto Financing. I paid my car off on 12/13/19, 9 months early. I received the lien release paperwork for my car from Capital One on 1/2/2020 and was successfully able to get the title transferred from Capital One, as the lienholder, to me at my local tag office. During the years I was making car payments, I never had an issue making payments on their website or any issues with Capital One postings payments. If I was to purchase a car again, I would consider Capital One Auto Financing because the process was seamless, for me, during the 5.5 years I had a relationship with them.
I did not plan on purchasing a new car for at least 10 years. Well, the VW TDI debacle changed all that, so I sold my Jetta TDI back to VW; researched replacement vehicles; chose a vehicle; applied for loans. I had a sizable chunk left over after paying off the Jetta. I secured a loan from Capital One at a competitive rate, and proceeded to purchase an Elantra Sport.
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I was pre approved for a car loan and decided to take it to my dealership where I work. It was simple and quick. I have been making above my payments as well and paying extra on my principal to pay my loan off early. I haven’t had any issues with Capital One at all. I have 2 credit cards with them and I’m building my credit pretty quickly. It sucks for the bad reviews Capital One is getting but I’m giving a 5 as to they are doing wonderful in my eyes! You will have my business for life!
After reading all the negative complaints, it seems like there is one underlying theme....either poor credit or not paying the loan on time. Everyone faced adversity from time to time, but if you don't communicate that early, they just can't help you. I refinanced through them and got a much lower rate and actually just paid my car off... early! There are several ways to pay a car loan, but if you're trying to pay it with a credit card, that's a bad idea all around. I had it drafted out of my bank account and have never had any issues with them. If I ever buy another car, I plan to use them to finance that loan.
The majority of the complaints here are just rubbish besides the ones that paid off their loans and had to wait for the titles. I refinanced with them at received a much better rate that saves me $164 per month, I have cards with them also never had an issue. My refinance transaction went smooth and was set in stone within a couple of days maybe because I was already a customer. As far paying your loan with a credit card well yes you can. I do it every month. You must download the Capital One app on your device and when you go to make a payment there's an option to have it drafted from your bank account OR be redirected to the CheckFree website.
On the CheckFree website you can make a payment but there's a $3.50 fee and the payment posts that day or the next business day. You can also add your Capital One loan account to your bank account online and send a payment that way. As far as hardships I had one so didn't pay for 3 months then paid it off, they have a second chance program per se. Since then I've been able to get another Capital One cc and pre qualified for another auto loan with the option of keeping or trading in my current vehicle even though I already have a loan with them. Despite all of this I still can't get a CLI on my first card but I'm not complaining. People need to stop leaving unnecessary reviews.
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There are many reviews that state this same issue - so beware. I went to Capital One for loan pre-qualification prior to shopping (so I would know where I stood.) I submitted all of my information including proof of income and residency and was pre-qualified. I used Capital One's website to search their approved cars from approved dealers, I filled out the Offer Sheets selecting a vehicle with all data populated by Capital One based on my pre-qualification approval, and went to the dealer within a week. I saw the car, presented my pre-qualification offer sheet from the Capital One webite, but when the dealer submitted everything, Capital One's down payment and monthly payment amount were COMPLETELY different. It was the epitome of sleazy. I told the dealer I declined that financing, and that I would be writing appropriate online reviews about this experience.
Not the best, not the worst. I was reading all the reviews and I have to say that I haven't had any of these issues. I have had 2 loans with them. First, one in 2014 and a second one in 2016. I have been late on payments many, many, many times. I was always able to make arrangements to avoid repossession. The reps were never rude. In fact, I'm the rude person. Right now my car is being totaled out due to an accident. We'll see if behavior changes. I did read a couple of posts on this website and thought y'all were idiots. Lady, close that back account or pay a flat fee to your bank to block that monthly payment. Plus, I never do automatic drafts. I've found that all companies will charge you earlier and earlier each month. Honestly, I'll probably get another loan with them next week after all this business is finished with the insurance company.
They are horrible! Lose monthly payments and no credit your account then send you repossession papers and when you call to verify your payments taken from your account, they call you and your bank lists and demand blackmail money to be able to keep your car. Horrible! Will never finance with them again, not even a popsicle.
I purchased a Rav4 in 2017 (Exeter Finance). Had it a year, never missed a payment. Capital One refinanced it for me in 2018. I made a payment on December 20,19 for my 2017 Rav4 amount 443.40; my payment wasn't due until December 26th. I purchased a 2020 Rav4 December 26 '19. Different finance company. Capital one didn't receive the paperwork until 01/23/20. My refund amount is gonna be $26. This is why I'm confused. Shouldn't I get a full refund or capital or close to it.
I am a body shop owner and I was working with Capital One dealing with a customer's car. After speaking with an agent, I was informed that the car we were working on was up for repossession. I then was very helpful with the agent and Capital One in working with them to make the pick up as easy as possible. They informed me that the storage fees that the car accrued would be paid upon pick up and at that point, I could hand over the keys to the Repo agent picking up the vehicle. However, the car was picked up without our knowledge after business hours and we did not hear a word from Capital One or Repo agent before or after this happened.
The storage fees were never paid on this vehicle and every time I call in to see what is going on, I continue to get the runaround and nobody ever calls me back. If I would have known that this company was this unprofessional, I would have never parked the car upfront and kept the vehicle inside to assure we got paid first. I will continue to take further steps to ensure that this will indeed get handled and contact the appropriate parties needed to do so.
Capital One Auto Financing expert review by Lauren Fix
Capital One Bank is a well-known financial institution that provides auto loans and financing for new and used cars. The company was founded in Richmond, VA in 1988.
Low rates: Capital One can provide low rates for consumers with a good credit history. Get pre-qualified and know how much to spend.
Low payments: The company can also negotiate low payments with Capital One Auto Finance specialists to help you lower your payments.
Auto loan calculator: They provide an auto-loan calculator that allows borrowers to estimate monthly car payments for the total amount they need to finance. They also offer an auto learning center to learn about financing, loan extension and more.
Wide network: They have a network of over 12,000 eligible dealers, in order to offer customers plenty of inventory and brand options.
Variety of loan options: The company provides a huge range of auto loan options, whether buyers are purchasing used or new automobiles.
Best for: Customers with good credit ratings who want the best deal on auto loans.
Capital One Auto Financing Company Information
- Company Name:
- Capital One Auto Financing
- Year Founded:
- 7933 Preston Road
- Postal Code:
- United States
- (800) 946-0332
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