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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.
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.
I don’t know why there are so many negative reviews about Capital One Auto. I’ve had a great experience with them. I pay on time, or early, and I pay a little extra too. And contrary to what others have said, YOU CAN USE A DEBIT CARD!!! That’s how I’ve been doing it for the 2.5 years I’ve had my loan with them. So, like any lender, you have a contractual agreement with them. If you live up to your end of the bargain and pay like you’re supposed to, you won’t have anything to worry about.
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I have been with Capital One Auto for about 2.5 years now. A few late payments, well because life happens. So I get a call on today and I let the rep (foreign) know that I have a payment set for Friday. He responded, "Okay well just don't forget your monthly is still due on the 24th." Okay cool. As I proceeded to hang up, I hear him say. "That's why ** shouldn't get cars if they are poor and need to learn how to pay bills." I hang up to call to speak with a supervisor who is sooo dismissive to what I'm saying. I have no reason to lie about anything like this. So I'm leaving complaints on every platform. I would rather deal with a repo than deal with these people any longer.
Capital one is a bunch of thieves and liars. Never pay online and by the way I pressed one for English. There is no way they will continue to be in business they are disgusting liars. I don't owe enough on my car to refinance and you had no chose with my Walmart card but I am looking into closing my card now.
I financed a 2016 Chevy Sonic through Capital One Auto. I incurred medical bills towards the end of the 2nd year and switched jobs during the 3rd year. I asked for a deferment to assist me initially receiving medical bills so I could maintain my car note payments. I had 5 co-workers at the time who also were experiencing financial hardship and to my surprise, discovered they had requested a deferment and that allowed them to put their past due payments at the end of their loan. When I called to get assistance, they told me they'd never heard of a deferment. I asked for a supervisor, they said as long as they've worked there, they never heard of a deferment.
Fast-forward, due to a change in employment, the snowball effect of continued medical bills and having to face not getting treatment until I paid the doctor, my vehicle was repossessed last Friday. Before I called to see what options were available, I got a call from a relative facing repo, about to get a DEFERMENT through guess who, CAPITAL ONE. Once I decided to call them and ask what I can do to get my car back, now they tell me THEY CAN DEFER THE REPOSSESSION FEE AND MY LATE FEES.
I pray that this company from the very top to the very bottom reaps the harvest of their seeds and deeds they've sown. I will not recommend this company to finance a dog for me, I know if anything in life happens that may prevent me from paying they'll repo the dog, send it to the auction to be sold in less than 7 days and still go to bed at night knowing they destroyed lives. I was divorced after this incident, yes, lost everything and now, they offer a deferment when it's too late.
I traded in a truck which was financed through Chrysler Capital, when I asked who the new loan was through they said the same co. I get about 8 mailings a week from credit card co. so wasn't paying attention when I received mail from Capital One. By the time I realized my auto loan was through capital one I called them up and paid all the past due and late fees. They reported the late payments to the reporting agencies and when I called to explain what had happened they were extremely rude and told me "they only report late payments, not what happened or any explanations and that would make no difference anyway." I tried to ask several questions when I thought she was finished and she would start in again "We don't make explanations. We just send in late payments, we can't lie for you". They are a nightmare and I would never deal with them again in any way! It's no wonder they have to send out so many solicitations!
I want to give them zero stars. I was able to get financing through Capital One Auto Finance. I paid my very high payment early every month. I kept full coverage insurance on the vehicle. I even have GAP insurance. The problem happened when my car was in an accident and was towed by FHP to a tow yard. The tow yard sent a notice to Capital One advising them the car was there and it could be auctioned after 35 days. Capital One repossessed my car before the insurance company was able to get it moved to the body shop. Capital One required repo and impound fees to release the car to the insurance company. I paid the $641.60 ransom. Capital One provided release.
When I was setting up the appointment to pick up the car, I was informed that my car has been sent to auction. Now I would need to pay more fees to reclaim the car. A car I was never late on. They plan to sell my car tomorrow. I have no money to get it back. Now they will charge me lots of interest plus the balance of the loan. I have filed complaints, but Capital One is ignoring me. I am telling everyone my experience. I want to warn everyone against Capital One. They prey on innocent people hoping to get some extra fees. The customer service was absolutely no help. I can't pay the fees so they are going to ruin my credit and not get any extra money. It makes no sense.
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