About Capital One Auto Financing
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I've been trying to do a simple name change on my auto loan for 3 months. Their customer service is a joke. They tell you something different every time. Countless calls. I've done what they ask, fax or mail, proof of name change, which I have 3 times. They always say the same thing, "we didn't receive it", or "wait another 7 days and call back." It's ridiculous. They are horrible. I will never get another auto loan from them again.
It is Nov 29, 2022. I have been trying to get my lien release on a car I have already sold to another family member since May. Loan has been paid for years. I never received a release. Trying to get one from them is an absolute nightmare. Never get an auto loan from them.
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Despite the loan being paid in full, & despite MANY phone calls, emails, & faxes, Capital WILL NOT give me the title. So now I CANNOT trade the car in... SOOOO frustrating... WORST car financing EVER... Borrower beware... I will NEVER finance with them AGAIN.
Start with opening an account and downhill from there. They require texting. Not everyone in this world does texting or uses cellphones. They offer no alternatives. Their dumb response by letter: "once you've joined Capital One...." which completely overlooks the question: how to join without text or cellphone????
I'm trying to get my name off a car loan that's in my ex husband's name and mine. I called to get a Cosigner Release form - the easiest way to get a cosigner removed from a loan. They refused to go that route. The only thing I can do is pay off the loan, trade the car in for another car, or sell the car. Options that are not going to happen. They won't even refinance the loan so he can keep the interest rate. It just seems to me that they don't want to work with their customers to keep their customers. We've never been late on a payment for the car of credit cards. They prefer us to take the car loan to another financial institution. That's what they said on the phone. "Refinance it with another financial institution because we don't refinance our car loans." I've never heard been treated like this before. Like my business is not worth keeping.
If I could give them -5 I would. Don’t ever have a change in income and ask for an extension. I’ve paid faithfully on time for the duration of my loan. Hit financial snags, knew they were coming so started calling before my payment was due for options. I called for 6 weeks, spoke to over 23 different reps, got extremely inconsistent and unreliable answers for options. Did not qualify for extensions no matter how hard I tried.
Mind you, I’ve had to call a total of 87 times in those 6 weeks. Every other person I connect with either disconnects my calls, then the next rep says “We can’t see account information at this time” and tries to sound automated, but they’re refusing to speak with you. Then you call again and they try to transfer you to a supervisor in which your call will be disconnected. I’ve called and have scheduled 4 different times to have a supervisor contact me back. Not ONCE have they ever, and they will NOT directly transfer your call to one. Today was the last straw. I called and explained I had all exchanges logged and I demanded a supervisor. I was told one will call me by end of business. I was told that “this supervisor is extremely reliable and will contact you by 9pm.”
SHOCKED when it didn’t happen. Do not ever give this business your money. They only care about you when they’re getting your money, God forbid life happens - no matter how great your track record is, they don’t care about you. I’m writing a review everywhere that I can and contacting the BBB. Shame on you, Capital One. Shame on you.
Beginning in February of 2022, 4 times I have submitted a title transfer application and VIN inspection to change states from Georgia to Oregon. Eight months and I still have expired tags. I was advised on 9/28/22, on speaker phone with a witness listening to the call, that my documents were shredded in July as they went to the wrong department. The first time I sent the documents I called after waiting for weeks to allow ample time for processing.
I was told the VIN inspection was received but not the application. However, they were both in the same envelope. If one was received, then both had to have been. During that call, I was told by Capital One that I was required to send the DMV check to them or they couldn’t process my request. Checking with the DMV in Oregon I was told Capital One should not need the money as it goes to the DMV. To “expedite the process”, I included the check (made out to the DMV) with another title application and VIN inspection. The check was deposited into Capitol One’s account in July but Capital One claimed they had not received my documents. (I have a copy of the cancelled check). Apparently, this was the time they were shredded.
Once again, I sent the documents, this time to the Preston address in Dallas, provided by one of the agents. They claimed the documents were not received. Capital One sent a FEDEX with blanks of the documents to be filled out once again. 9/29/22 I spent three hours at the DMV getting another VIN inspection and resent the documents overnight on 9/30/22. I am flying to Hawaii October 10, 2022 to work as an independent Insurance Broker for Medicare AEP. Without a current registration, Pasha Hawaii, scheduled to ship my vehicle on 10/6/22, advised me to get a lien letter. I had to delay the shipping date due to these issues with Capital One.
Now it will arrive a week later, and I will have to be renting a vehicle longer. To get it shipped I have less than 3 hours to drop it off TODAY. I FAXED the documents I was asked to send for the Lien letter. My “employment” description was denied, requesting a TAX ID – which is simply my social security #. I even gave the information for the Agency that I’m contracted with if they want to verify. Today, October 7th, was the last day that I can personally take my vehicle to the shipper, but the time has now passed.
I drove my vehicle from Oregon to CA to meet this shipping deadline, and I will be leaving Monday. In addition to extra hotel bills, I also got injured at the hotel when I tripped in one of their holes in the sidewalk. Multiple calls to Capital One, being referred to the wrong people, or told they will get back to me. If they leave a voicemail, I am back to square one as I cannot ask for a specific person. After doing everything they’ve asked me to do, there is still no resolution.I have now incurred
a. more expense, increasing stress,
b. the dilemma of figuring out how to get my vehicle shipped if Capital One ever gets their part done,
c. where to store it in the meantime
d. who can take it for me,
e. no vehicle as expected to use in Hawaii, requiring rentals.
The incompetence involved in this experience has appalled me. What company takes 8 months to process a title transfer so a client can get a current registration? I have been patient with every call, even though every one of them requires jumping through hoops and pressing menu numbers, then explaining everything all over again. They are "not allowed" to connect me to a specific person. The calls are countless and still no results. They have no desire to accommodate appropriately without adding more steps for ME to complete, and at times talk to me as if it's my fault. If anyone can help me resolve this issue I would be very grateful. I've done everything I can and never expected things to get to this point. It's truly absurd.
Capital One is more interested in your vehicle than your loan. If you're a couple days late, they threaten you to pick up the vehicle. It’s like, they don’t want your money, they want your vehicle. The people with authority, including the president, hide. They don’t want to face the way customer service treats people. I’ve offered them multiple payments several times, but they want the vehicle instead. You’re better off dealing with Guido.
I will tell you that once you have refinanced an auto loan through Capital One, if you had Gap insurance on the previous loan then it will not carry over to the Capital One loan, since you are not a dealer. Think twice. If you get in an accident most insurance companies only pay off the wholesale amount and you are responsible for the money left. Including if you rolled old payments into the car, from an older loan.
After being a customer for over 5 years we decided to refinance through our credit union to ridiculous high interest rates. I got the 10 day payoff which was good until 8/8/22, I overnighted 2 checks and they were received and signed by their corporate office on the 8th, they didn't put the funds on the account until the 9th and 10th bc they split up the big amount to 2 separate figures totaling the certified check amount. They then reversed the amounts on the 15th saying our bank denied to release the funds. Mike in escalation stated he didn't think NFCU would do it but if they would honor the check that COAF had then they would honor the 8/8 payoff previously provided.
NFCU knowing they messed up by accidentally deleting our entire loan in their system stated they would honor the same check for the same amount and sent over a check 21, which is basically like an ACH electronic payment that is recognized by all financial institutions on 8/25. COAF stated they didn't receive it. Terry the manager at COAF said, however when we called NFCU and then 3 wayed COAF Terry stated they did in fact receive it but would not accept it and was rude and nasty and a liar.
Every time we called it was wait 7 days, wait 7 days nc meanwhile interest is accruing. We finally had to get a NEW check with a different check number from NFCU FedEx to us and once again have to overnight to COAF, this nightmare is still not over. Save yourself. COAF may be convenient but if you think you will qualify through COAF you will most likely be accepted with a FAR better interest rate through your bank especially credit unions. Save yourself time, hassle, and a headache, and save your wallet because they are greedy and care nothing about customer service.
Capital One Auto Financing author review by Emma Simon
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.
Capital One Auto Financing Company Information
- Company Name:
- Capital One Auto Financing
- Year Founded:
- 7933 Preston Road
- Postal Code:
- United States
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