Capital One Auto Refinance

Capital One Auto Refinance Review

Capital One auto refinance is an auto loan refinance offering by Capital One, based in McLean, VA. Founded in 1933, Capital One offers auto refinance loans in 48 states (and Washington, DC).

Key Takeaways

• APRs starting at 4.1%. There are average starting rates for an auto refinancing loan. If you have good credit you may qualify for a loan with better rates.
• Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 540 are considered for Capital One Auto Refinance.
• Vehicle requirements. Vehicles must be less than 7 years old.
• Refinancing for large loan amounts. You can refinance auto loans of up to $50,000 with Capital One Auto Refinance.
• No origination fee. Capital One Auto Refinance does not charge an origination fee for processing your loan application.
• Cosigner applications accepted. Applying for Capital One Auto Refinance with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
• Minimum income of $18,000. You will need an annual income of at least $18,000 to apply for Capital One Auto Refinance, which is below average for the lenders in our database

Capital One auto refinance Pros & Cons

Capital One auto refinance FAQ

How much can you borrow via Capital One auto refinance?

Auto refinance loan amounts start at $7,500 and go up to $50,000.

What are the auto loan refinancing rates offered through Capital One auto refinance?

Capital One auto refinance offers a fixed APR car loan refinancing product that ranges from 4.1% APR up to 24.99% APR.

Does Capital One auto refinance charge an origination fee on auto refinance loans?

No, Capital One auto refinance does not charge a loan origination fee for refinancing a car loan.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount.

Does Capital One auto refinance charge a late fee?

Yes, auto refinance loans via Capital One auto refinance are subject to late payment penalty fees.

Does Capital One auto refinance charge prepayment fees?

No, there is no prepayment penalty.

What do you need to qualify for Capital One Auto Refinance?

To qualify for auto loan refinancing with Capital One Auto Refinance, applicants need a minimum annual income of $18,000 or higher. Capital One Auto Refinance only considers borrowers who are employed and meet the minimum income requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Capital One Auto Refinance. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Capital One Auto Refinance.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Proof of insurance
• Driver's license
• Proof of identity

What is the maximum car age to refinance with Capital One?

Only vehicles that are 7 years old or less can qualify for an auto refinance.