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 49 states across the USA.

• Military members only. Capital One is only available to current and former military members and their families (spouses and children).
• 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.
• 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

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 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.

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. APRs for the Capital One Auto Refinance product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

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

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.