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  Capital One Auto Refinance

Capital One Auto Refinance

in Auto Loan Refinancing from Capital One

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Capital One Auto Refinance

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in Auto Loan Refinancing from Capital One

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Highlights
Credit Score Range 540 - 850
Loan Amount $7,500 - $50,000
APR  (Fixed APR) 4.1% - 24.99%
Loan Term (Months) N/A

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
Pros Cons
  • Low APRs available to qualified borrowers.
  • Available in 48 states.
  • $0 prepayment fee.
  • $0 origination fee.
  • Capital One Auto Refinance does not report to credit bureaus.
  • Considers applicants with fair credit.
  • APRs as high as 24.99%.
  • Charges a late fee.
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?

Applicants with a credit score of at least 540 and up to 850 may be eligible for Capital One Auto Refinance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

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 are, of course, eligible for the services offered by Capital One Auto Refinance. Permanent resident / green card holders are also eligible to apply.

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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Capital One Auto Refinance

Refinancing could be a way to keep more of your money in your pocket every month. Most of the process can be done online at your convenience, and pre-qualifying takes about 5 minutes. Thousands of customers have taken the time to share their positive experiences refinancing with Capital One. Tell us about yourself and your vehicle to see what you could save. There’s no commitment and no impact to your credit score.

Message From Our Editor

What we love about Capital One Auto Refinance

Capital One is a popular lender that focuses on providing financing to people with good, but not excellent credit. That means that you may be able to refinance your auto loan even if you don’t have a perfect credit score. Capital One also makes it easy to see what type of loan you can qualify for with its online pre-approval process, which doesn’t impact your credit score.

Capital One also has strong customer service. You can choose the due date for your monthly bill, letting you place it at the best time of each month for you. You can also get support quickly over the phone or through the Capital One app.

What could Capital One Auto Refinance do better?

One of the drawbacks of a Capital One Auto Refinance is that there are a lot of eligibility requirements. If you want to refinance with Capital One your loan must meet the following requirements.

  • The remaining term of your existing loan must be at least 12 months and more than 99 months
  • New loan terms must be at least 24 months and no more than 72 months
  • Vehicles must be less than seven years old
  • You must owe between $7,500 and $40,000

There are additional requirements, including make and model restrictions and monthly income minimums.

Capital One Auto Refinance’s backstory

Capital One Financial Corporation is a financial company based in Virginia that offers credit cards, auto loans, and banking services to its customers. It began as a credit card company and expanded into auto loans in 1998.

The Verdict

Capital One Auto Refinance can be a great choice if you meet all of the eligibility requirements. You can get pre-approved and see rate estimates without impacting your credit, so there’s little reason not to give it a shot.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

Other Services by Capital One

Availability

  Available in 48 states and Washington, D.C.
  • Alabama
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee
No Prepayment Fee
Credit Score Range 540 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Cosigner
Maximum Vehicle Age 7
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Annual Income $18,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Proof of Insurance
  • Driver License (or other photo ID)
APR (Fixed APR) 4.1% - 24.99%
Loan Amount $7,500 - $50,000

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