Auto Loans and Refinancing FAQ

Top Auto Loan FAQ

1. What types of vehicles does Capital One finance?

   Capital One^® finances new and used cars, light trucks, minivans, and SUVs that will be used for personal use. Vehicles can be up to 7 years old or newer and up to 70,000 miles. Financing is arranged through a Blank Check^® that works like a personal check.

    

   The Blank Check may not be used to buy out an auto lease or purchase the following vehicles: motorcycles, motor homes, RVs, ATVs, boats, amphibious vehicles, taxis, limousines, camper vans, tow trucks, commercial vehicles, vehicles with passenger capacities exceeding 10, vehicles with greater than 1 ton payload capacity, freight liners, tractor trailers, dump trucks, armored vehicles, conversion vans, kit cars, rebodied, junk, branded, or salvaged title vehicles, lemon vehicles, gray market vehicles, vehicles originally manufactured for sale outside of the U.S., or any vehicles that do not have a Vehicle Identification Number (VIN) or title issued to it. We do not finance Oldsmobile, Daewoo, or Isuzu vehicles. We may determine a vehicle to be commercial, based on the model and/or information provided to us.

2. Where may I purchase a vehicle?

   Capital One Auto Finance^® provides financing for new and used vehicles purchased from select franchised dealers listed on our Dealer Locator. 
   
   We do not offer financing for vehicles purchased from independent/used car dealers, auto brokers, private-party sellers, or offer financing for lease buy-outs.

3. Are there any limitations on the dollar amount of your auto loans and refinancing?

   We offer loan amounts from $7,500 and up to $40,000 for new vehicles, $30,000 for used vehicles, and $30,000 for refinanced vehicles. Your actual loan amount will be limited based on the value of the specific vehicle that you are purchasing or refinancing.

    

   • For new vehicles, value is based on invoice price.
   • For used vehicles, value is based on Kelley Blue Book wholesale value or NADA clean trade-in value (depending on your state of residence).

    

   These limitations may vary and will be specified in your loan package as the loan-to-value (LTV) limit. For example, if the value of the vehicle that you are buying is $20,000 and your LTV limit is 110%, your loan amount will be limited to $22,000 ($20,000 x 110%).

    

   For certain vehicles that qualify for a manufacturer rebate, we will reduce the invoice price by the average rebate amount for that specific make/model

    

   If you are refinancing an existing auto loan, you must refinance the full payoff amount of your existing auto loan, and are subject to our minimum and maximum loan amounts. We do not offer cash-back refinancing.

4. What types of documentation may I be asked to provide?

   Documentation requirements vary, but you may be asked to provide some or all of the following information:

    

   • Copy of valid state-issued identification (e.g., driver's license)
   • Proof of income
   • Proof of residence
   • Personal references

    

   The dealership may also be asked to fax in additional documentation at the time of purchase.

5. Why didn't I get the lowest advertised rate?

   There are several factors affecting the rate you may receive, including: (a) your personal credit quality based on your history of repaying various debt obligations, and (b) the depth of your credit history. Advertised rates are offered depending on the individual's excellent and substantial credit and key loan characteristics, including amount, term, vehicle age, and electing the automated payment option.

6. I have decided not to use the Blank Check that I received from you. What should I do?

   You are under no obligation to use your Blank Check or loan package, but you may consider retaining your Capital One documents until you have made your final financing decision so you have the maximum flexibility in choosing the right option for you.

    

   If you decide not to use them, please simply dispose of the documents safely. You do not need to contact us to cancel your loan application or documents.

7. Why was my auto loan application declined?

   There are several reasons why an application may be declined.  A letter about why we were unable to approve you will be sent to you through the mail within 30 days.  Please be aware that phone representatives are not able to access decline reasons.  

    

   The letter will include contact information to obtain a free copy of your credit reports. By reviewing your credit reports, you may be able to learn about your credit standing and understand why we cannot approve you at this time. You may even find errors in your credit report. You have a right under the Fair Credit Report Act to know all of the information contained in your credit file at the reporting agencies. You also have the right to dispute the accuracy or completeness of any information in your credit reports by contacting the consumer reporting agency directly.

8. Will you share my application information with other companies?

   Any information you provide will remain safe, secure, and confidential. Review our privacy policy to learn how we protect your personal information.

    

   In the event that we cannot approve your application for credit, we may share your application information with a trusted lending partner who may be able to assist you with your auto financing needs.

9. How do I check the status of my auto loan application?

   You can check your loan application status online any time. You’ll need your ZIP code and last 4 digits of your Social Security number to access your application information.

    

   You may also check your loan application status by calling our automated system at 1-800-689-1789. Business hours to reach a live customer service representative by phone are Mon–Fri 9 a.m. – 9 p.m. ET and Sat 10 a.m. – 7p.m. ET.

Dealer Instructions

1. Where may I use the Capital One Blank Check?

   Capital One Auto Finance only provides financing for new and used vehicles purchased from select franchised dealers listed on our Dealer Locator. We do not offer financing for vehicles purchased from independent used car dealers, auto brokers or private party sellers.

2. When will the dealer receive payment from Capital One?

   Capital One guarantees payment of the Blank Check within one business day of presentment if all dealer requirements have been met and the proper documents have been verified and submitted. Specific dealer requirements will be listed on the “Dealer Instructions” page of the customer’s Blank Check loan package.

3. What are Capital One's vehicle requirements for Blank Checks?

   Capital One only finances new and used cars, light trucks, minivans and SUVs that will be used for personal use. Vehicles must be 7 years or newer and have less than 70,000 miles. We do not offer financing for commercial vehicles, motorcycles or recreational vehicles. Other ineligible vehicles include: ATVs, amphibious vehicles, armored vehicles, boats, branded/junk/rebodied/salvaged title vehicles, camper vans, conversion vans, dump trucks, freight liners, gray market vehicles, kit cars, lemon vehicles, limousines, motor homes, taxis, tow trucks, tractor trailers, vehicles that do not have a Vehicle Identification Number (VIN) or title issued to it, vehicles with greater than 1 ton payload capacity.

4. What are Capital One's LTV limits for the Blank Check?

   LTV limits can vary and will be specified on the "Dealer Instructions" page of the customer's Blank Check loan package as well as on the Blank Check itself.

5. How does Capital One calculate LTV for Blank Checks?

    For new vehicles, LTV is based on the vehicle’s invoice price. For certain vehicles that qualify for a manufacturer rebate, we will reduce the invoice price by the average rebate amount for that specific make/model. See the customer's Blank Check package insert to see if vehicle will have a rebate reduction. For used vehicles, LTV is based on the Kelley Blue Book wholesale value or NADA trade-in value (depends on the customer's state of residence and will be listed in the customer’s loan package).

6. What does Capital One define as a "new vehicle" for LTV purposes?

   New vehicles are defined as vehicles that have never been titled, are the current or next year's model, and have fewer than 6,000 miles.

7. What dealer documentation does Capital One require before the Blank Check can be deposited?

   Specific dealer documentation requirements will be listed on the "Dealer Instructions" page of the customer's Blank Check loan package.

8. What is your fax number for purposes of submitting dealer documentation for Blank Checks?

   Dealer documents should be faxed to 1-800-390-5145. Please make sure the customer reference number is on the cover page of our faxed documents.

9. What are the Capital One titling requirements for Blank Checks?

   Capital One Auto Finance, Inc. must be listed as the first and only lienholder. Our address for titling purposes is: P.O. Box 255605, Sacramento, CA 95865, 1-800-689-1789, lien filing code 75216377801. Vehicle must be titled in customer's state of residence. Only the borrower(s) listed on the Blank Check may be listed as registered owner(s).

10. Is there a way for dealers to confirm that Capital One has received the required dealer documents prior to depositing the Blank Check?

    Yes. Prior to depositing the Blank Check, visit www.verifycheckonline.com or call us at 1-800-689-1789, Option 8 during business hours.

11. Are there any extended warranty/service contract limits for Blank Checks?

    Extended warranties and service contracts can be financed as long as they fit within the warranty limit, LTV guidelines, and maximum approved amount.

12. Can Gap insurance be included in the loan amount of a Blank Check?

    We do not finance Gap insurance policies or other insurance products as part of our Blank Check program.

13. How can I contact Capital One if I have a question about a Blank Check or dealer documentation requirements?

    Please call us toll-free at 1-800-689-1789, Option 8 during our business hours to speak with a Customer Service Representative so that we can answer any questions.

Managing Your Account

1. How do I access my auto loan online?

   You can access your auto loan online through our convenient Online Banking service. New auto loan customers should wait to enroll in Online Banking until you have received your Welcome Letter in the mail. You will typically receive your Welcome Letter via U.S. Mail within 7- 10 business days of Capital One finalizing your loan. If you have questions or problems receiving your Welcome Letter, please contact us at 1-800-946-0332 during business hours

   (M–F 9 a.m.–9 p.m. EST).

    

   Existing auto loan customers can easily enroll in Online Banking with the information provided on your monthly statements. To enroll in Online Banking, visit www.capitalone.com/autoloans/enroll.

2. How do I link my auto loan account to other Capital One accounts?

   After you have enrolled and logged in to Online Banking, click on "Link Accounts" on the Self Service tab and follow the instructions provided to easily link all of your Capital One accounts.

3. How long does it take for a payment to post to my auto loan account?

   All payments are posted at the close of business on the business day they are received. After your payment has posted, it will be processed and appear on your account the following business day. To get your most recent payment history, view it online by logging in to your account.

    

   Please allow a minimum of seven business days for your payment made by mail to be received.

4. Can I make extra payments?  If so, how will the extra payments be applied to my account balance?

   Yes, you can make payments to your loan at any time. If you pay more than your Total Amount Due from your statement on or before your Payment Due Date, we will apply the extra amount to your next month's payment. This will be reflected in your next month's statement as a reduction in your "Current Amount Due".

5. I had a fee on my account and I tried to pay it last month.  My invoice shows the payment I made was allocated to my next month’s payment instead of the fee. Why?

   Your payment was applied to your next month's payment because your payment was received after your payment due date. Payments received are posted to your account in the following order:

   1. current payment due, including any past due payments, then
   2. any unpaid fees.

   Payments will only be applied to unpaid fees when your payment is received before the due date of the current payment due, or when there is no payment due.
   

6. Can I make a payment online for more or less than my regular payment amount?

   Yes, you can now make a payment online for any amount greater than $1.00.

7. How can I make a one-time payment?

   You can make a one-time online payment by logging in to your account and clicking on the “Pay Now” button next to your auto loan. Next, click the “One-time Payments” button and follow the directions. You will need your bank account information to complete the transaction.

8. How do I set up recurring payments?

   You can set up recurring payments by logging in to your account and clicking the “Pay Now” button next to your auto loan. Next, follow the directions in the Payments screen, and select the frequency type as monthly. You will need your routing and account number to complete the transaction.

9. Can I change my payment due date?

   Yes, your payment due date can be moved up by as many as 15 calendar days. Certain fees and restrictions may apply for this service. Please contact customer service at 1-800-946-0332 to discuss changing your payment due date.

10. Are there any additional fees associated with online payments?

    There are no additional fees for making online payments.

11. Can I make an auto loan payment with my credit or debit card?

    No. Capital One Auto Finance does not accept credit or debit cards for making an auto loan payment.  Western Union and Money Gram do accept credit and debit cards to wire transfer funds to Capital One Auto Finance.

12. Can I payoff my auto loan through Capital One Online Banking?

    Yes, you can pay off your loan through Capital One Banking; however, make sure that you obtain an actual payoff amount through Capital One Banking or by calling our automated system at 800-946-0332 to ensure you are paying the full balance with any fees and/or interest incurred.

13. What is the difference between current balance and “total amount due?”

    The current balance reflects only the principal balance of your loan. Total amount due includes the principal balance, accrued interest and any applicable fees.

14. When will phone or Web payments post to my online account balance?

    All payments received before 5 p.m. eastern time are posted at the close of business on the business day they are received. Payments received after 5 p.m. eastern time, on weekends, or other non-business days such as federal holidays, will post at the close of the next business day. After your payment has posted, it will be processed and appear on your account the following business day.

     

    Example: Payments received on Tuesday before 5 p.m. eastern time will be visible on Wednesday, assuming neither of these days is a federal holiday.

     

    View your most recent payment history online by logging in to your account.

15. Where can I find my payoff balance?

    Your loan payoff balance can be viewed online by logging in to your account. The balance quoted is good for 10 days, to allow ample time for your payoff to be received and posted. Any overpayment will be refunded within 30 days.

16. After I have paid off my loan, when will I get my title?

    The time it takes to receive your title varies. It could take up to 30 days to release your title. However, if you paid your balance with guaranteed funds, such as a bank issued Cashier’s Check, it could be released in as little as seven business days.  Your state’s processing requirements also affect the outcome, as some states process titles electronically, while others do not. Contact your local titling or registration authority to determine its title transfer process.

     

    For more detailed information on your Capital One account, please call Capital One Customer Service at 800-946-0332.

17. I want to sell my car, but I have an outstanding balance. How can I get my title so I can give it to the buyer?

    Capital One Auto Finance only releases a title or its equivalent, when the loan is paid in full.

18. I moved to a different state, how do I get a copy of my title to register my car?

    Refer to your new state of residence for its registration requirements.  If your new state requires a copy of the title in order to register your car, please fax a titling or registration authority form to Capital One at 916-854-5616.

19. If my name has changed, how do I change it on my title?

    Refer to your new state of residence for its registration requirements.  If your new state requires a copy of the title in order to register your car, please fax a titling or registration authority form to Capital One at 866-722-0410.

20. Do I have to continue making payments if I was involved in an accident and my insurance company says my vehicle is a Total Loss?

    Borrowers are responsible for making their monthly payment until the loan is paid in full. If a Total Loss event has occurred, please call Capital One Customer Service at 800-946-0332 and provide us with your complete insurance information, so we can begin working toward a final settlement with your insurance. You will need to provide us with your insurance policy number, date of loss, settlement amount, adjustor name and contact information. You may also have your insurance adjustor contact us on your behalf.

     

    You will be responsible for any balance, if one remains, after your insurance pays the settlement. If you have GAP insurance or other debt protection coverage, Capital One will be able to provide you the information needed to file the necessary claims.

21. I was involved in an accident and my insurance company issued me a check to get my car repaired. The check is made payable to Capital One Auto Finance (or its subsidiaries.) How do I get this check endorsed?

    Endorse the check and send it along with the invoice from the shop you are getting the repairs completed at. Mail the check and the invoice to Capital One Auto Finance, 3905 N. Dallas Parkway, Plano, TX 75093, Attention: Physical Damage Dept. Our support team will endorse the check and overnight it to the shop performing the repairs. If you have any questions, please call 800-946-0322.

22. I receive an error message while attempting to log in with Firefox.

    If you receive the message Your browser is not capable of viewing this site because it does not support JavaScript or JavaScript may be disabled. Please enable JavaScript, you have installed the NoScript FireFox extension and may have inadvertently overridden your default browser security settings.

     

    To allow the Capital One site to be rendered correctly, click the NoScript icon in the system tray. This is the blue 'S' icon with a circle slash through it found on the bottom right hand corner of the screen. This will bring up the NoScript Plug in Menu, select Allow https://servicing.capitalone.com/ or Allow https://onlinebanking.capitalone.com/. Click OK or Apply this will allow all JavaScript content from our site to be rendered correctly. Restart your browser and log in as usual.

23. I was involved in an accident and my insurance company says my vehicle is a Total Loss.  I purchased GAP coverage from the dealer.  How do I file a claim?

    Please refer to your GAP policy for specific information on coverage and how to file a claim. If you can not locate the GAP policy you purchased from the dealer, please contact the dealer directly to obtain a copy.