Used Car Loan Disclosures

Important Disclosures and Requirements

APR is the Annual Percentage Rate. Rates quoted are offered depending on the individual's excellent and substantial credit and key loan characteristics, including but not limited to amount, term, vehicle characteristics, and selecting the Automated Payment Option in the Billing Choice section of your loan application. A representative example of payment terms are as follows: a loan amount of $20,000 with an APR of 7.50% and a term of 60 months, would have a monthly payment of $400.76 with no down-payment required. Advertised rates are subject to change without notice.

Vehicle Type Restrictions
Capital One Auto Finance only finances new and used cars, light trucks, minivans and SUVs that will be used for personal use. We do not finance Oldsmobile, Daewoo, Saab, Suzuki or Isuzu vehicles. 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, rebodied, 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.

Loan Amount Restrictions
Minimum loan amount is $7,500. You may apply for a loan amount of up to $40,000 for new vehicles, $30,000 for used vehicles and $30,000 for refinance loans. 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 trade-in value (depending on your state of residence). The amount of this limitation may vary and will be specified in your loan package as the "LTV" (loan-to-value) limit. For example, if the value of the vehicle that you are buying is $20,000 and your LTV limit is 110%, then your loan amount will be limited to $20,000 x 110% = $22,000.