Top 10 Auto Loan FAQs

Contact Capital One Auto Finance

Do you have any questions or need more information? Please contact us. We're always happy to help you.


1.	What types of vehicles does Capital One finance?
2.	Where may I purchase a vehicle?
3.	Are there any limitations on the dollar amount of your auto loans?
4.	What types of documentation may I be asked to provide?
5.	Why didn't I get the lowest advertised rate?
6.	I have decided not to use the Blank Check or loan package that I received from you. What should I do?
7.	Why was my auto loan application declined?
8.	Will you share my application information with other companies?
9.	How do I check the status of my auto loan application?

1.	What types of vehicles does Capital One finance?

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 finance Oldsmobile, Daewoo, 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/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.

2.	Where may I purchase a vehicle?

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.

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

Yes. 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. If you are refinancing an existing auto loan, you must refinance the full payoff amount of your existing auto loan 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

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 selecting the automated payment option.

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

You are under no obligation to use your Blank Check or loan package. You may consider retaining your Capital One documents until you have made your final financing decision to give yourself the maximum flexibility in choosing the right option for you. If you decide to not 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. Capital One is not able to give out that information to you over the phone, however a letter of explanation will be sent to you stating the reason for your declined application. 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?

Click here to check your loan application status online. You will 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 at any time by calling our automated system at 1-800-689-1789. You can also reach a live customer service representative by calling 1-800-689-1789 during business hours (M-F 9am-9pm EST, Sat 10am-7pm EST).