Capital One Auto Finance® is pleased to offer an automated payment method for your auto loan. With the Automated Payment Option, your monthly loan payment to Capital One Auto Finance will be automatically deducted from your designated checking or savings account on the day of the month you choose (1st–28th).
Why choose the Automated Payment Option?
It's the No Hassle way to pay. No more worrying about how you'll make your payment, even if you're on vacation or out of town. No more lost statements, no more writing checks, and no more worrying about how long the mail will take. Your payment will always be on time.
But best of all, when you choose the Automated Payment Option, you may be eligible to receive a lower Annual Percentage Rate (APR), which is up to 1/2 of a percentage point (0.50%) lower than if you paid by the Invoice (mail-in) Option. This benefit is already reflected in our rates you see online. Capital One is able to offer a lower interest rate with the Automated Payment Option because it is less costly for us to process this type of payment — and we pass the savings on to you. If you select the Invoice Option, your rate may be up to 1/2 of a percentage point (0.50%) higher.
To be eligible to receive the lower rate, simply select the Automated Payment Option in the Billing Choice section of your loan application, and your APR will automatically be reduced.
How to get started making automated payments
After you purchase your vehicle with your Blank Check®, simply go to www.capitalone.com/autoloans/enroll to enroll and log in to our secure online Account Servicing areas. Once enrolled, you can quickly setup automated payments from your bank and take advantage of additional features offered by our Online Banking system. If you prefer to mail your request, you can download an Automated Payment Authorization form. Both the online and paper forms provide us with the banking information necessary to have your monthly loan payments automatically deducted from your designated checking or savings account.
Canceling automated payments
You may terminate the Automated Payment Option at any time. However, please note: Upon such a termination, if you qualified for the reduced interest rate with the automated payment plan, terminating that option will result in up to a 1/2 of one percentage point (0.50%) increase in the APR on your loan.*