Capital One Auto Refinance

• Pre-Qualification: Submit an application to see if you pre-qualify to refinance your current auto loan with no impact to your credit score.
• Credit Application: Select the offer that you want and complete your credit application. This will result in an inquiry posted to your consumer credit report.
• Finalize: Provide your VIN, E-Sign your contract, enter you current lender details, and if needed, send in any supporting documents.

Basic requirements to qualify for our refinancing program include the following:

• Vehicles must be 7 years old or newer
• Payoff amount of your current auto loan must be between $7,500 and $50,000. Your maximum loan amount may be based on your income, key credit characteristics, and the vehicle you are refinancing.
• Your current loan must not be serviced by Capital One Auto Finance
• Your current lender must be an FDIC or NCUA insured financial institution. Most banks, credit unions, and larger auto finance companies meet this requirement.
• You must be up to date on payments for both your existing loan and if applicable, your mortgage loan
• Capital One® finances new and used cars, light trucks, minivans, and SUVs that will be used for personal use

Capital One does not refinance Oldsmobile, Daewoo, Saab, Suzuki or Isuzu vehicles, commercial vehicles, motorcycles, recreational vehicles (RVs), ATVs, boats, camper vans, motor homes, lemon vehicles, branded title vehicles, lease buyouts or vehicles without a Vehicle Identification Number (VIN) or title issued. We may determine a vehicle to be commercial or otherwise ineligible based on the model and/or information provided to us.

We review the application to refinance your auto loan to determine whether you pre-qualify with no impact to your credit score. If you pre-qualify, you will be able to see your estimated monthly payments, term and APRs.

No, there is no impact to your credit score to see if you pre-qualify.

Depending on the value of your vehicle and the payoff amount, you may be required to put cash down on your auto loan with your current lender prior to financing with Capital One.

Capital One does not charge an application fee. However, each state imposes a title transfer fee that can vary depending on the state in which you reside. This fee is charged by your state, not Capital One. We will pay this fee on your behalf and add it to your final loan amount.

Capital One does not charge any prepayment fees. You may pay off either a portion of your loan or the entire amount at any time without incurring any fees or penalties.

You will typically receive a decision within 24 hours.

No, Capital One only refinances auto loans that you have with other lenders, not including Capital One or its subsidiaries.

Capital One takes your security and privacy very seriously. Our site uses Secure Sockets Layer (SSL) encryption for all customer data and has been authenticated by VeriSign.

Our application page will display the VeriSign Secure Site logo, indicating that the information you enter will be transmitted securely. Review our Privacy Policy to learn more about how we protect your personal information.

We will only pay off your existing auto loan and will not finance new GAP coverage to cover any cancelled coverage due to refinancing. To determine if your GAP policy terminates upon refinancing, consult your GAP agreement or contact your GAP provider.

Our team is ready to answer any questions you have about Auto Refinance. Call 1.888.263.4582 to speak with one of our customer support specialists over the phone.

Hours of Operation:

MON-FRI 9 AM – 9 PM ET

SAT 10 AM – 7 PM ET

If you pre-qualify, Capital One will show you an offer(s) that will detail a new term, monthly payment, and APR.

Your pre-qualification expires 30 days from the date your pre-qualification application is received. You may use your pre-qualification on the expiration date, but not on any day thereafter. After pre-qualification, when you submit your credit application, you will have at least 15 days to provide any required information or documents and sign your contract. If your offer expires before you are ready to refinance your vehicle, please re-submit a pre-qualification application to check your eligibility for a new offer.

Extending the term of the loan may increase the total amount paid when compared to your current situation. The estimated total paid over the life loan assumes payments are made on time and no fees are incurred during the life of the loan.

If you decide to move forward with an offer, you will submit the credit application which will result in an inquiry posted to your consumer credit report and may impact your credit score.

The offer(s) presented to you are estimated based on the information that you provided. Upon verification of the information entered in your application, your offer may be subject to change.

Our team is ready to answer any questions you have about Auto Refinance. Call 1.888.263.4582 to speak with one of our customer support specialists over the phone.

Hours of Operation:

MON-FRI 9 AM – 9 PM ET

SAT 10 AM – 7 PM ET

If you decide to move forward with an offer, you will submit the credit application which will result in an inquiry posted to your consumer credit report and may impact your credit score.

You will receive an email within one business day of being approved with instructions to securely download and print your refinance loan package from your computer. If you prefer not to download the refinance loan forms, you can simply call us at 1-888-263-4582 to request a paper copy of the contract to be sent to you.

A Welcome Packet will arrive to you in the mail 7 – 10 business days after Capital One issues the payoff check to your previous lienholder. The Welcome Packet will include information on your new account number, your monthly payment, first payment due date, and your term. The Welcome Packet will also include how to set up your online account and some follow up steps in completing your title work.

If you signed a paper copy of your contract, do not cross-out the mistake or use correction fluid as this will invalidate the contract. If the paper contract is correct and you are able to re-print another copy, you can print out a new copy to speed up the process! If you make a mistake filling out the contract and are unable to print out a new copy, feel free to call us at 1-888-263-4582 to request a new copy to be sent to you. If any pre-printed information is incorrect, please call us at 1-888-263-4582 during business hours to correct those mistakes and/or request that a new paper copy be sent.

If you signed an electronic copy of your contract, contact us at 1-888-263-4582. We will make the change on your behalf and send you a new contract to E-Sign.

Documentation requirements vary, but you may be asked to provide some or all of the information listed below. Our primary reasons for requiring documentation from you is to verify information and to help protect your security and privacy.

• Proof of Income
• Proof of Residence
• Proof of Employment
• Proof of Insurance
• Vehicle Title
• Limited Power of Attorney to Modify Vehicle Title

To avoid processing delays, please be sure to include your reference number when sending documentation to us.

Signing the refinance contract obligates you to ensure Capital One Auto Finance is listed as the only lienholder on your vehicle title. The form you may need to fill out varies based on your state. View the documentation requirements to understand which form you will need to complete.

You will need to send us your vehicle title if you reside in one of the following states: KY, MD, MI, MN, MO, MT, NY, OK and WI. In all other states we will obtain the title directly from the state agency which holds your vehicle title.

If all your documents are complete and accurate, it should take 7–10 business days to complete your loan and issue the funds to your previous lienholder.

Your previous lienholder may take additional time to apply the funds and payoff your loan. If this occurs, you may have to make multiple payments in one billing period until this is resolved with your previous lienholder.

If documents are incomplete or inaccurate, we will contact you and additional time will be needed to process your loan.

Yes. You must continue paying your previous lienholder until your account shows a zero balance. Not making your payment to your previous lienholder before our payoff check is processed by them may result in your account being past due. A past due account may delay the refinance process.

You should receive a refund check from your previous lienholder. If you have any concerns, please contact them as Capital One does not issue any refunds on their behalf.

You can enroll in Online Banking as soon as you've received your Welcome Packet. If you are a new customer, you must first enroll in Online Banking. Click here for online access to your account, set up automatic payments, manage your account and more.

When completing the pre-qualification application you will have the option to select you preferred payment due date. Your actual payment due date may differ from your selection based on federal and state laws. The due date of your monthly payment, including the date your first payment is due, will be specified in your Welcome Packet.

You can check the status of your application or any documentation requests online by logging into your account. You will need to enter your last name, ZIP code and the last 4 digits of your Social Security number to do so.

You may also check your application status by reaching a Customer Service Representative, available by phone at 1-888-263-4582 during our business hours which are Mon-Fri 9 a.m. – 9 p.m. ET and Sat 10 a.m. – 7 p.m. ET.

You can verify that we have received your documents by reaching a Customer Service Representative, available by phone at 1-888-263-4582 during our business hours which are Mon-Fri 9 a.m. – 9 p.m. ET and Sat 10 a.m. – 7 p.m. ET.

You have the option of using our online tool to securely upload, or fax to 1-800-390-5145.

What is needed?

Please provide one of the following documents, listing both your name and home address, in order to verify your residence: your utility bill (dated within the last 60 days); your mortgage statement (dated within the last 60 days); or your current lease agreement (signed by both you and your landlord and dated within the last year). Please call 1.888.263.4582 if you do not have any of these documents available.

Why is it needed?

In processing your application, we discovered the address on your application does not match the address listed in one or more of the credit reports that we used.

In order to verify that the address on your application is your correct and current address, we are requiring that you provide proof of your residence.

If you submitted an application to refinance your auto loan with Capital One and this is simply a case of your address being incorrect on your credit report, you may want to inform the credit bureaus below of your correct address:

Experian P.O. Box 2022 Allen TX 75013-0036 (888) 397-3742

Equifax P.O. Box 740241 Atlanta GA 30374-0241 (800) 685-1111

TransUnion 2 Baldwin Place P.O. Box 1000 Chester PA 19022 (800) 888-4213

W-2 Employees: Applicants must provide a copy of their most recent pay stub. The pay stub must be computer-generated, include year-to-date earnings and taxes withheld, contain no alterations, and must have been issued within 45 days of the faxed date. The applicant must have been employed for at least 90-days to include overtime, commission, and bonuses. From January 1 through April 15 each year, a W-2 or yearend pay stub from the prior year (in addition to the most recent pay stub) is necessary to include income other than base salary.

W-2 Employees with Handwritten Pay Stubs: Applicants who receive non-computer-generated pay stubs must submit a signed and dated letter from their employer on company letterhead stating the applicant's name, date of hire, year-to-date income, pay frequency, and taxes withheld. In addition, we must receive either (1) copies of their three most recent complete bank statements reflecting consistent, consecutive deposit amounts, or (2) copies of their three most recent concurrent cashed handwritten paychecks.

1099 Employees: Applicants must be employed with their current employer for at least 90 days, provide copies of their three most recent personal bank statements showing all transactions and reflecting consistent, consecutive deposits that indicate source and amounts, as well as a verifiable HR phone number. We cannot accept transfers from another bank account for income verification. We may not be able to verify full income if there are additional names listed on the bank statements who are not also included on the auto finance application. Please note: in order for 1099 income to be considered, 'self-employed/1099' must have been selected as the 'employment status' on the original application.

Self-Employed: Applicants must be self-employed for at least two years, and provide copies of their three most recent personal bank statements showing all transactions and reflecting consistent, consecutive deposits that indicate source and amounts. We cannot accept transfers from another bank account for income verification. We may not be able to verify full income if there are additional names listed on the bank statements who are not also included on the auto finance application. Please note: in order for self-employment income to be considered, 'self-employed/1099' must have been selected as the 'employment status' on the original application.

New W-2 Employment Income: Applicants who have not received their first pay stub must submit a letter of employment or offer-letter signed and dated on company letterhead stating the applicant's name, start date, base pay, and a verifiable HR phone number. The applicant must have already started their new job. We will not accept a pay stub from a previous employer.

Second Job: Income from a second job will be considered if the applicant has been employed at both jobs a minimum of six months. If not employed at both jobs for at least 6 months, than one job with the most income will be considered (see “W-2 Employees” section above).

Tip Income: In order for tip income to be considered, it must be included in the applicant's taxable earnings listed on their pay stub (see “W-2 Employees” section above).

Temporary Workers: Employees of temporary staffing agencies must be on a full time assignment and provide a copy of their most recent pay stub showing a minimum of 90 consecutive days of income and taxes withheld along with valid contact information for the staffing agency. We will not accept a pay stub from a previous employer.

Military Income: In order for military income to be accepted the applicant must submit a copy of a most recent Leave and Earnings Statement (LES) showing year-to-date income. A 90-day history is required to include income beyond base pay, BAH, and BAS. From January 1 through April 30, a W-2 or year end LES from the prior year (in addition to the most recent LES) is necessary to include additional income.

Seasonal Income: Applicants must be currently and actively employed. They must be a W-2 employee with a minimum of 2 years with their seasonal employer. Applicants must provide their previous two years' W-2's, and their most recent pay stub. The pay stub must be computer-generated, include year-to-date earnings and taxes withheld, contain no alterations, and must have been issued within 45 days of the faxed date.

Child Support / Alimony / Foster Care: In order for child support/ alimony to be accepted, the applicant must either submit a ledger or payment summary from the state showing the last three months of payments or a copy of the signed and dated court order, which clearly states the dollar amount to be paid along with either the three most recent child support/alimony pay stubs, or three most recent months' bank statements showing the deposits. The most recent payment received must be no more than 45 days old. Only the pages of the court order that contain the applicant's name, amount to be paid, judge's signature and date are required.

Social Security Benefit / Permanent Disability / Pension: In order for Social Security benefits, permanent disability, or pension income to be accepted, the applicant must submit either (1) a copy of their dated benefit letter (no older than one year from the faxed date) with the applicant's name or Social Security number, and benefit amount or (2) their most recent bank statement that shows the direct deposit(s) indicating source and amount. Applicants who receive Social Security income or other benefit compensation on behalf of another person must submit a benefit letter with the same criteria showing the amount is payable to them on behalf of that person.

Workman's Compensation: In order for Workman's Compensation to be accepted the applicant must submit a copy of their dated benefit letter (no older than one year from the faxed date) with the applicant's name or Social Security number, and benefit amount. Disability must be permanent or partial-permanent.

IRA / 401K / Retirement: In order for IRA, 401K, or other retirement income to be accepted the applicant must submit either (1) their previous year's tax form 1099-R, (2) a copy of their dated benefit letter (no older than one year from the faxed date) with the applicant's name or Social Security number, and benefit amount, or (3) their most recent bank statement that shows the direct deposit(s) indicating source and amount.

Annuity / Trust Fund: In order for income from an Annuity or a Trust Fund to be accepted, the applicant must submit either (1) a copy of a benefit letter (dated within one year of the faxed date) naming them as the beneficiary, and including the source, amount, and term, or (2) three most recent personal bank statements reflecting consistent, consecutive deposits that indicate source and amounts.

Union Workers: Salaried union workers who work multiple jobs during the course of the year must submit valid contact information for the union along with either (1) copies of all current-year pay stubs to establish total year-to-date earnings, (2) their most recent pay stub along with a letter from Union Local on letterhead that states the applicant's name, membership date, and year-to-date earnings, or (3) all previous year W2’s for income verification (between January 1 and April 15 only).

Income Paid in Foreign Currency: Applicant must provide their three most recent personal bank statements reflecting consistent, consecutive deposits that indicate source and amounts showing the income is being deposited into a U.S. bank and converted to U.S. dollars. A copy of the pay stub in foreign currency is not accepted.

Office of Family Assistance (OFA): In order for OFA income to be accepted the applicant must submit written documentation from the appropriate state office showing the amount and identification of the beneficiary.

Rental Income: Rental income is considered self-employed income (see above requirements). Two years worth of tax returns plus all schedules are required to verify this income.

Lottery Winnings: Lottery winnings will be considered if the applicant receives regular payments. The applicant must provide documentation from the State Lottery Board showing the applicant's name, payment amount, and pay frequency. A one-time lump sum payment will not be considered as income.

Grants & Financial Aid: Grants and/or financial aid income is not accepted.

Capital Gains and Dividends: Capital gains, dividends, and/or any other income reported on a tax form 1099-DIV at yearend is not accepted.

If you did not submit an application with us and think that someone else may have improperly used your identity to apply, please call us at 1-888-263-4582.

Identity theft is a serious national problem. If you think you have been the victim of identity theft, we recommend taking one or more of the following steps immediately:

Contact the credit bureaus at the numbers referenced above to check for errors on your credit bureau report. File a police report. You may want to seek the advice of an attorney. Visit www.consumer.gov/idtheft, the Federal Trade Commission's Web site on identity theft.

Our team is ready to answer any questions you have about Auto Refinance. Call 1.888.263.4582 to speak with one of our customer support specialists over the phone.

Hours of Operation:

MON-FRI 9 AM – 9 PM ET

SAT 10 AM – 7 PM ET