4 Key Steps to Negotiating Your Car Deal
Be prepared and you can save on price, financing, trade-in and warranty.
Use Auto Navigator to pre-qualify for auto financing prior to visiting a participating dealer. We review the information you provide to determine whether you pre-qualify with no impact to your credit score. If you pre-qualify, you will be able to see your monthly payments, APRs and Offer Summaries for vehicles you may be considering. Remember, your pre-qualification amount can only be used for the purchase of one, personal use vehicle. The Offer Summary will include an estimate of the financing terms you could qualify for when you apply for financing at the dealer. When you are ready to finance a vehicle, take your Auto Navigator Offer Summary to a participating dealer to let them know you are pre-qualified for auto financing with Capital One. Remember, you can use your mobile phone to configure vehicles and compare your options at the dealer! If you have recently applied and funded another loan with Capital One Auto Finance, this might impact your eligibility for a new loan with this pre-qualification.
* Monthly payment and Annual Percentage Rate (APR) terms are not final until your financing is completed at a participating dealer. These terms are based on information you provide and might change if you update any information on our website or at the dealer. Terms online are provided based on common monthly increments of 24, 36, 48, 60, 72, 75, and 84; however, other terms may be available at the dealership when purchasing the vehicle. Not all consumers qualify for these terms.
Pre-qualification does not guarantee that you will receive financing or any particular financing terms, which are subject to change based on our evaluation of your credit application submitted at the dealer and any required documents. Your Capital One offer expires 30 days from the date your request for pre-qualification is received. All other financing offers are subject to the terms of the offering party.
To pre-qualify, you must be at least 18 years old, have a valid street address within the contiguous United States or an APO/FPO address. Minimum monthly income required is $1,500 or $1,800, depending on your credit qualifications. Any existing Capital One accounts must be in good standing (not over limit, past due, or delinquent).
When you visit a participating dealer, show them your Auto Navigator Offer Summary for the vehicle you would like to finance or check-in using your pre-qualification. Check-in will allow that dealer to access your pre-qualified terms and preferences, including cars you saved at that dealership (check-in is not available at all dealerships and is not a mandatory step). Then you will fill out a credit application and provide any information needed for review to complete your financing. A credit application at the dealer will result in one or more inquiries posted to your credit file. After negotiating purchase terms and receiving dealer credit approval, you will sign a contract with the dealer reflecting both your purchase and financing terms. Your purchase will result in a retail installment contract with the dealer as the original creditor. See our FAQs for more information.
For new and used vehicles, the minimum Amount Financed is $4,000. Your maximum Amount Financed may be based on income, key credit characteristics, the vehicle you are purchasing, the details of the financing deal, and/or the specific dealership from which you purchase the vehicle. The Amount Financed may include the vehicle sales price, tax, title, licensing fees, dealer fees, and any optional products like service contract and/or extended warranty that you choose to purchase from the dealer.
Due to requirements under the Military Lending Act, auto financing for certain members of the Armed Forces and their dependents cannot include GAP, Credit-Life, or Accident & Health Insurance, and other similar products.
APR is the Annual Percentage Rate. Advertised rates depend on the individual's credit and key financing characteristics, including but not limited to the Amount Financed, term, loan-to-value (LTV) ratio, down payment amount, and vehicle characteristics. A representative example of payment terms is as follows: a $1,000 down payment, an Amount Financed of $21,000 with an APR of 10.00% and a term of 72 months would have a monthly payment of $389.04. Down Payment is required in some situations to complete purchase. APRs shown are current as of October 9, 2019. Advertised and estimated rates are subject to change without notice.
Representative APR is based on the individual's credit and key financing characteristics, including but not limited to the amount financed, term, the loan-to-value (LTV) ratio, and vehicle mileage. Your actual APR will be based on your specific situation.
Capital One Auto Finance provides financing for new and used vehicles purchased from participating dealers listed on our Dealer Locator. Participating dealers are subject to change. We do not offer financing for vehicles purchased from non-participating dealers, auto brokers, or private party sellers. We do not offer financing for lease buyouts.
Auto Navigator terms can only be used at participating dealer locations in connection with the purchase of a new or used car, light truck, minivan, or SUV intended for personal use. We do not finance certain vehicle makes including but not limited to, Oldsmobile, Daewoo, Saab, Suzuki or Isuzu vehicles. We do not offer financing for commercial vehicles, motorcycles, recreational vehicles (RVs), ATVs, boats, camper vans, motor homes, vehicles with a history of chronic malfunctions and/or manufacturer or dealer buy back (alternatively referred to as a lemon) 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.
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Auto Navigator may not display all vehicles available at participating dealers. If a dealer's advertised inventory is not available in Auto Navigator, your Capital One pre-qualification may still be used at any participating dealer. Inventory availability is subject to change without notice.
Capital One uses third party information, otherwise available, to enhance your auto financing experience. Third party information includes, but is not limited to, trade-in values, car images, dealer reported mileage, fuel economy, dealer advertised price and car details, and car history reports. Please note that third parties provide this information and Capital One does not make any express or implied representations or warranties with respect to the accuracy of the third party information. You should verify the accuracy of any third party information on your own. All trademarks are the property of their respective owners.
Vehicle images may not be representative of the dealer advertised vehicle. Cars are subject to prior sale and availability should be confirmed with the dealer. Dealer advertised prices are subject to change without notice.
Dealer advertised prices may be negotiable and may not include tax, title, license, and other fees charged by the dealer. Other fees may include, but are not limited to, document fees, dealer preparation fees, and delivery charges. You should verify with the dealer what is included in the dealer advertised price. We provide a historical estimate of tax, title, and license fees to show you how they impact your financing terms.
Any available car history reports are provided by CarFax®. You can visit the CarFax® website for additional information on their services. Trade-in valuations are powered by Kelley Blue Book® data to provide estimates of what you may be able to receive from the dealer by trading in your car. Kelley Blue Book® Price Advisor is also powered by Kelley Blue Book® data to provide you with information on what other customers have paid for like cars in your area. Kelley Blue Book® valuation methods are not determined or maintained by Capital One. You can visit the Kelley Blue Book® website for additional information on their services. Third party websites, such as Kelley Blue Book® and CarFax®, are not maintained by Capital One.
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