However, Capital One states that financing may be available for vehicles model year 2009 or newer and with 150,000 miles.Ī Capital One auto loan might be for you if you have a nonprime (between 601 and 660) or subprime (between 501 and 600) credit score. Used vehicles must be model year 2011 or newer and have less than 120,000 miles.A minimum income between $1,500 and $1,800 a month, depending on credit.Loan terms range from 24 to 84 months and loans are available in the contiguous 48 states. Information on dealers that work with this lender is available on Capital One's website, and is worth checking out in advance if you want to work with a certain dealership or find a specific vehicle. While this lender does have a wide array of dealers available, there's no option for other financing for private party purchases, and this could limit your ability to purchase from some independent dealerships. How Capital One auto loans workĬapital One auto loans are only available at certain dealerships.
However, keep in mind that you do have to make a purchase through a dealership that works with Capital One to use this lender. With this lender, people with low credit scores could get a good deal, as long as the required minimum credit score of 500 is met.įor people with an eye on an affordable used car, Capital One's low minimum financing amount of $4,000 could make it easier to find a car that fits your budget and financing options - many other lenders have higher minimum loan requirements. Minimal information about rates or fees until you applyĬapital One offers a small range of auto loan interest rates, and rates start relatively low.Loans have to be made through an authorized dealer.
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