Capital One limits you to 72 months for both new and used vehicle loans. Shorter maximum repayment terms: Many lenders allow you to repay a loan for up to 84 months.You also can’t use Capital One auto loans to buy vehicle makes no longer in production, such as Oldsmobile or Saab, or to buy motorcycles or RVs. Restrictions on vehicle make, mileage, and year: Capital One has strict requirements for the vehicles it finances, generally limiting buyers to cars less than 10 years old with fewer than 120,000 miles. This can make it harder to compare loan products. Limited disclosure about APRs: Many lenders reveal APR ranges for new, used, and refinance loans, but Capital One does not.However, there may be additional or varied requirements based on the lender selected. Clear about pre-qualification requirements: Before you apply, you can use Capital One's pre-qualification tool without impacting your credit score to get a sense of your potential terms, along with minimum requirements like income (a monthly minimum of at least $1,500).Online shopping tool provides loan and car options: Capital One’s Auto Navigator tool provides multiple dealership options and loan information from other lenders, in addition to Capital One Auto Finance.Capital One does make this available to those hoping to refinance loans from $7,500 to $75,000, as long as your balance isn’t significantly greater than your vehicle’s estimated value. Offers refinancing: Not all lenders offer refinancing of your current loan.But with Capital One the minimum is $4,000, so it's a good option if you're hoping to buy an older, inexpensive used car. Low loan minimum: Some lenders have high loan minimums, such as $7,500.
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