What exactly is Capital One Auto Navigator?

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How does it work ?

Pre-qualification for Vehicle Finance:

Submitting a request to pre-qualify for auto financing prior to visiting a participating dealer will allow for a review to determine whether you pre-qualify. But don’t worry, it won’t have any effect on your credit score. You will be able to view your monthly payments, APRs, and offers on automobiles you are interested in if you pre-qualify.

Finding Your Automobile:

Auto Navigator searches and saves your favorites from participating dealers’ listed inventory to help you locate the car that fits best for your budget and lifestyle. And, while we cannot promise that participating dealers will show all of the vehicles they have for sale, you may still use your pre-qualification at any participating dealer. Remember that your pre-qualification can only be used to purchase one personal-use car. The availability of inventory is subject to change without notice.

Customizing Your Offer:

Change things like your down payment, term length, and other details to create the offer that’s suitable for you. Remember that you may use your mobile phone to set up pre-qualified financing for automobiles you’re interested in and compare your choices at the dealer.

Buying from a Participating Dealer:

Show your Auto Navigator pre-qualification offer for the vehicle you want to finance when you visit a participating dealer. Before visiting the dealer, you can use the ‘Check Availability’ button to provide the dealer with your most up-to-date personal, contact, residence, income, and employment information, as well as your proposed financing terms, pre-qualification status, information about the vehicle you may be interested in financing, and saved cars at that dealer (this feature is not available for all dealers and is not a required step). If you want to do so, you will also provide the dealer with your chosen means of communication so that the dealer may contact you to discuss the next steps. When you arrive to the dealership, you will be able to test drive the vehicle, as well as fill out a credit application and give any information required for inspection in order to finalize your financing. When you apply for credit at the dealership, one or more queries will be added to your credit file. You will sign a contract with the dealer after negotiating purchase terms and getting dealer credit clearance. This document will include both your buy and financing conditions. Your purchase will result in a retail installment contract with the first creditor being the dealer.

Restrictions on Capital One Auto Finance and Important Information

Age, state, and income restrictions for customers:

You must be at least 18 years old and have a valid street address in the contiguous United States to qualify. A genuine APO/FPO address is also acceptable. Residents of Alaska and Hawaii are not eligible for Auto Navigator, and Post Office Box addresses cannot be used as the address on your pre-qualification request. The necessary minimum monthly income is $1,500 or $1,800, depending on your credit requirements. In addition, any current Capital One accounts must be in good standing (meaning not over limit, past due, or delinquent).

Offers of Pre-qualification:

Pre-qualification does not guarantee that you will receive financing or any specific financing terms, which are subject to change based on Capital One’s evaluation of your credit application submitted at the dealer and any required documents, and may vary depending on the dealership selling the vehicle(s) you want to finance. Your Capital One pre-qualification will expire 30 days after we receive your request for pre-qualification. If you have recently applied for and financed another loan with Capital One Auto Finance, you may be ineligible for a new loan using your Capital One Auto Finance pre-qualification. Any other financing offers are subject to the providing party’s conditions.

APR1 stands for Annual Percentage Rate. Pre-qualified financing terms are determined by an individual’s credit and key financing characteristics, such as the amount financed, term, loan-to-value (LTV) ratio, down payment amount, and vehicle characteristics, and may differ depending on the dealership selling the vehicle(s) you are interested in financing. Here’s an example of a payment schedule: A $1,000 down payment, a loan amount of$27,000, an APR of10%, and a period of 72 months would result in a monthly payment of $500.20. The advertised APRs are valid as of March 3, 2020. In certain cases, a down payment, rebate, or trade-in is required to complete the transaction. Rates and terms of advertised and pre-qualified loans are subject to change without notice. Your real APR will be determined by your unique scenario.

Restrictions on Vehicle Type2:

Your Capital One pre-qualification may only be utilized at participating dealers, but don’t worry, there are many to select from. Here’s what you’ll need to finance a car:

A new or used personal vehicle such as a car, light truck, minivan, or SUV.

The car must have fewer than 120,000 miles on it and be from the previous ten years.

In rare cases, an earlier model year or a vehicle with a higher mileage (up to 150,000 miles) may be eligible.

Capital One Auto Finance does not finance specific vehicle brands such as Oldsmobile, Daewoo, Saab, Suzuki, or Isuzu. 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 (also known as a lemon), branded title vehicles, or vehicles without a Vehicle Identification Number (VIN) or title issued are not eligible for financing. Based on the modeland/or information supplied to us, we may conclude that a vehicle is commercial or otherwise ineligible.

Financed Amount Restrictions:

The minimum amount financed for new and used cars is $4,000. Your income, important credit traits, the car you’re purchasing, the exact dealership you’re purchasing the vehicle from, and/or the terms of the financing arrangement, such as whether you trade in a vehicle, all influence the amount you’re pre-qualified for. This amount is also subject to verification of the personal income listed on your pre-qualification request. The amount financed may include the dealer quoted price, tax, title, licensing fees, dealer fees, and any optional goods you choose to purchase from the dealer, such as a service contract and/or an extended warranty. Capital One Auto Finance may not finance all optional products sold by a participating dealer.

Participating Dealer Requirements:

Capital One Auto Finance offers financing for new and used automobiles purchased from Auto Navigator-listed participating dealers. Dealers who participate are subject to change. We also do not finance automobiles acquired from non-participating dealers, auto brokers, or third party sellers.

Restrictions on Participating Lenders

Participating Lender Eligibility:

Eligibility for car finance pre-qualification from participating lenders is decided by the information you supplied, as well as the personal credit profile acquired by Capital One through your Auto Navigator pre-qualification request from credit reporting agencies.

You may be ineligible to submit a request for pre-qualification to participating lenders; thus, if you are ineligible, you will not see the opportunity to do so.

Participating lenders may impose additional eligibility requirements, such as being at least 18 years old, residing in the contiguous United States, meeting minimum income requirements, and purchasing a vehicle for personal use that meets their specified year, make, model, and/or mileage restrictions.

Offers of Pre-qualification:

Pre-qualification does not guarantee that you will receive financing or any specific financing terms, which are subject to change based on the participating lender’s evaluation of your credit application submitted at the dealer and any required documents, and may vary depending on the dealership selling the vehicle(s) you want to finance. Your pre-qualification will expire according to the lender’s terms, which may differ from Capital One’s. If you pre-qualified for vehicle finance with a participating lender and don’t see it when you log in to your Auto Navigator account, you may view it at the website where you filed your pre-qualification request.

Others participating lenders may have qualifying restrictions for membership, and some may pay Capital One if you finance with them.

Participating Dealer Requirements:

Participating lenders finance new and used vehicles purchased from participating dealers, which are subject to change and may differ per participating lender.

Product Terms and Disclosures for Auto Navigator

Pre-qualified Auto Financing Terms: Your pre-qualified vehicle loan terms, including monthly payment and Annual Percentage Rate (APR), are not final until you finalize your finance at a participating dealer with the lender providing auto financing. These pre-qualified vehicle finance options are based on the information you give and are subject to change if you alter any information on the Auto Navigator website, with a participating lender, or at the dealer. Capital One and associated lenders provide no assurance that the dealer will honor all of the provisions of your pre-qualification offer. Terms are presented online in typical monthly increments, however alternative terms may be available at the dealership when the vehicle is purchased. However, not everyone is eligible for each of these term durations.

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