Q:

What are the advantages of pre-approval through Capital One auto finance?

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Quick Answer

The advantages of pre-approval through Capital One auto finance are that an individual knows his buying power before shopping, has a fixed finance rate as low as 1.99 percent and has the advantage of knowing the estimated monthly payment before speaking with a dealer, according to Capital One. Additionally, Capital One has a network of over 12,000 dealers, giving customers a large number of brand and style options to choose from.

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Full Answer

Choosing to refinance an auto loan with Capital One allows individuals to lower monthly payments, states Capital One. As of 2015, customers lower payments by approximately $737, on average, by choosing to refinance. A simple process allows customers to determine if they can lower their car payments with this service.

Simple to use online tools such as a dealer locator,and auto loan calculator are available on the direct website of Capital One, according to the company's website. Additionally, customers can set up recurring payments with a routing and account number, making the payment process hassle-free. The payment due date may also be moved by up to 15 days, and additional or extra payments can be made. When a person pays more than the monthly payment, the excess is applied to the balance on the vehicle.

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