Customers can apply for a Capital One auto loan online by using the Auto Navigator tool at the company's website. The Auto Navigator tool can be accessed from the Capital One home page by selecting the "New and Used Auto Financing" link from the drop-down menu, which appears at the "Loans" tab on the navigation bar. The Auto Navigator process allows applicants to obtain an online auto financing decision and offer before going to an eligible dealer, as described on the Capital One website.
The Capital One Auto Navigator online application requires personal and income information that includes employment status, name of employer, length of time at employer and annual gross income. Applicants are advised by Capital One that obtaining an approval does not eliminate the need to complete an additional application at their chosen dealership. The dealer's application is needed so that the buyer can be informed in writing of the legally required auto sale disclosures that are part of the final purchase process. A dealership contract will also need to be signed so that the buyer can be made aware of all of the financing and purchase terms.
The total amount that Capital One will finance towards a new or used vehicle purchase depends upon the applicant's credit history, and the maximum amount that can be financed is $40,000, as stated on the company's website. As of 2015, the vehicle being financed must be no older than a 2006 model, have less than 100,000 miles and be intended solely for personal use.