Auto Financing through Capital One Auto Navigator

Capital One Auto Navigator helps you prequalify for auto financing even before you visit the participating dealer. The idea is to provide your unique information and get your information reviewed, to determine whether you prequalify for an auto finance or not.

The best part is that it does not impact your credit score in any way. It’s like checking your credit online, which does not affect your creditworthiness in any way.

In case you pre-qualify, you will be able to see your monthly payments, APRs and offer summaries for vehicles you might be considering. Your prequalified amount can be used for a personal use vehicle only.

Steps to use Auto Navigator:

Apply for prequalification

Applying for prequalification helps you know where you stand, even before going to the dealer. With the information provided by you, Capital One performs a soft credit inquiry on you without impacting your credit score. They let you know the expected payment terms and annual interest rates, based on the unique information given by you.

Also, there is no obligation to auto finance from Capital One only, you are not bound by anyway. It is an inquiry only, and not a real-time application. You are a well-informed buyer now and you have an option of getting your auto loan from anywhere you feel comfortable.

Find Cars and check prices

Find the car you like from among thousands of car dealers across the nation. Your terms of the Auto Navigator will depend on your prequalification and the car you have chosen. So, find the one that fits your budget and style.

You can choose from over 12,000 participating dealers, and get real monthly payments and APRs for the cars you love. Your search remains valid for almost 30 days, so be sure to choose as many as you like and save them all.

Personalize your financing

You can personalize everything with Capital One Auto Navigator. You can choose your own payment terms by adjusting information like price, down payment amount, and term length to help you stay within your monthly payment budget.

You can also choose multiple cars and compare all permutations and combinations to help you decide what works best for you. At the end of the day, it’s about what works best for you. A car is supposed to make your life easy, so don’t overburden yourself and make your life difficult with hefty installments.

Visit the dealer

When you are ready to finance a vehicle, take your Capital One Auto Navigator Summary with you to let the dealer know about your prequalification. The offer includes the estimated payment terms you are expected to qualify for when you apply for the actual loan.

You can make any changes on this offer, as you discuss additional options, like service contracts. Also, if you have recently applied and funded another loan with Capital One Auto Finance, it might impact your eligibility for a new loan with this pre-qualification. Review your final paperwork and you can also use Auto Navigator to help double check any adjustments.

Conclusion:

Applying for Capital One Auto Navigator Prequalification makes sense, as it will make you educated about your own creditworthiness, without impacting your credit score. But do remember, that being prequalified by auto navigator does not guarantee that you will receive financing and that too on the same terms as expected. It will all depend on your actual credit application.

The general criteria to qualify for an auto loan is; you must be at least 18 years old, you should have a valid street address within the United States or an APO/FPO address, your minimum monthly income required is $1,500 or $1,800 depending on your credit qualifications and in case you have any existing Capital One accounts, they must be in good standing (not over limit, past due or delinquent).

Also, the advertised 3.24% APR is offered depending on the individual’s excellent and substantial credit, and key financing characteristics, including but not limited to the amount financed, a term less than or equal to 60 months, a loan-to-value (LTV) ratio of less than or equal to 80% and a new vehicle. Your actual APR will be based on your specific situation.

About Stilt:

Stilt provides loans to international students and working professionals in the U.S. (F-1, OPT, H-1B, O-1, L-1, TN visa holders) at rates lower than any other lender. Stilt is committed to helping immigrants build a better financial future.

We take a holistic underwriting approach to determine your interest rates and make sure you get the lowest rate possible.

Learn what others are saying about us on Google, Yelp, and Facebook or visit us at https://stilt.com. If you have any questions, send us an email at team@stilt.co.

Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

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