Capital One Auto Loans By Mom2One on May 31, 2008 - Updated Sep 18, 2011

About a year ago we needed to replace our second car. We knew roughly our price range and what we were looking for.

Honestly our credit has some black marks on it. Our credit has been clean since our black marks, but we knew it might still be hard to get a decent car loan. Sure just about anyone can get an auto loan, but you are usually paying an arm and a leg for it.

I checked on line and decided to apply for Capital One Auto Loan, basically just to see what they would approve us for and the interest rate. We were approved for $17,000 (more then enough) with a 9.5% interest rate.

They sent us a blank check that we could take to any certified dealer.

We did not want to spend more then $10,000 for a used car, so we were approved for more then enough we wanted.

The blank check Capital One sends to you is only good for, I believe 30 days, after that you must resubmit an application to Capital One.

So with our blank check in hand we headed off to the dealership. When we finally found a car we can live with and in our price range, we headed into the finical department. I told them that I had a Capital One blank check and they knew exactly what I was talking about. We did decide to go ahead and see If the dealership could find us a better loan then the 9.5% with Capital One, but in the end the closest they came too was 11%.

We decided to stick with Capital One. The whole process was easy. I just made the check out to the dealership and drove off with the car.

About a month later the statements started coming.

If you have a few black marks on your credit report and are looking for a decent car loan I say give Capital One Auto a try.