Located online at www.capitaloneautofinance.com, the help center provides customer friendly information about a variety of car financing options and strategies. Available to consumers free of charge, resources include advice articles, FAQs, a glossary of terms and other useful auto finance-related information. In addition, the site provides access to the bank’s auto insurance partner, Progressive.
Recent surveys show that car buyers often overlook the financing part of their shopping and purchase experience. And only about 7% of new car sales in the US last year were made with zero percent loans.
Capital One, which is a global leader in loans and credit cards and the largest online vehicle lender in the US, has developed its new service in the belief that the current financial environment in North America will force US vehicle buyers to consider their finance more closely.
Finance remains the most lucrative part of many auto companies’ business and with US interest rates increasing, coupled with the decline in zero percent offers from the car makers, buyers have more reason to be discerning about the finance they opt for.
The vast majority of car buyers will need a loan for their purchase, so we created our help center to give them the tools they’ll need to make smart choices, said Capital One Auto Finance vice president Brian Reed.
Reed added that it pays to get informed and shop around before buying a vehicle as an auto loan is probably the single-biggest factor in determining the overall value of a vehicle.
