Capital One Auto Buying Service ((FREE))

The bottom line: Best for borrowers wanting to check rates without affecting their credit score and buying within Capital One Auto Navigator network. Capital One Auto Finance also offers auto loan refinancing.

capital one auto buying service

CNBC Select evaluated dozens of auto loan lenders based on their rates and terms, selection of loan options, car-buying experience and other factors. Below are our picks for the best auto loan providers, whether you're shopping for a new vehicle or looking to refinance your existing car loan. (Read more about our methodology below.)

While you can secure financing through PenFed for a car loan at the dealer of your choice, you'll find the most appealing deals using the credit union's car buying service, powered by TrueCar. Benefits include members-only cash back incentives and special loan discounts.

Capital One is well known for its credit card offers, but it also provides a variety of banking services, including car purchase and refinancing loans. This review can help you decide if Capital One auto finance loans are worth considering.

Customers who are happy with their Capital One auto loans mention positive customer service experiences and satisfaction with loan terms. Several customers with poor credit were also grateful to be able to secure loans with Capital One.

In this review, we gave Capital One car finance 4.1 stars for its easy auto loan prequalification service and good terms. Overall, Capital One is a good option for car loan financing. However, before you make a decision, compare providers to find the best auto loan for you.

But automakers are finally taking steps that will change forever the way Americans buy cars. They are trying to make the buying process easier while at the same time cutting the cost of their dealer distribution network, which makes up as much as 30 percent of the price of new cars.

Supporters of corporate ownership say it can benefit consumers by giving dealers more power in relation to the automakers. The big dealerships can attract more-skilled managers and give better customer service than small independents can, advocates say. Corporate ownership can also give cash-strapped dealers fresh capital and could even lower car prices by allowing dealers to pay for their inventory at lower-interest rates than the automakers' huge financing wings have been charging them. That's one reason carmakers have fought this change so long.

Franchised dealer networks were established in the early days of the automobile - when customers remained loyal to a brand - to be the representatives of the manufacturers. Consumers were well served by outlets that offered a combination of sales and service. And manufacturers stood only to gain market presence by having multiple dealers in the same town.

Buying services available on the Internet and at many wholesale warehouse clubs, in effect, do the dickering for car-shoppers. Buyers pick out the cars they want, then order them through these buying services, which have prenegotiated prices. A few local dealers can fill the orders.

The next challenge will be filling the continuing demand for repair service with fewer dealers. Many automakers, including Ford, GM, Chrysler, Toyota, and Mercedes-Benz, have opened or made plans to build satellite repair centers that would be run by a local dealer but would not do sales. So many dealers might have several service outlets. 041b061a72