Capital One Motorcycle Loans: What You Need To Know

Capital One does not offer motorcycle loans or motorcycle financing. Capital One Auto Finance only refinances cars, light trucks, minivans and SUVs that will be used for personal use. Capital One does not refinance motorcycles, recreational vehicles (RVs), ATVs, boats, camper vans, motor homes, or vehicles without a Vehicle Identification Number (VIN).

Capital One does not finance motorcycle loans

When it comes to auto loans, Capital One provides financing for both new and used vehicles within specific requirements. The vehicles must be no older than 10 years and have an established resale value. Additionally, they should not fall under the category of vehicle makes no longer in production, such as Suzuki or Isuzu. Capital One also specifies that they do not refinance commercial vehicles, motorcycles, RVs, ATVs, boats, camper vans, motor homes, or vehicles with specific issues or lacking proper documentation.

The company's auto loan refinancing process is designed to help individuals save money on their monthly payments or overall loan costs. Capital One offers a simple online process for refinancing, allowing customers to pre-qualify without impacting their credit score. This pre-qualification step helps determine eligibility and provides an estimate of potential savings.

While Capital One does not finance motorcycle loans, they provide various other financial services, including credit cards, checking, and savings accounts. They also offer digital tools like the Capital One Mobile app, virtual cards, and proactive alerts to assist customers in managing their finances and building their credit score.

It is important to note that some online sources may claim that Capital One offers motorcycle financing. However, as per the official sources, Capital One does not include motorcycles in its auto financing or refinancing options.

Capital One finances new and used cars

Capital One offers auto loans for new and used cars, light trucks, minivans, and SUVs for personal use. The vehicles must be no older than 10 years and have an established resale value. Capital One does not offer loans for motorcycles, RVs, boats, or commercial vehicles.

If you are looking to finance a new or used car, you can check if you pre-qualify for financing with Capital One in minutes with no impact on your credit score. This allows you to know your financing terms before heading to a participating dealer. You can also refinance your current auto loan with Capital One to lower your car payment, annual percentage rate (APR), or both.

To pre-qualify for refinancing with Capital One, you must be at least 18 years old and have a valid physical street address within the contiguous United States (excluding Alaska, Hawaii, and Puerto Rico). You must also be in good standing on any existing Capital One accounts and any mortgage and auto loans. There should be no material changes to your credit in the last 90 days, such as delinquency on any debt or bankruptcy filings. Additionally, you must not have more than three open Capital One Auto Finance accounts or an aggregate limit over $100,000 with Capital One.

Capital One's auto loan refinancing process is easy and can be done online. You can use their digital tools, such as the Capital One Mobile app, virtual cards, and proactive alerts, to help you manage your finances and build your credit score. Checking for savings and refinancing options with Capital One will not affect your credit score.

Capital One Auto Finance requirements

Capital One Auto Finance offers auto loans for new and used cars. The company does not offer motorcycle financing.

Capital One Auto Finance has different requirements for customers looking to pre-qualify for auto financing, refinance their current auto loan, or access a pre-approved financing offer.

To pre-qualify for auto financing, customers can see if they pre-qualify in minutes with no impact to their credit score. They can also know their financing terms before heading to a participating dealer.

To refinance a current auto loan, Capital One requires that the current loan is from another financial institution, not a Capital One subsidiary. The current lender must meet one of the following requirements:

• Currently reporting your loan to a major credit bureau
• Is FDIC or NCUA insured
• Is Better Business Bureau-accredited and a state-registered lender or state-registered auto dealer

Capital One only refinances standard auto loans with only one lienholder on the vehicle title for the loan. They do not refinance unsecured loans or personal loans that use a vehicle title as collateral (title loans).

For customers who have been pre-approved for an exclusive financing offer, Capital One offers the opportunity to view exclusive offers and sales details by entering personal information.

In addition to these requirements, Capital One Auto Finance will notify credit reporting agencies (CRAs) of accounts that are 30 days or more past due. They may also include information on whether a vehicle was repossessed or an account was paid in full.

To apply for auto financing or refinancing, Capital One will submit a soft credit check to the CRA(s). These soft credit checks are only visible to the applicant on their credit report and do not impact their credit score.

It is important to note that Capital One does not charge an application fee, but there may be a title transfer fee depending on the state of residence.

Capital One Auto Refinance FAQs

To pre-qualify for refinancing, applicants must be at least 18 years old, have a valid physical street address within the contiguous United States (excluding Alaska, Hawaii, Puerto Rico, etc.), and not be deceased or imprisoned. Applicants must also be in good standing on any existing Capital One account and any mortgage and auto loan, including the auto loan to be refinanced. There should be no material changes to the applicant's credit in the last 90 days, and they should not have three or more open Capital One Auto Finance accounts or an aggregate limit over $100,000 with Capital One.

Capital One Auto Finance refinances cars, light trucks, minivans, and SUVs for personal use. The vehicle must have a Vehicle Identification Number (VIN) and title issued, and it must not be a commercial vehicle, motorcycle, recreational vehicle (RV), ATV, boat, camper van, motor home, or a vehicle with a history of chronic malfunctions, among other restrictions. The current loan balance should not be significantly greater than the estimated value of the vehicle.

The minimum loan amount is $7,500, and the maximum is $75,000. The maximum loan amount may be based on the applicant's income, credit characteristics, the vehicle being refinanced, and the amount due to the current lender.

First, submit a pre-qualification request to check your eligibility for refinancing offers. If you pre-qualify, you can browse offers and savings with no obligation to move forward. Next, choose an offer and submit your credit application, which will result in a hard inquiry on your credit report. Then, sign your contract and confirm your current lender information. Finally, Capital One will pay off your current lender, update your title documents, and let you know if any other steps are needed.

No, Capital One does not offer motorcycle financing.

Other ways to get a loan for a motorcycle

Capital One does not offer motorcycle financing. However, there are several other ways to get a loan for a motorcycle.

Motorcycle-specific loans

Motorcycle-specific loans are similar to car loans. They are secured loans, with the motorcycle itself serving as collateral. This means that if you fall behind on your payments, the lender could repossess the motorcycle and sell it to recoup the outstanding balance. Some banks and credit unions offer these loans, which are specifically for motorcycles and are secured by the bike you are purchasing. A down payment may also be required to qualify. Since the bike serves as collateral, rates tend to be lower relative to unsecured loans. It can also make it easier to qualify for a motorcycle loan if you have bad credit. However, if you can’t make your payments, you risk losing your bike.

Personal loans

Personal loans are generally unsecured, meaning they don't require collateral. While most personal loans could be used to purchase a motorcycle, they tend to have higher interest rates compared to secured motorcycle loans. Lenders like LightStream offer unsecured loans that can be used for motorcycles. If you want a traditional motorcycle loan, a local credit union may be your best option. Credit unions tend to offer lower rates than large banks, but you’ll need to be a member of the credit union to receive the loan.

Debt consolidation loan

If you have poor credit, it might be more challenging to qualify for a motorcycle loan. One way to build your credit is by using a debt consolidation loan, which can lower your monthly payments and make a motorcycle more affordable.

Frequently asked questions