Capital One’s Auto Navigator’s latest update combines auto financing with actual vehicle shopping, scouring 3 million cars and 12,000 dealerships nationwide to help consumers find the right vehicle.
The Auto Navigator also recently debuted a soft credit check that looks at a consumer’s credit score without affecting it.
The goal is to make consumers dealer ready before they step foot on the car lot.
“We’re really challenging the market for the sake of our customers.”
Megan Baker
“That’s new, and the car listings themselves are new,” said Megan Baker, senior director of brand marketing. “We have made that a seamless daily update. We’re really challenging the market for the sake of our customers.”
All this innovation comes from “The Garage” innovation center at Capital One’s campus in Plano. The Auto Navigator debuted in the summer of 2015 and has been constantly changing since then.
The garage has a testing area where consumers can take the Auto Navigator for a spin to find potential problems.
“We understand the pain points they go through when they buy,” Prachi Purohit, senior manager of corporate communications for Capital One.
HOW IT WORKS
First, consumers enter their personal information and the soft credit check is conducted. Whether they get prequalified or not, they can browse vehicles by location, price, features, and other factors from the Auto Navigator website. They can even search for a specific vehicle by VIN.
The tool factors in the price, interest rate and other factors on the fly.
“You can actually change the vehicle sales price in the tool itself and see how that changes your monthly payment and APR,” Baker said.
Then, the consumer can pull that information up on their mobile browser, take it to the dealership and start the actual buying process.
Vehicle trade-ins, warranties, and other add-ons can be plugged in, too.
The Auto Navigator finances vehicles from $4,000 up to $40,000.
DFW AUTO SHOW
Capital One will showcase the Auto Navigator at the DFW Auto Show March 22-26 at the Kay Bailey Hutchison Convention Center.
Capital One is the title sponsor for the car show and will have a meet and greet with Chip Foose from the show Overhaulin’.
“I’m thrilled to be joining Capital One at this year’s DFW Auto Show, ”Foose said in a statement. “In my more than 45 years in the auto industry, styles, models, and technology have constantly evolved,” Foose said. “So, too, has the way we finance cars — the Capital One Auto Navigator website is a great example of that.”
He’ll also have one of his custom cars on display.
Overhaulin’ co-host Adrienne Janic will also be in attendance.
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R E A D N E X T
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The real-life father and daughter want you to know how easy it is to buy a car when you start with Capital One Auto Navigator, from the company's Plano-based financial services division. (P.S., French toast is probably not included.)
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Grapevine-based Car Capital recently launched to provide technology that gives dealers the power to approve 100 percent of consumers that enter a dealership, regardless of credit history.
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Two nonprofits will each receive $250,000 in grant funding. The Capital One grants are part of a $3.5 million commitment to 12 nonprofit organizations.
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The Dallas firms are among 14 Texas shops "that founders will love" on Inc.'s 2021 list of private equity and venture capital firms. Inc.'s list of 146 founder-friendly investors is its biggest yet.
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Capital One wants to make travel an even more rewarding experience with unexpected amenities in a new 10,000-square-foot space in Terminal D. A second lounge is planned for D.C.'s Dulles airport.
