What Is A Simple Interest Loan? | Capital One

Watch this video to learn about simple interest loans. See how your payments affect your loan.

Understand how your loan works to help you save time and money.

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[lookmomnohands]

Wow im surprised on the bad comments.I went from 530 credit score to close to 700 with capital 1. Also i got a Lexus that i love for a low monthy payment.but i pay my bills on time.

[D.A.Gates]

Capital one is great. I started with a 495 credit score and since I started carrying capital one credit cards I'm up to 740 and now capital one just gave me a car loan. I'm following whatever suggestions they offer. They have not steered me wrong so far. Thanks capital one. You are the best 👌🏼

[lisamacauley]

I’ve been paying more than my normal payment since the onset of my loan. I’m happy to know that my car will be paid off nearly a year earlier! I saved a ton of interest by doing this!

[francescadelight]

Capital one still remains the best for me. No one can convince me otherwise

[ShayCS]

My car was 15, 000 when I got it. My payments are about 240 each month soooo.. What I do, and it’s just a suggestion since I get paid biweekly.. I pay 300 per month (1/2 of it with one check and half with the other) never have I been late a payment and it’s always before the due date. I think I was set to have it paid off in 5 years, but instead it’ll be 3 3/4 years. Interest rate did go down and it’s taken my credit score very well into the 700s..
Before capital one, no body else gave me the opportunity to build credit with their company, let alone financing a car. And I’m in my mid 20s.. so the system definitely works if you work with the system 🤷🏽‍♀️

[joes]

Dang I honestly learned quite a bit from this. I had no idea making my payment a day or few days early would actually help save me money in the long run. Yet another reason why I tell my family and friends I love Capital One. Thanks Capital One!

[finestfotosllc.]

I'm glad I saw this; was not aware the Interest goes down as payments go!

[marcochavanne]

Thank y'all for approving me for my new Passat and helping me rebuild my credit!

[salty-as-heck]

I'm 2 years and 4 months into my 6 year car loan and Ive already shaved off 18 months from my loan by paying weekly and throwing extra money to principal in every weekly payment. I think if I keep it up I'll be done before next year is out and will have saved nearly 2.5 years of interest and payments.

[MotivatedMia]

Capital One is great so far. I am financing a car for the first time and they provide alot of educational articles on the app and videos like this and it's important to learn and understand how auto loans work....I appreciate the great customer service as well. I am a proud customer 😊 Happy Holidays everybody 😁

[stevenakins]

Gotta say, capital one has been very informative and easy to deal with. They will have my business for many years to come if it stays the way its been. Only issue I've had is making too many payments in one billing cycle on my cc and having it locked. 20 minute process to unlock it, but I'm glad they take the security seriously. Just hope it also catches someone maxing me out too lol.

[gabriellewilliams]

Thank you for sharing this! Helpful. I now plan to pay a bit more than is due and early!

[sherrit]

This was very helpful! Thank you capital one

[autumnonpurpose]

I’m so happy I financed with CAPITAL ONE!!! thanks for this I learned something 🥰

[yasminewatson]

Thank for this video!!! & Thanks Capital One for giving me a chance.. it hard trying to get approved for a car. But I have several credit cards with capital one being one of them and I’ve always made my payments on time. My credit score is doing numbers and I can’t wait to see what to come with this new car loan. I’m definitely going to pay it off early and make payments early as well to lower that interest rate.

[cliftontrigg]

Thanks for the advice, I’ve heard of early pay off before but no one explained how.

[sarahvice]

This educational video and the reality that not everyone including myself knows these simple finances right out of highschool confirms my argument that we need more common sense math being taught in the lower educational years that young adults need in the real world!!! Not geometry and the likes! Come on American Educational System teach more about MONEY!!

[larissamcguire]

What also helps is splitting the monthly payment in half and making your half car payment every two weeks.

[Destinedtoreignnow]

Thank you capital one for accepting me when others denied Now I’m Back !

[aseasonedtrucker]

We pay our loan weekly. Love it every Monday morning it comes out of the bank account