In January 2024, Capital One’s Insights Center published a comprehensive study that shed light on a persistent challenge in the US: transportation inequality. For many low-income Americans, not having access to a car isn’t just an inconvenience—it’s a barrier to employment, education, healthcare, and economic opportunity.

The findings were clear. Of those surveyed who do not own a car because they can’t afford one, 34% said that access to a vehicle would improve their job prospects. Seventy-seven percent of parents said a car would open up educational and social opportunities for their children. Others cited missed medical appointments and limited food choices due to a lack of transportation.

Alternatives like public transit or ride-sharing simply aren’t viable in many parts of the country. Suburban and rural communities—where poverty is growing more rapidly than in cities—are particularly impacted. These areas are often car-dependent, yet increasingly home to families who can’t afford a vehicle.

Capital One’s research contributes to a growing body of evidence that transportation access plays a critical role in shaping household outcomes. Solutions like expanding affordable public transit remain important, but for many, immediate access to a personal vehicle is still the most practical way to improve their quality of life.

As digital platforms play a growing role in how people shop for vehicles, many prospective buyers are turning to tools like Capital One’s Auto Navigator for the initial stages of their journey. The service allows consumers to browse millions of vehicles from participating dealerships, review inventory and financing options, and pre-qualify for auto loans with no impact to their credit score. Users can also see personalized interest rates and estimated monthly payments, giving them greater transparency and control before ever stepping into a dealership.

Auto Navigator has helped drive remarkable growth for Capital One—auto loan originations climbed from roughly US$6.8 billion per quarter in 2016 to US$9.2 billion by Q1 2025, an overall increase of approximately 35%, with recent year-over-year growth rates consistently around 22–23%.

But despite the rise of digital solutions, in-person visits continue to dominate the final stages of car purchase, according to Capital One’s 2024 Car Buying Outlook. The report, exploring how Americans navigate the process of purchasing a vehicle, affirmed the enduring role of the dealership and the importance of trust and transparency—nearly half of buyers said they’d choose a more expensive dealership if they trusted the seller.

There’s a generational nuance to this behavior. Gen Z buyers, in particular, are showing a renewed interest in face-to-face dealership experiences—perhaps a reaction to digital fatigue. Across all age groups, most buyers still prefer to finalize pricing and financing in person.

Alongside consumer-facing tools like Auto Navigator, Capital One has developed dealer-focused solutions to help dealerships connect with more buyers, optimize communications, and close more sales. The Navigator Platform, launched in 2023, leverages Auto Navigator data to allow dealers to receive buyer leads, view customer financing data, and update financing scenarios in real-time. Both dealer and buyer see the same information simultaneously, improving transparency and helping dealers tailor offers instantly, whether online or in-person.

And now Capital One is harnessing the power of AI to further evolve the car buying and selling experience. Its Chat Concierge, launched in early 2025, is an AI-powered assistant designed to help dealers capture more leads and move more vehicles by streamlining online interactions with customers.

Chat Concierge isn’t your typical chatbot. It uses a network of specialized AI agents, all coordinated by a central “orchestrator,” to engage consumers in real time. The system can handle a shopper jumping from questions about model comparisons to trade-in values to scheduling a test drive, without losing the thread. It’s trained to reason like a human and is available 24/7—no call-backs, no wait time, no human required.

Sanjiv Yajnik, Capital One’s president of financial services, says the tool was built for a moment when customer expectations are high and dealer headcount is low. “Even at two o’clock in the morning, people want a full conversation,” he says. “This gives them that, without needing more bodies on the floor.”

The stakes are significant. Between 2023 and 2024, gross profits on new car sales fell by 33%, while used car margins dropped 23%. As inventory piles up and affordability continues to slide, dealers must find ways to work smarter—not just harder. Tools like Chat Concierge offer that edge, and for Capital One, it may also mean financing more cars. If successful, this AI-driven approach could reshape not just how cars are sold, but how financial institutions embed themselves into everyday, high-value purchases.

As the auto industry accelerates its shift toward electric vehicles, Capital One is also helping consumers prepare for what’s next. Its EV Hub—integrated into the Auto Navigator platform—is a digital resource center designed to demystify EV ownership. The hub offers clear, practical guidance on topics ranging from the environmental and financial benefits of electrification to the logistics of charging at home and on the road.

It also addresses common concerns like range anxiety and highlights emerging technologies such as solid-state batteries. For those considering their first EV, the platform includes tools for planning longer trips with charging stops and understanding the nuances of public versus residential charging. In essence, Capital One is positioning itself not just as a financier of traditional vehicles—but as an informed partner for those making the leap to electric.

Beyond solutions for buyers and sellers, Capital One is also investing in mobility innovation at the ecosystem level. Through its equity-free Mobility Accelerator Program, the company supports early-stage startups working on the future of transportation. Over the past three years, nearly 45 startup founders have participated in a 12-session bootcamp focused on refining business plans, building networks, and preparing for investment.

Participants also benefit from Capital One’s Pro Bono Growth Consulting and mentorship from volunteers and industry experts. The goal is to help visionary entrepreneurs build scalable solutions in the mobility space—from new transit technologies to tools that support equitable car access.

Kamlesh Talreja, CTO and SVP of Capital One Financial Services, puts it succinctly: “We’re empowering them to dream big, take risks, and ultimately make a difference in the automobility industry and society as a whole.”