## How do we make a car move faster? We give the buyer a Blank Check ® . 

Hard: finding the right car and then having to spend all day getting a car loan. 

Easy: shopping with a Capital One Blank Check ® loan already in your wallet. 

Auto finance, a market we entered five years ago with a small acquisition, is now one of our fastest-growing businesses and a solid contributor to the bottom line. Managed loans outstanding have increased from $4.0 billion to $8.5 billion over the last two years. And in 2003 contributed $99.3 million to the Company’s net income. 

With our skill in managing credit risk, sophisticated information technology and strong Internet presence, we can underwrite most auto loans in minutes and profitably serve a wide range of borrowers. 

Auto finance diversifies our assets and gives us a major new source of long-term growth. It’s a trillion-dollar market—almost twice as big as the credit card market. It’s highly fragmented, so there’s plenty of room to build market share by offering consumers real value and innovative, empowering products. 

Capital One markets auto loans by direct mail, by cross-selling and through car dealers. We’re also the leader in Internet auto lending, a sector that is growing very rapidly as more and more consumers discover how easy it is to put themselves in the driver’s seat before heading for the car lot. 

