Document:

The Class A-3-B Swap Transaction Confirmation

 Exhibit 10.7 
 SWAP TRANSACTION CONFIRMATION 
  

			
	Date:	  	November 22, 2006
		
	To:	  	 Capital One Auto Finance Trust 2006-C (“Counterparty”)
 c/o Wilmington Trust Company, as Owner Trustee
 Rodney Square North
 1100 North Market Street
 Wilmington, DE 19890-0001
 Attention: Jeanne Oller
 Telephone: (302) 636-6188
 Facsimile: (302) 636-4140
  
 With a copy to: 
  
 Capital One Auto Finance,
Inc.
 1680 Capital One Drive
 McLean, Virginia 22102

Attention: Director of Securitization
 Telephone: (703) 720-1000

Facsimile: (703) 720-2121

		
	From:	  	Wachovia Bank, National Association (“Wachovia”)
		
	Ref. No.	  	1620934

 Dear Sir: 
 The purpose of this letter (this “Confirmation”) is to confirm the terms and conditions of the Transaction entered into between us on the Trade Date specified below (the “Transaction”). This
Confirmation constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. 
 1. The definitions and provisions
contained in (i) the 2000 ISDA Definitions (the “ISDA Definitions”), as published by the International Swaps and Derivatives Association, Inc., and (ii) the Indenture dated as of November 22, 2006 (the “Indenture”)
between Counterparty and The Bank of New York, as Indenture Trustee relating to the issuance by Counterparty of certain debt obligations, are incorporated into this Confirmation. In the event of any inconsistency between the ISDA Definitions and
this Confirmation, this Confirmation will govern. In the event of any inconsistency between the ISDA Definitions and the Indenture, the Indenture will govern. References herein to a “Transaction” shall be deemed to be references to a
“Swap Transaction” for purposes of the ISDA Definitions. Capitalized terms used but not defined herein have the meanings ascribed to them in the Indenture. 
  

					
		 		  	Trust Swap Confirmation
		 		  	Class A-3-B Notes

 2. The terms of the particular Transaction to which the Confirmation relates are as
follows: 
  

			
	Transaction Type:	  	Interest Rate Swap
		
	Currency for Payments:	  	U.S. Dollars
		
	Notional Amount:	  	For the initial Calculation Period, the Notional Amount shall be equal to USD 294,500,000. For each subsequent Calculation Period, the Notional Amount shall be equal to the Note Balance of the
Class A-3-B Notes on the first day of such Calculation Period. With respect to any Payment Date, the Note Balance of the Class A-3-B Notes will be determined using the Servicer’s Certificate for the related Determination Date (giving effect to
any reductions of the Note Balance of the Class A-3-B Notes reflected in such Servicer’s Certificate).
		
	Term:	  	
		
	 Trade Date:
	  	November 14, 2006
		
	 Effective Date:
	  	November 22, 2006
		
	 Termination Date:
	  	The earlier of (i) the July 2011 Payment Date and (ii) the date on which the Note Balance of the Class A-3-B Notes is reduced to zero.
		
	Fixed Amounts:	  	
		
	 Fixed Rate Payer:
	  	Counterparty
		
	 Period End Dates:
	  	Monthly on the 15th of each month, commencing January 15,
2007, through and including the Termination Date; No adjustment.
		
	 Payment Dates:
	  	Monthly on the 15th of each month, commencing January 16,
2007, through and including the Termination Date.
		
	 Business Day Convention:
	  	Following
		
	 Business Day:
	  	New York
		
	 Fixed Rate:
	  	5.05%
		
	 Fixed Rate Day Count Fraction:
	  	30/360
		
	 Floating Amounts:
	  	
		
	 Floating Rate Payer:
	  	Wachovia
		
	 Period End Dates:
	  	Monthly on the 15th of each month, commencing January 16,
2007, through and including the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.

  

					
		 	Page 2 of 5	  	Trust Swap Confirmation
		 		  	Class A-3-B Notes

			
	 Payment Dates:
	  	Monthly on the 15th of each month, commencing
January 16, 2007, through and including the Termination Date.
		
	 Business Day Convention:
	  	Following
		
	 Business Day:
	  	New York
		
	 Floating Rate Option:
	  	USD-LIBOR-BBA, except in respect of the initial
		
	 Designated Maturity:
	  	 Calculation Period, the Floating Rate Option shall be deemed to equal 5.35226% (which rate was Determined two London Business Days prior to the
Effective Date by the Calculation Agent using Linear Interpolation by reference to the Floating Rate Option with Designated Maturities of 1 Months and 2 Months).
  
 1 Month, except in respect of the initial Calculation Period in respect of which Linear Interpolation shall apply.

		
	 Spread:
	  	Plus 0 basis points.
		
	 Floating Rate Day Count Fraction:
	  	Actual/360
		
	 Reset Dates:
	  	The first day of each Calculation Period.
		
	 Compounding:
	  	Inapplicable
		
	 Payments of Floating Amounts:
	  	Wachovia agrees that it will use commercially reasonable efforts to make any Floating Amount payments by 12:00 pm (New York City time) on any relevant Floating Amount Payment Date, provided,
however, Counterparty agrees that any failure by Wachovia to make any such payment by 12:00 pm (New York City time) on any relevant Floating Amount Payment Date shall not constitute an Event of Default under the Agreement unless and until Wachovia
fails to make such payment and such failure constitutes an Event of Default under the Agreement.

 3. The additional provisions of this Confirmation are as follows: 
  

			
	Calculation Agent:	  	Wachovia
		
	Payments to Wachovia:	  	 Name: Wachovia Bank, N.A./Charlotte
 ABA
053-000-219
 Account #: 04659360006116
 FAO: Capital Markets
Group
 Ref: Derivative Desk (Trade No.: 1620934)

  

					
		 	Page 3 of 5	  	Trust Swap Confirmation
		 		  	Class A-3-B Notes

			
	Payments to Counterparty:	  	 The Bank of New York
 ABA: 021000021
 Acct: 507947541
 Attn: Derick Cividini
  
 Capital One Auto Finance Trust 2006-C

 4. Documentation 
 This Confirmation supplements, forms a part of, and is subject to, the 1992 ISDA Master Agreement dated as of November 22, 2006 (including the Schedule thereto) as amended and supplemented from time to time (the
“Agreement”) between you and us. All provisions contained in the Agreement govern this Confirmation except as expressly modified herein. Unless otherwise provided in the Agreement, this Confirmation is governed by the laws of the State of
New York. 
 5. Calculation of Market Quotation or Loss following a designation of an Early Termination Date: 
 Upon designation of an Early Termination Date with respect to this Transaction, the relevant party in calculating the Market Quotation or Loss, as appropriate, for this
Transaction shall take into account the anticipated amortization of the Note Balance of the Class A-3-B Notes for all Calculation Periods that would otherwise have ended on Payment Dates that would otherwise have fallen after such Early
Termination Date. 
  

					
		 	Page 4 of 5	  	Trust Swap Confirmation
		 		  	Class A-3-B Notes

 Please confirm that the foregoing correctly sets forth the terms of our agreement by executing a copy of this
Confirmation and returning it to us. 
  

			
	Very truly yours,
	
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Kim V. Farr

	Name:	 	Kim V. Farr
	Title:	 	Director

  

			
	Accepted and confirmed as of the date first above written:
	
	CAPITAL ONE AUTO FINANCE TRUST 2006-C
		
	By:	 	WILMINGTON TRUST COMPANY, not in its individual capacity but solely in its capacity as Owner Trustee
		
	By:	 	 /s/ J. Christopher Murphy

	Name:	 	J. Christopher Murphy
	Title:	 	Financial Services Officer

					
		 	Page 5 of 5	  	Trust Swap Confirmation
		 		  	Class A-3-B NotesThe Class A-4 Swap Transaction Confirmation

 Exhibit 10.8 
 SWAP TRANSACTION CONFIRMATION 
  

			
	Date:	  	November 22, 2006
		
	To:	  	 Capital One Auto Finance Trust 2006-C (“Counterparty”)
 c/o Wilmington Trust Company, as Owner Trustee
 Rodney Square North
 1100 North Market Street
 Wilmington, DE 19890-0001
 Attention: Jeanne Oller
 Telephone:   (302) 636-6188
 Facsimile:    (302) 636-4140
  
 With a copy to: 
  
 Capital One Auto Finance, Inc.
 1680 Capital One Drive
 McLean, Virginia 22102
 Attention: Director of Securitization
 Telephone:   (703) 720-1000
 Facsimile:    (703) 720-2121
  

	From:	  	Wachovia Bank, National Association (“Wachovia”)
		
	Ref. No.	  	1620935

 Dear Sir: 
 The purpose of this letter (this “Confirmation”) is to confirm the terms and conditions of the Transaction entered into between us on the Trade Date specified below (the “Transaction”). This
Confirmation constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. 
 1. The definitions and provisions
contained in (i) the 2000 ISDA Definitions (the “ISDA Definitions”), as published by the International Swaps and Derivatives Association, Inc., and (ii) the Indenture dated as of November 22, 2006 (the “Indenture”)
between Counterparty and The Bank of New York, as Indenture Trustee relating to the issuance by Counterparty of certain debt obligations, are incorporated into this Confirmation. In the event of any inconsistency between the ISDA Definitions and
this Confirmation, this Confirmation will govern. In the event of any inconsistency between the ISDA Definitions and the Indenture, the Indenture will govern. References herein to a “Transaction” shall be deemed to be references to a
“Swap Transaction” for purposes 
  

					
		 		  	 Trust Swap Confirmation
 Class A-4 Notes

 of the ISDA Definitions. Capitalized terms used but not defined herein have the meanings ascribed to them in the
Indenture. 
 2. The terms of the particular Transaction to which the Confirmation relates are as follows: 
  

			
	 Transaction Type:
	  	Interest Rate Swap
		
	 Currency for Payments:
	  	U.S. Dollars
		
	 Notional Amount:
	  	For the initial Calculation Period, the Notional Amount shall be equal to USD 478,000,000. For each subsequent Calculation Period, the Notional Amount shall be equal to the Note Balance of
the Class A-4 Notes on the first day of such Calculation Period. With respect to any Payment Date, the Note Balance of the Class A-4 Notes will be determined using the Servicer’s Certificate for the related Determination Date (giving effect to
any reductions of the Note Balance of the Class A-4 Notes reflected in such Servicer’s Certificate).
		
	 Term:
  
	  	
		
	 Trade Date:
	  	November 14, 2006
		
	 Effective Date:
	  	November 22, 2006
		
	 Termination Date:
	  	The earlier of (i) the May 2013 Payment Date and (ii) the date on which the Note Balance of the Class A-4 Notes is reduced to zero.
		
	 Fixed Amounts:
	  	
		
	 Fixed Rate Payer:
	  	Counterparty
		
	 Period End Dates:
	  	Monthly on the 15th of each month, commencing January 15,
2007, through and including the Termination Date; No adjustment.
		
	 Payment Dates:
  
	  	Monthly on the 15th of each month, commencing January 16,
2007, through and including the Termination Date.
		
	 Business Day Convention:
	  	Following
		
	 Business Day:
	  	New York
		
	 Fixed Rate:
	  	4.9554%
		
	 Fixed Rate Day Count
 Fraction:
	  	30/360

					
		  	Page 2 of 5	  	 Trust Swap Confirmation
 Class A-4 Notes

			
	 Floating Amounts:
	  	
		
	 Floating Rate Payer:
  
	  	Wachovia
	 Period End Dates:
  
	  	Monthly on the 15th of each month, commencing January 16,
2007, through and including the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.
		
	 Payment Dates:
  
	  	Monthly on the 15th of each month, commencing January 16,
2007, through and including the Termination Date.
	 Business Day Convention:
  
	  	Following
	 Business Day:
  
	  	New York
		
	 Floating Rate Option:
  
	  	USD-LIBOR-BBA, except in respect of the initial
	 Designated Maturity:
  
	  	 Calculation Period, the Floating Rate Option shall be deemed to equal 5.35226% (which rate was Determined two London Business Days prior to the
Effective Date by the Calculation Agent using Linear Interpolation by reference to the Floating Rate Option with Designated Maturities of 1 Months and 2 Months).
  
 1 Month, except in respect of the initial Calculation Period in respect of which Linear Interpolation shall apply.

		
	 Spread:
  
	  	Plus 0 basis points.
		
	 Floating Rate Day Count Fraction:
  
	  	Actual/360
	 Reset Dates:
  
	  	The first day of each Calculation Period.
	 Compounding:
  
	  	Inapplicable
	 Payments of Floating Amounts:
  
	  	Wachovia agrees that it will use commercially reasonable efforts to make any Floating Amount payments by 12:00 pm (New York City time) on any relevant Floating Amount Payment Date, provided,
however, Counterparty agrees that any failure by Wachovia to make any such payment by 12:00 pm (New York City time) on any relevant Floating Amount Payment Date shall not constitute an Event of Default under the Agreement unless and until Wachovia
fails to make such payment and such failure constitutes an Event of Default under the Agreement.

 3. The additional provisions of this Confirmation are as follows: 
  

			
	Calculation Agent:	  	Wachovia
		
	Payments to Wachovia:	  	 Name: Wachovia Bank, N.A./Charlotte
 ABA
053-000-219
 Account #: 04659360006116
 FAO: Capital Markets
Group
 Ref: Derivative Desk (Trade No.: 1620935)

		
	Payments to Counterparty:	  	 The Bank of New York
 ABA: 021000021
 Acct: 507947541
 Attn:  Derick Cividini
 Capital One Auto Finance Trust 2006-C

  

					
		  	Page 3 of 5	  	 Trust Swap Confirmation
 Class A-4 Notes

 4. Documentation 
 This Confirmation supplements, forms a part of, and is subject to, the 1992 ISDA Master Agreement dated as of November 22, 2006 (including the Schedule thereto) as amended and supplemented from time to time (the
“Agreement”) between you and us. All provisions contained in the Agreement govern this Confirmation except as expressly modified herein. Unless otherwise provided in the Agreement, this Confirmation is governed by the laws of the State of
New York. 
 5. Calculation of Market Quotation or Loss following a designation of an Early Termination Date: 
 Upon designation of an Early Termination Date with respect to this Transaction, the relevant party in calculating the Market Quotation or Loss, as appropriate, for this
Transaction shall take into account the anticipated amortization of the Note Balance of the Class A-4 Notes for all Calculation Periods that would otherwise have ended on Payment Dates that would otherwise have fallen after such Early
Termination Date. 

					
		  	Page 4 of 5	  	 Trust Swap Confirmation
 Class A-4 Notes

 Please confirm that the foregoing correctly sets forth the terms of our agreement by executing a copy of this
Confirmation and returning it to us. 
  

			
	Very truly yours,
	
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Kim V. Farr

	Name:	 	Kim V. Farr
	Title:	 	Director

 Accepted and confirmed as of the date first above written: 
  

			
	CAPITAL ONE AUTO FINANCE TRUST 2006-C
		
	By:	 	 WILMINGTON TRUST COMPANY, not in its
 individual capacity but solely in its capacity as
 Owner Trustee

		
	By:	 	 /s/ J. Christopher Murphy

	Name:	 	J. Christopher Murphy
	Title:	 	Financial Services Officer

  

					
		 		  	Trust Swap Confirmation
		 	Page 5 of 5	  	Class A-4 Notes

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