Capital One Auto Receivables 8-K Other Events

Exhibit 1.2

CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2007-1

ASSET BACKED NOTES

TERMS AGREEMENT

Dated:    June 14, 2007

To: CAPITAL ONE AUTO FINANCE, INC.

CAPITAL ONE AUTO RECEIVABLES, LLC

Re: Underwriting Agreement, dated June 12, 2007

1. Terms of the Notes

Class	Initial Note Balance		Interest Rate	Final Scheduled Payment Date
A-1	$	279,000,000	5.3444%	June 2008 Payment Date
A-2	$	325,000,000	5.43%	February 2010 Payment Date
A-3	$	308,000,000	5.47%	June 2011 Payment Date
A-4	$	283,090,000	LIBOR + 0.02%	December 2012 Payment Date
B	$	54,910,000	5.76%	December 2013 Payment Date

2. Underwriters

The Underwriters named below are the “Underwriters” for the purpose of this Agreement and for the purposes of the above-referenced Underwriting Agreement as such Underwriting Agreement is incorporated herein and made a part hereof.

Deutsche Bank Securities Inc.

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Barclays Capital Inc.

J.P. Morgan Securities Inc.

Lehman Brothers Inc.

Morgan Stanley & Co. Incorporated

Greenwich Capital Markets, Inc.

3. Ratings

Class	Standard & Poor’s	Moody’s	Fitch
A-1	A-1+	Prime-1	F1+
A-2	AAA	Aaa	AAA
A-3	AAA	Aaa	AAA
A-4	AAA	Aaa	AAA
B	A	A2	A

4. Underwriting Liability

Underwriting Liability	Class A-1			Class A-2			Class A-3			Class A-4			Class B
Deutsche Bank Securities Inc.	$	98,000,000		$	114,000,000		$	108,000,000		$	99,081,500		$	27,455,000
Merrill Lynch, Pierce, Fenner & Smith Incorporated	$	98,000,000		$	114,000,000		$	108,000,000		$	99,081,500		$	27,455,000
Barclays Capital Inc.	$	16,600,000		$	19,400,000		$	18,400,000		$	16,985,400		$	—
J.P. Morgan Securities Inc.	$	16,600,000		$	19,400,000		$	18,400,000		$	16,985,400		$	—
Lehman Brothers Inc.	$	16,600,000		$	19,400,000		$	18,400,000		$	16,985,400		$	—
Morgan Stanley & Co. Incorporated	$	16,600,000		$	19,400,000		$	18,400,000		$	16,985,400		$	—
Greenwich Capital Markets, Inc.	$	16,600,000		$	19,400,000		$	18,400,000		$	16,985,400		$	—
Total Amount	$	279,000,000		$	325,000,000		$	308,000,000		$	283,090,000		$	54,910,000
5.      Purchase Price, Discounts and Concessions
	Class A-1			Class A-2			Class A-3			Class A-4			Class B
Gross Purchase Price		100.000000	%		99.998900	%		99.991360	%		100.000000	%		99.991370	%
Underwriting Discount		0.090000	%		0.130000	%		0.165000	%		0.200000	%		0.300000	%
Net Purchase Price		99.910000	%		99.868900	%		99.826360	%		99.800000	%		99.691370	%
Maximum Dealer Selling Concessions		0.054000	%		0.078000	%		0.099000	%		0.120000	%		0.180000	%
Maximum Dealer Reallowance Discounts		0.027000	%		0.039000	%		0.050000	%		0.060000	%		0.090000	%

6. Time of Sale

11:45 a.m. (Eastern Time) (U.S.) on June 14, 2007 (the time the first Contract of Sale was entered into as designated by the Representatives.)

7. Closing Date

Pursuant to Rule 15c6-1(d) under the Securities Exchange Act of 1934, as amended, the Underwriters, the Seller and COAF hereby agree that the Closing Date shall be June 28, 2007, 10:00 a.m., New York City time.

The Underwriters agree, severally and not jointly, to purchase the Notes subject to the terms and provisions of this Terms Agreement and the above-referenced Underwriting Agreement which is incorporated herein in its entirety and made a part hereof.

DEUTSCHE BANK SECURITIES INC.
By	/s/ Rick Koppenhaver
Name:	Rick Koppenhaver
Title:	Director
By	/s/ Jay Steiner
Name:	Jay Steiner
Title:	Managing Director
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
By	/s/ Lisa Waller
Name:	Lisa Waller
Title:	Authorized Signatory

For themselves and as representatives of the other several Underwriters named in this Terms Agreement.

S-1 Terms Agreement

Accepted and Agreed:

CAPITAL ONE AUTO RECEIVABLES, LLC, as Seller
By	/s/ Richard Johns
Name:	Richard Johns
Title:	Assistant Vice President
CAPITAL ONE AUTO FINANCE, INC.
By	/s/ Jerry Hamstead
Name:	Jerry Hamstead
Title:	Assistant Vice President

S-2 Terms Agreement