CAPITAL ONE AUTO FINANCE TRUST 2006-B ASSET BACKED NOTES TERMS AGREEMENT

Exhibit 1.2

CAPITAL ONE AUTO FINANCE TRUST 2006-B

ASSET BACKED NOTES

TERMS AGREEMENT

             Dated: July 27, 2006

To: CAPITAL ONE AUTO FINANCE, INC.

CAPITAL ONE AUTO RECEIVABLES, LLC

Re: Underwriting Agreement, dated July 24, 2006

1. Terms of the Notes

Class		Initial Note Balance		Interest Rate			Final Scheduled Payment Date
Class A-1 Notes		$444,000,000		5.47963	%		August 2007 Payment Date
Class A-2		$502,000,000		5.53	%		May 2009 Payment Date
Class A-3-A Notes		$442,500,000		5.45	%		February 2011 Payment Date
Class A-3-B Notes		$442,500,000		LIBOR			February 2011 Payment Date
Class A-4 Notes		$669,000,000		LIBOR+ 0.015	%		July 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.

Barclays Capital Inc.

Deutsche Bank Securities Inc.

Banc of America Securities LLC

Credit Suisse Securities (USA) LLC

Xxxxxx Brothers Inc.

RBC Capital Markets Corporation

Wachovia Capital Markets, LLC

3. Ratings

Class		Rating Agency
		Standard & Poor’s		Xxxxx’x		Fitch
A-1		A-1+		Prime-1		F1+
A-2		AAA		Aaa		AAA
A-3-A		AAA		Aaa		AAA
A-3-B		AAA		Aaa		AAA
A-4		AAA		Aaa		AAA

4. Underwriting Liability

Underwriting Liability		Class A-1			Class A-2			Class A-3-A			Class A-3-B			Class A-4
Barclays Capital Inc.		$	64,000,000		$	72,000,000		$	63,500,000		$	63,500,000		$	96,000,000
Deutsche Bank Securities Inc.		$	64,000,000		$	72,000,000		$	63,500,000		$	63,500,000		$	96,000,000
Banc of America Securities LLC		$	63,200,000		$	71,600,000		$	63,100,000		$	63,100,000		$	95,400,000
Credit Suisse Securities (USA) LLC		$	63,200,000		$	71,600,000		$	63,100,000		$	63,100,000		$	95,400,000
Xxxxxx Brothers Inc.		$	63,200,000		$	71,600,000		$	63,100,000		$	63,100,000		$	95,400,000
RBC Capital Markets Corporation		$	63,200,000		$	71,600,000		$	63,100,000		$	63,100,000		$	95,400,000
Wachovia Capital Markets, LLC		$	63,200,000		$	71,600,000		$	63,100,000		$	63,100,000		$	95,400,000
Total Amount		$	444,000,000		$	502,000,000		$	442,500,000		$	442,500,000		$	669,000,000

5. Purchase Price, Discounts and Concessions

		Class A-1			Class A-2			Class X-0-X			Xxxxx X-0-X			Xxxxx X-0
Xxxxx Xxxxxxxx Price		100.000000	%		99.992298	%		99.992919	%		100.000000	%		100.000000	%
Underwriting Discount		0.090000	%		0.130000	%		0.165000	%		0.165000	%		0.210000	%
Net Purchase Price		99.910000	%		99.862298	%		99.827919	%		99.835000	%		99.790000	%
Maximum Dealer Selling Concessions		0.054000	%		0.078000	%		0.099000	%		0.099000	%		0.126000	%
Maximum Dealer Reallowance Discounts		0.027000	%		0.039000	%		0.050000	%		0.050000	%		0.063000	%

6. Time of Sale

12:00 noon (Eastern Time) (U.S.) on July 27, 2006 (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 August 4, 2006, 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.

BARCLAYS CAPITAL INC.
By:		/s/ Xxxx Xxxxxxx
Name:		Xxxx Xxxxxxx
Title:		Director
DEUTSCHE BANK SECURITIES INC.
By:		/s/ Xxxx Xxxxxxxxxxx
Name:		Xxxx Xxxxxxxxxxx
Title:		Vice President
By:		/s/ Xxxxxxxxx X. Xxxxxx
Name:		Xxxxxxxxx X. Xxxxxx
Title:		Director

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

Accepted and Agreed:

CAPITAL ONE AUTO RECEIVABLES, LLC, as Seller
By:		/s/ Xxxxx Xxxxxxxx
Name:		Xxxxx Xxxxxxxx
Title:		Assistant Vice President
CAPITAL ONE AUTO FINANCE, INC.
By:		/s/ Xxxxxx X. Xxxxxx
Name:		Xxxxxx X. Xxxxxx
Title:		Assistant Vice President