Kiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their fina.
Kiah Treece Loans WriterKiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their fina.
Written By Kiah Treece Loans WriterKiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their fina.
Kiah Treece Loans WriterKiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their fina.
Loans Writer Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
| Loans & Mortgages Editor
Updated: Jan 4, 2024, 9:17am
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Chase auto loans are available for new and used vehicles that are purchased from a dealer within the lender’s network; they don’t offer auto refinancing or financing for a purchase from a private seller. Loan amounts range from $4,000 to $600,000 and interest rates start around 3.5% for borrowers with excellent credit, but the lender doesn’t disclose maximum rates. Chase also doesn’t disclose minimum qualification requirements like credit score and income.
Chase Bank offers a prequalification process which allows you to see if you might qualify without affecting your credit. So, if you’re looking for a new car, consider using its digital car-buying tool to find an eligible vehicle and see if you’ll prequalify for a loan.
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
Interest Rate Loan amount $4,000 to $600,000 Credit ScoreChase Bank offers auto loans in addition to a wide range of financial services, including checking and savings accounts, credit cards and home loans. Auto loans are available from $4,000 to $600,000 for new vehicles and used vehicles not more than 10 years of age.
Rates vary based on credit history, loan term, loan amount, debt-to-income (DTI) ratio, age of vehicle, current market rates and down payment amount (though no down payment is required).
Cars must be purchased from one of the thousands of dealers in the Chase network, and the financing of private seller vehicles is not available. However, Chase does provide a digital car-buying service that can help drivers find their next vehicle.
Here are the main types of auto loans offered by Chase:
To qualify for a new car loan through Chase, the vehicle must be from the current year or two preceding years. For example, drivers in 2022 can finance a 2023, 2022 or 2021 vehicle with Chase’s new car rates. Chase auto loans also are not available for vehicles purchased from private sellers.
For borrowers with excellent credit, rates start around 3.5%, but Chase doesn’t disclose its maximum rates. Terms are available from 12 to 84 months, and no down payment is required.
Chase also finances the purchase of used cars from its network of dealers. To be eligible for financing, vehicles cannot be more than 10 years old. As with new car loans, borrowers have access to terms from 12 to 84 months with no down payment.
Chase offers a lease buyout program for customers who finance through its private label partnerships with Aston Martin, Maserati, Jaguar Land Rover, Subaru and McLaren. Drivers can opt to buy the vehicle outright or convert it to a loan product through Chase.
Get up to 4 loan offers in minutes at myAutoloan.com.
Chase doesn’t disclose credit or underwriting criteria for its auto loans online. This includes minimum credit score, credit history and income. However, to improve your chances of qualifying for a Chase auto loan, we recommend a credit score of at least 620.
Chase doesn’t charge borrowers any application fees or prepayment penalties if they pay off their vehicle before the end of the loan term.
There are two ways to use Chase to finance a vehicle purchase—through Chase’s digital car-buying tool or by applying directly through a network dealer.
The process varies slightly for each, but these are the general steps to follow when applying for a Chase auto loan:
If your application is turned down, contact the lender to determine why it was denied. Depending on the reason, you can:
Current Chase borrowers can contact customer support via mail or telephone, and the lender offers separate phone lines for loans and leases. That said, the Chase website doesn’t provide hours during which customer support can be reached by phone. Customers also can contact a service representative via secure email form by logging into their Chase account online.
Chase also offers several self-service options that enable borrowers to make payments and complete other actions online. The Chase website offers a library of frequently asked questions and video tutorials, though these appear to be primarily focused on Chase’s other financial products and services.
As of July 26, 2022, Chase Auto Finance has an A- Better Business Bureau (BBB) rating and is not BBB accredited. Reviews on the site have awarded the lender 1.1 out of 5 stars based on 468 customer reviews.
Most reviews are for JP Morgan Chase & Co., the lender’s parent company, but some speak directly to the company’s auto lending services. Dissatisfied customers report that customer service representatives are unhelpful and lack adequate knowledge of state-specific rules. Others report slow response times and missing title documents.
We reviewed Chase based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated Chase based on the weighting assigned to each category:
Within each major category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges, applicable fees and available discounts. We also looked at minimum credit score requirements, maximum accepted mileages, whether each lender accepts co-signers or co-borrowers and the geographic availability of the lender.
Finally, we evaluated Chase’s customer support tools, borrower perks and features that simplify the borrowing process—like online application options, mobile apps and turnaround time.
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