Appealing to borrowers who prefer to bank with big name lenders, Chase offers flexible loan terms on auto loans ranging from $4,000 to $600,000. Choosing Chase means you will purchase your new or used vehicle from within its dealer network.
Chase Auto Loans
As a big name bank, Chase serves almost half of America’s households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co.
So, what does it offer in terms of auto financing? If you choose Chase as your lender, you could opt for financing on a new or used vehicle, or refinancing on your existing auto loan. Chase auto loans range from $4,000 to $600,000, with loan terms ranging from 12 months to 84 months. However, the loan you are approved for will be determined by factors such as your income and credit.
While Chase does not specify a minimum credit score to apply, your credit will affect the amount you pay in interest. To get an idea of the rate you will pay, you can use Chase’s Auto Loan Rate Calculator, which is designed to provide an estimate on your rate and monthly payments.
It’s also worth bearing in mind that to make use of Chase auto finance, you will need to purchase a vehicle within Chase’s dealer network. You can use the Dealer Locator to find a dealer and browse your options. Know that you will need to know the make, model and trim of the vehicle you want to purchase before you apply, so it’s best to shop around before committing to your loan.
If you choose to finance your vehicle purchase with Chase, be aware that the following vehicles are not eligible for financing:
• Vehicles older than 10 calendar years,
• Vehicles with more than 120,000 miles,
• Commercial vehicles,
• Salvaged or branded title vehicles,
• Vehicles that are not titled or registered in one of the 50 United States or District of Columbia,
• Vehicle usage for taxis, limousines, ride share, Uber, Lyft, etc.
• Motorcycles, recreation vehicles (RV), boats or aircraft,
• Certain exotic makes.
What You Need To Know
• Chase offers loans between $4,000 to $600,000, with loan terms ranging from 12 months to 84 months.
• You can benefit from competitive rates, with discounts available to certain types of Chase customers.
• You can finance a new or used vehicle purchased from the Chase dealer network, or refinance your existing auto loan.
• You will not pay an application fee.
• You do not have to provide a down payment, but doing so may make your loan more manageable.
• You can apply for a Chase auto loan alone or with another applicant.
• To be eligible, you must be 18 years or older to apply (Residents of Alabama have state-specific requirements for 17 and 18 year old applicants).
• When you apply, you will usually receive a decision with 2-3 hours.
• Once you receive your decision, you will have 30 days to purchase your vehicle. Simply print your approval details or show the dealer your approval email. The dealer will then use this information to look you up in their system so you can complete your financing.