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finder.com’s rating: 3.5 / 5.0
★★★★★
With an easy online application, discounts for existing Chase customers and low interest rates, a Chase auto loan could make it easy for you to purchase your next set of wheels. But its long terms might up the overall cost unless you pay it off early.
$7,500
Min. Loan Amount
$10,000
Max. Loan Amount
Starting at 2.59%
APR
Min. Loan Amount | $7,500 |
---|---|
Max. Loan Amount | $10,000 |
APR | Starting at 2.59% |
Interest Rate Type | Fixed |
Requirements | US citizen or permanent resident, Steady source of income, ages 18+ |
You must meet the following criteria to qualify for a Chase auto loan:
Chase also looks at factors like your credit score, credit history and debt-to-income ratio when you apply for a car loan.
Chase auto loans are available in all 50 states.
Chase offers a full car-buying experience to its customers, thanks to its car-buying service powered by TrueCar. You can borrow up to 100% of your car’s value, meaning that you might not need to make a down payment.
Chase offers auto loans to buy either a new or used vehicle from a dealership. Terms range from four to eight years with APR rates as low as 2.59%. However, your creditworthiness will affect the rate you ultimately get.
The rate you get ultimately depends on the car you’re wanting to buy and your overall creditworthiness. Use Chase’s online Payment Calculator to estimate your monthly payments and total interest over the life of the loan.
Adrienne Fuller
Publisher
I took out a Chase auto loan when I purchased a used 2011 Toyota Tacoma at a dealership. I applied for financing through the dealer — not with Chase directly — so my comments are limited to that experience.
I have an excellent credit score and the sales rep offered me an interest rate of 3.8%. When I mentioned this to him, he said, “Well how does 3.2% sound instead?”
It seemed really odd to me that he could modify the offer so easily and makes me wonder how much I left on the table by not negotiating further. It also makes me wonder about the size of the kickback the dealer gets. If I had applied directly through Chase, would my rate have been even lower?
Other than the reservations I have about the interest rate, I do like that the loan was automatically linked to my online Chase account so I can see it when I log in to my Chase credit card account. I use autopay, so I basically set it and forget it, and haven’t had any issues so far regarding payment or customer service.
BBB accredited | No |
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BBB rating | A+ |
BBB customer reviews | 1.1 out of 5 stars, based on 457 customer reviews |
BBB customer complaints | 3,189 customer complaints |
Trustpilot Score | 1.3 out of 5 stars, based on 250 customer reviews |
Customer reviews verified as of | 16 October 2020 |
You can apply for a Chase auto loan online or in person at one of its branches. Before you get started, make sure you meet Chase’s most basic eligibility requirements. Follow these steps to get started online:
It can take up to three business days for Chase to get back to you with information on how to complete the application process.
Depending on what type of car loan you’re applying for, you might be asked to provide the following information:
You got your Chase auto loan and are now ready buy the car you want.
A few things to keep in mind:
Chase auto loans offer competitive rates and discounts for existing customers looking to finance a car.
But to make sure that you’re not missing out on shorter terms or better rates in your area, compare other car loans.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We rate car loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.
Read the full methodology of how we rate car loan providers to get a better picture of what goes into each star rating.
Chase Auto Loans is not currently available on Finder
Have you considered LightStream Auto Loans?
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
4 Comments
September 9, 2019
Can a 48 or 60 month vehicle loan be repaid in full before the expiration?
September 10, 2019
Hi Arne,
Thank you for your comment.
You can pay off your loan whenever you are ready to and there is no pre-payment penalty for doing so. Chase does not charge pre-payment fees even if your contract lists a fee.
Regards,
Jhezelyn
June 24, 2018
What would be acceptable for proof of residence with chase auto loan?
June 24, 2018
Hi Lonny,
Thanks for reaching out to us here!
Potential lenders need to know where you can be found should you cease paying your bills. Utility bills work well for proving your current home address. However, the eligibility requirements solely rely on the lender. You may speak to a Chase Auto Loan representative for more information on this.
Hope this clarifies.
Thanks,
Nikki