Chase auto loans can provide you with the money you need to get a new or used car at low rates, if you qualify.
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What is a Chase auto loan?
Chase offers auto loans that can help you purchasing your next vehicle. 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.
|Product name||Chase auto loan|
|Interest rate||As low as 2.59%, but varies by creditworthiness|
|Minimum loan term||48 months|
|Maximum loan term||72 months|
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What are the benefits of Chase auto loans?
- Low interest. Depending on your creditworthiness, you could pay less than what you’ll find at other banks.
- High maximum amount. Chase decides how much you can borrow based on your ability to pay back the loan.
- Customer discounts. Existing Chase customers can get a 0.25% savings on interest rates.
- Reputable institution. Chase is one of the largest financial institutions in the country.
- Highly accessible. Access Chase’s services at more than 5,000 branches in the US.
What to watch out for
Chase offers competitive rates, but 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 a loan.
The shortest term length for a Chase auto loan 48 months, so interest can add up over four years if you make minimum payments only.
Am I eligible?
How much you ultimately receive for your auto loan depends on your income, your overall creditworthiness and the vehicle you want to buy.
For approval, you must:
- Be at least 18 years old.
- Submit proof that you are US citizen or permanent resident.
- Submit proof of your source of income.
I got a Chase auto loan. Now what?
You got your Chase auto loan and are now ready buy the car you want.
A few things to keep in mind:
- Set up automatic payments. Avoid late payment fees by arranging automatic withdrawals from a Chase or another bank account.
- Pay more than the minimum. To avoid excessive interest charges over the life of your auto loan, consider paying more than the amount required each month.
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.