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  Chase Auto Finance

Chase Auto Finance

in Auto Loans from Chase Bank

Claimed

Chase Auto Finance

Claimed

in Auto Loans from Chase Bank

SuperMoney Net Recommendation Score -56

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -56, equating to 1.9 on a 5 point rating scale.

-56

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly not recommended

7 users recommend
6 users are unsure
32 users don't recommend
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Highlights
Community Rating Strongly not recommended
Credit Score Range 650 - 850
Loan Amount $4,000 - $600,000
APR  (Fixed APR) 2.99% - 24.99%
Loan Term (Months) Up to 72 months
Number of Reviews 45

Chase Auto Finance Review

Chase Auto Finance is offered by Chase Bank, a bank founded in 1877 and based in New York, NY. Chase Auto Finance is available in 50 states (and Washington, DC).

Chase Auto finance FAQ

How much can you borrow via Chase Auto finance?

Chase Auto finance loan amounts start at $4,000 and go up to $600,000.

What APR does Chase Auto finance offer on its car loans?

Chase Auto finance offers a fixed apr car loan product that ranges from 2.99% APR up to 24.99% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

What is the maximum auto loan term you can get with Chase Auto finance?

Chase Auto finance has car loans with a maximum term of 72 months. Having the option of longer terms allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your car loan, the more interest you will pay.

Does Chase Auto finance charge an origination fee?

Yes, Chase Auto finance may charge a loan origination fee.

Does Chase Auto finance charge a late fee?

Yes, Chase Auto finance charges borrowers with a late payment penatly fee

Does Chase Auto finance charge prepayment fees?

Yes, Chase Auto finance does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my Chase Auto finance loan?

Yes, you can. However, Chase Auto finance charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.

What do you need to qualify for Chase Auto Finance?

Applicants with a credit score of at least 650 and up to 850 may be eligible for Chase Auto Finance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Chase Auto Finance does not have or does not disclose a minimum annual income eligibility requirement. Chase Auto Finance only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Chase Auto Finance. Their rates fall within the limits of The Military Lending Act.

Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Recent pay stubs
  • Driver's license
  • Proof of citizenship or residence permit

What is the estimated funding time for a car loan via Chase Auto finance?

Chase Auto finance will typically fund the car loan within 7 business days of approval.

Chase Auto Finance Disclosure: "Annual Percentage Rates (APR) shown are determined based on the selected dealer state and an estimated loan-to-value ratio of 100%. Loan details are estimates, based on the information you provided, and Chase does not guarantee the results or your ability to receive these terms."
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Chase Bank

Get the banking services help you need with Chase Customer Service. We'll help you find answers to your questions today! We've got tools and information to guide you. We are always focused on helping you succeed.We're proud to serve nearly 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.

It's your road, choose where to go. Shop for cars, explore financing and manage your vehicles. Search local dealerships, view special partner programs and more. View your account, get maintenance & recall information and more.

Message From Our Editor

What We Love About Chase Auto Loans

Chase offers competitive interest rates on auto loans and has a low bar for eligibility. Consumers can get a loan with a fair credit score or higher, and there are no public income requirements listed. Chase doesn’t require an application fee and, in most states, has no origination fee. As with several other auto lenders, it doesn’t have a prepayment fee for those who choose to pay the loan off early.

What Could Chase Do Better?

Not everyone will qualify for Chase’s auto loans. The car in question needs to be no older than five years old and have no more than 75,000 miles on the odometer. The vehicle cannot have been declared a total loss by an insurance company or sold for scrap. The loans also do not apply to those using the vehicle for commercial purposes, including rideshare services. Those with poor credit will also likely not qualify for this particular loan.

Chase Backstory

Chase has a long backstory that goes back to 1877 when John Thompson created chase National Bank. The bank has since gone through many mergers and acquisitions. There are more than 5,100 branches in the United States, and the bank operates in at least 100 countries. As the largest bank in the U.S. in terms of total assets, it can leverage extremely competitive auto loan rates.

The Verdict

 

For many people with fair or better credit, Chase offers auto loans that might be useful. There’s no need to visit a dealership to get a loan, and you may receive better rates. The lender also offers a car buying service to help you find the vehicle you are searching for. Chase’s application process is simple and straightforward. It can be done entirely online.

 

Keep in mind that Chase has eligibility criteria for vehicles, and consumers need to have a certain credit score to qualify. Also, applying for a loan creates a hard credit pull, which can negatively affect your credit score.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Application Fee $0
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Cosigner
Maximum Vehicle Age 10
Military Status
  • Active Duty Military
  • Non-Military
Minimum Age 18
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
Credit Score Range 650 - 850
Loan Amount $4,000 - $600,000
APR (Fixed APR) 2.99% - 24.99%
Loan Term Up to 72 months

Chase Auto Finance Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -56, equating to 1.9 on a 5 point rating scale.

-56

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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