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  Chase Auto Refinance

Chase Auto Refinance

in Auto Loan Refinancing from Chase Bank

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Chase Auto Refinance

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Highlights
Credit Score Range 650 - 850
Loan Amount $7,500 - $100,000
APR  (Variable APR) 4.89% - 5.24%
Loan Term (Months) 48 - 72 months

Chase Auto Refinance Review

Chase auto refinance is an auto loan refinance offering by Chase Bank, based in New York, NY. Founded in 1877, Chase Bank offers auto refinance loans in 50 states (and Washington, DC).

Key Takeaways
  • Uses a variable APR. This is uncommon for auto refinaning loans. If interest rates increase in the future it could make it harder to make payments for borrowers who are on a tight budget. Auto refinance loans typically range between 4% and 26%. The starting rates for Chase Auto Refinance are on the lower end of the spectrum.
  • Fair credit accepted. The credit score needed for Chase Auto Refinance is relatively low. Borrowers with a credit score as low as 650 may qualify for Chase Auto Refinance.
  • Vehicle requirements. Vehicles must have less than 120,000 miles and a maximum age of 10 years.
  • Refinancing for large loan amounts. You can refinance auto loans of up to $100,000 with Chase Auto Refinance.
  • Hard credit pull required. You can't check your rates or see if you prequalify for Chase Auto Refinance without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
  • No origination fee. Chase Auto Refinance does not charge an origination fee for processing your loan application.
  • Long loan terms. Chase Auto Refinance offers loan terms of up to 72 months. Most auto refinancing loans have a maximum term of 60 months.
Chase auto refinance Pros & Cons
Pros Cons
  • Low APRs available to qualified borrowers.
  • Available in all 50 states.
  • $0 prepayment fee.
  • $0 origination fee.
  • Considers applicants with fair credit.
  • Considers older vehicles (max. 10 years)
  • Do not offer pre-approval with soft credit pull.
  • Charges a late fee.
Chase auto refinance FAQ

How much can you borrow via Chase auto refinance?

Auto refinance loan amounts start at $7,500 and go up to $100,000.

What are the auto loan refinancing rates offered through Chase auto refinance?

Chase auto refinance offers a car loan refinancing product that ranges from 4.89% APR up to 5.24% APR.

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

Chase auto refinance offers auto refinancing with terms ranging from 48 to 72 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto refinancing loan, the more interest you will pay.

Does Chase auto refinance charge an origination fee on auto refinance loans?

No, Chase auto refinance does not charge a loan origination fee for refinancing a car loan.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount.

Does Chase auto refinance charge a late fee?

Yes, auto refinance loans via Chase auto refinance are subject to late payment penalty fees.

Does Chase auto refinance charge prepayment fees?

No, there is no prepayment penalty.

What do you need to qualify for Chase Auto Refinance?

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

Chase Auto Refinance does not have or does not disclose a minimum annual income eligibility requirement. Chase Auto Refinance only considers borrowers who are employed.

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 Refinance. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Chase Auto Refinance. Permanent resident / green card holders are also eligible to apply.

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

  • Proof of income
  • Driver's license
  • Government issued photo ID
  • Proof of identity
  • Proof of citizenship or residence permit
  • Proof of residence
  • U.S. tax identification number

What is the maximum mileage to refinance with Chase Bank?

Chase Bank is an option for high-mileage vehicles. They will consider car loan applications for vehicles with up to 120000 miles on the odometer.

What is the maximum car age to refinance with Chase Bank?

Only vehicles that are 10 years old or less can qualify for an auto refinance.

Does Chase Auto Refinance report your account activity to credit bureaus?

Yes, Chase Auto Refinance reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

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Message From Chase Auto Refinance

We've made it easy to apply online. Tell us your car and dealer and we'll get you on your way. Get an idea of how much you can finance. It takes minutes and won't impact your credit score.

Message From Our Editor

What We Love About Chase Auto Refinance

Auto refinancing from Chase offers access to one of the largest banks in the United States, which means customers can handle most of their financial needs with one company. Some individuals will find that Chase has great rates compared to their current auto loans and will appreciate the variety of products available. The process of applying for refinancing is simple and can be easily done online.

What Could Chase Do Better?

Not everyone will get the best rates when refinancing using Chase. There are also a handful of requirements to use their auto refinancing, such as loan amount, age, and mileage of the vehicle. Not everyone will meet those requirements, so Chase won’t be the right option for them.

Chase Backstory

Chase is one of the four largest banks in the United States and holds about 39% of all customer deposits in the country. In addition to refinancing, Chase also offers many other products, such as credit cards, investing services, banking, personal loans, and home loans. It’s a well-known company that most will have knowledge of and many will already be used for reasons other than refinancing. 

Chase auto refinance has a three-step system where you check whether you qualify, determine what your savings would be, and then shop around to be certain the company you choose is right for your needs.

The Verdict

Chase could be the right option for some individuals seeking auto loan refinancing, but it’s still important to be aware of all your options. The first step is determining whether refinancing is right for your situation and the second is determining which company gives you a great rate and a convenient system to use for refinancing.

With many requirements by Chase to refinance, some individuals won’t qualify and will not be able to use their services. Others may find that another company has a better rate. The Chase option will fulfill the need of some people, while others are better looking at additional choices on the market.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 9:00am - 1:00pm

Other Services by Chase Bank

Availability

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

Feature Breakdown

No Origination Fee
No Prepayment Fee
Credit Score Range 650 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Maximum Mileage 120,000
Maximum Vehicle Age 10
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Proof of Residence
  • Government Issued Photo ID
  • U.S. Tax Identification Number
  • Social Security Number
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Approval Speed 48 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Options
  • Automatic Payments
  • Check by mail
  • Storefront
  • Credit/Debit Card
  • Bank Transfer
  • Cash
APR (Variable APR) 4.89% - 5.24%
Loan Term 48 - 72 months
Loan Amount $7,500 - $100,000

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