Advertiser Disclosure

JPMorgan Chase & Co. is a multinational bank that offers a wide variety of financial services, including Chase auto loans for purchasing new and used vehicles. In this review, we’ll take a close look at this company and explore loan details, the application process, and Chase auto loan reviews from customers.

If you’re trying to purchase a vehicle, finding the right auto loan can save you thousands of dollars in the long run. Read our review of the best auto loans to learn more about all your vehicle financing options.

Lending Partner
Loan Term
Min. APR
Min. Credit Score
Highlights
Loan Term 24-84 Months
APR 2.24%
Credit Score 575
Highlights
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
Loan Term 48-84 Months
APR 1.99%
Credit Score 550
Highlights
  • Average monthly savings of $150
  • Work with a personal loan concierge to compare options
  • A+ BBB Rating
Loan Term 36-72 Months
APR 2.91%
Credit Score 640
Highlights
  • Apply online in minutes
  • A leading provider in refinance loans
  • A+ BBB rating
Loan Term Up to 84 Months
APR 3.2%
Credit Score 580
Highlights
  • Get approved in as little as 60 seconds
  • All credit types gladly accepted
  • Absolutely no obligation

 

Loan Term Up to 72 Months
APR Varies
Credit Score 500
Highlights
  • Great for customers with limited/no credit
  • Offers special military rates
  • A+ BBB rating
Loan Term 24-84 Months
APR 1.99%
Credit Score 575
Highlights
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
Loan Term 24-84 Months
APR 2.24%
Credit Score 575
Highlights
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
Loan Term 36-84 Months
APR 1.99%
Credit Score 560
Highlights
  • Average monthly savings of $145
  • Online Application
  • Browse loan options found specifically for you
Loan Term Up to 72 Months
APR Varies
Credit Score 500
Highlights
  • Great for customers with limited/no credit
  • Offers special military rates
  • A+ BBB rating
Loan Term Up to 84 Months
APR 2.49%
Credit Score 500
Highlights
  • Specializes in auto refinancing
  • A+ BBB Rating
  • No application fee

All APR figures last updated on 9/1/2022 - please check partner site for latest details. Rate may vary based on credit score, credit history and loan term.

In This Review:
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    Chase Auto Loan Review: 4.3 Stars

    While Chase auto loans do not have the lowest interest rates we have seen, the company does offer competitive rates. Plus, the Chase Auto Preferred program can make Chase your one-stop shop for finding an auto loan and purchasing a vehicle.

    Chase is an established bank with many resources that may be useful for Chase loan customers. While some drivers have reported issues with their Chase auto loans, these represent a small fraction (less than one percent) of overall customers.

    Our Rating4.3
    Loan Details4.2
    Loan Availability4.5
    Application Process4.5
    Customer Service3.2

    Chase Auto Loan Pros and Cons

    Chase Auto Loan ProsChase Auto Loan Cons
    No extra feesNo financing for commercial vehicles or vehicles more than 10 years old
    High loan amounts for customers with strong creditNo loans for motorcycles, boats, or recreational vehicles (RVs)
    Can complete your auto purchase entirely through Chase (and entirely online)No refinancing loans

    If you are looking to purchase a car, there’s no harm in applying for prequalification with Chase. You can also compare auto loan offers from other top lenders.

    About Chase Bank

    JPMorgan Chase & Co. has roots stretching all the way back to 1799, making it one of the best-established financial companies in the United States. The company is currently headquartered in New York, N.Y., but has branches and ATMs in every state in the U.S.

    Chase Bank auto loan options include loans for purchasing new and used cars. Chase also offers a car buying service online. Be aware that Chase Bank does not offer auto refinancing loans or loans for private party sales at this time. The company currently holds an A- rating from the Better Business Bureau (BBB).

    Chase Auto Loan Details

    Chase auto loans are available for purchases of new and used cars. Compared to the best loan providers, Chase auto loans come with slightly higher annual percentage rates (APRs), but one nice feature is that there are no fees for application, prepayment, or origination. A summary of key loan details is outlined in the chart below.

    Chase Auto Loan Details
    Minimum Loan Amount$4,000
    APRAs low as 3.49%
    Loan Term Length12 to 84 months
    Origination FeeNone ($195 in OH and IN)
    Prepayment PenaltyNone
    Application FeeNone

    You can get a Chase auto loan with no down payment. However, making a down payment and especially a larger down payment can result in a lower interest rate and ultimately decrease the final cost of your loan. Chase offers a payment calculator on its website to help you get a better idea of what you might pay.

    Chase Auto Loan Rates

    While Chase offers competitive rates starting at 3.49 percent, those aren’t the lowest rates available. According to Experian’s State of the Automotive Finance Market report (Quarter 2, 2021), borrowers with scores above 780 found APRs of 2.34 percent on average. That’s quite a bit lower than Chase’s best auto loan rate.

    Chase Auto Loan Minimum Qualifications

    Chase does not mention any credit score or income requirements. However, this is no guarantee that every person will qualify for a Chase auto loan. The higher your income and the better your credit score, the better your loan offer will be. You can use a cosigner to improve your chances of getting a better rate. Make sure they know their score could be impacted if you miss a monthly payment, though.

    Chase Auto Loan Excluded Vehicles

    The following types of vehicles are not eligible for Chase auto loan financing:

    • Vehicles more than 10 calendar years old
    • Vehicles with more than 120,000 miles on the odometer
    • Commercial vehicles
    • Salvage or branded-title vehicles
    • Vehicles not titled or registered in the U.S.
    • Vehicles used for rideshare or taxi services
    • Motorcycles, RVs, boats, or aircrafts
    • Certain exotic cars

    Chase Auto Loan Perks

    There are a few benefits that come with using a large national bank for auto financing. For example, you can take advantage of the Chase mobile app to manage your auto account from your phone.

    Chase.com also offers an online auto account resource center that includes instructions for setting up automatic payments from a Chase checking account or external account, starting paperless statements, or setting alerts for paying your bill.

    Because Chase is a huge FDIC-member financial institution, it offers just about every financial product available. If doing most or all of your banking in one place sounds convenient, you can easily apply for one of the company’s credit cards, checking accounts, mortgages, and more with Chase online.

    Chase Auto Loan Application Process

    The first step to applying for a Chase auto loan is called prequalification. Many loan providers have a prequalification stage. To prequalify, you will need to provide Chase with your name, address, income, and the last four digits of your social security number. There is no fee for prequalification or application.

    Chase does not mention a minimum required credit score, and prequalification does not require a hard credit check. This means that your credit score will not be affected just for applying. After completing prequalification, Chase can give you an idea of the loan amount for which you qualify and an expected interest rate.

    Documents Needed To Apply For Chase Auto Financing

    If you decide to accept a Chase auto loan offer, you will need to give the company more information and documentation before you receive final approval. This step will require a hard check of your credit history. Be ready to provide your:

    • Full social security number
    • Employment information
    • Income information
    • Vehicle make and model
    • Vehicle identification number (VIN)

    Chase Auto Preferred Car Buying Service

    One standout feature of the Chase auto loan program is that you can actually complete the vehicle purchase process through the company. Customers can prequalify for a loan, browse the inventory of participating dealerships, and buy their new vehicle entirely through Chase.

    You don’t need a Chase bank account to participate in the car buying service. You can simply log on and search local dealer inventory for new and used cars by style or specific make and model.

    When you settle on a car you want and move forward, a Chase concierge from a local dealership will help with your purchase process. While it is not necessary to take advantage of this option to get a Chase auto loan, it allows customers to shop for cars from home and even schedule test drives and car deliveries. Furthermore, customers using this service can get discounted pricing on certain vehicles.

    Only sign up for Chase Auto Preferred if you are ready to purchase a car within the next 30 days.

    Chase Customer Reviews And Reputation

    While JPMorgan Chase & Co. has an A- BBB score, it is not accredited, and customer reviews are not very positive. The BBB customer score is at a very low 1.1 out of 5 stars. However, this is based on a relatively small number of reviews (less than 400). Given that Chase customers number in the millions, this score represents only a tiny fraction of Chase users.

    The customers who have complained on the BBB website mention declined payments and delays in mailing their vehicle title after their loan is paid off. Positive Chase reviews typically praise Chase banking services and fraud detection.

    Chase Car Loan Reviews: Conclusion

    In this article, we gave chase car loans 4.3 out of 5.0 stars for their competitive rates and great application process. Along with this review, we guided you through chase auto loan details, services, and customer reviews. Before picking an auto loan provider we urge you to compare and weigh your options.

    Lending Partner
    Loan Term
    Min. APR
    Min. Credit Score
    Highlights
    Loan Term 24-84 Months
    APR 2.24%
    Credit Score 575
    Highlights
    • Below-average credit scores accepted
    • Great interest rates
    • Smooth and easy online experience
    Loan Term 48-84 Months
    APR 1.99%
    Credit Score 550
    Highlights
    • Average monthly savings of $150
    • Work with a personal loan concierge to compare options
    • A+ BBB Rating
    Loan Term 36-72 Months
    APR 2.91%
    Credit Score 640
    Highlights
    • Apply online in minutes
    • A leading provider in refinance loans
    • A+ BBB rating
    Loan Term Up to 84 Months
    APR 3.2%
    Credit Score 580
    Highlights
    • Get approved in as little as 60 seconds
    • All credit types gladly accepted
    • Absolutely no obligation

     

    Loan Term Up to 72 Months
    APR Varies
    Credit Score 500
    Highlights
    • Great for customers with limited/no credit
    • Offers special military rates
    • A+ BBB rating
    Loan Term 24-84 Months
    APR 1.99%
    Credit Score 575
    Highlights
    • Below-average credit scores accepted
    • Great interest rates
    • Smooth and easy online experience
    Loan Term 24-84 Months
    APR 2.24%
    Credit Score 575
    Highlights
    • Below-average credit scores accepted
    • Great interest rates
    • Smooth and easy online experience
    Loan Term 36-84 Months
    APR 1.99%
    Credit Score 560
    Highlights
    • Average monthly savings of $145
    • Online Application
    • Browse loan options found specifically for you
    Loan Term Up to 72 Months
    APR Varies
    Credit Score 500
    Highlights
    • Great for customers with limited/no credit
    • Offers special military rates
    • A+ BBB rating
    Loan Term Up to 84 Months
    APR 2.49%
    Credit Score 500
    Highlights
    • Specializes in auto refinancing
    • A+ BBB Rating
    • No application fee

    All APR figures last updated on 9/1/2022 - please check partner site for latest details. Rate may vary based on credit score, credit history and loan term.

    Chase Bank Car Loan: FAQ

    Below are a few frequently asked questions about chase bank car loans:

    Frequently Asked Questions