Chase

Chase Logo

6.6

Overall Score

33 User Reviews

a month ago

Chase

Get a .50% APR discount if you have a Chase checking account.

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Chase, which is the consumer and commercial banking arm of JPMorgan Chase & Co., has been offering banking, investment, credit, and mortgage services since 1982. Chase's auto financing branch offers competitive rates on loans for new or used cars, as well as a variety of refinancing options for currently-owned vehicles.

The Good

  • Co-signer options
  • Financial tools
  • Discounts for customers with a checking account

Co-signer Options

Chase accepts co-signers on all car loans, which is a benefit for individuals with little established credit or for couples who want to apply together. This can help improve the odds of loan approval, or of receiving better APR on an auto loan.

Loan Calculator

The Chase loan calculator offers users the capability to compare three different loan options at once. This helps users to assess which loan is best for their financial needs; users can simply plug in a few numbers and see their results.

Customer Discount

Borrowers who are approved for a Chase car loan will receive a .5 percent APR discount if they have a checking account with Chase. This is a great discount for members, or for people who would like to become Chase members.

The Bad

  • Personal use vehicles only
  • No recreational vehicles
  • Must have an open Chase account

Restrictions

Chase will not finance cars that will be used for racing, taxi, chauffeur, limousine, or other commercial purposes. Chase also does not offer loans for motorcycles, boats, or RVs. Borrowers who want to finance a recreational vehicle or a car to be used for work purposes will need to opt for another lender.

Disadvantages

Chase requires all car loan applicants to have a current, open Chase account. This means that borrowers will need to open a Chase banking account before they can qualify for a Chase auto loan. Unlike most of the other lenders we reviewed, which can notify borrowers of approval within minutes, Chase's approval can take up to 24 hours. This may create a delay for borrowers who are hoping to expedite the approval and funding process.

Lack of Transparency

Chase is also lacking a great deal of information we expect to see on auto loan company websites. This information is important to customers who are shopping around for the best company that fits their needs. It is also difficult for our team to rank Chase with other companies in the auto loan industry without this information. We would like to see more transparency regarding application fees, APR, early-pay penalty fees, and bad credit loan options.

The Bottom Line

Chase offers APR discounts, co-signer options, and great financial tools on their website. However, Chase requires customers to be members, approval may take up to 24 hours, and they lack a great deal of information. Because of these reasons, we cannot recommend working with Chase for auto loans at this time.

*The information and rates we found were accurate as of January 12, 2017.

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User Reviews

4.1

33 Reviews

Your trust is our top priority, so we check all reviews for accuracy and relevance. Additionally, we do not allow companies to alter or remove reviews. Learn more

Sort by:
Ron Durfey
August 27th, 2018 Pleasant Grove, UT

Have no complaints with this service. They did fine in providing my loan for my car. The interest was fair and had no issues.

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Chris Alonzo
July 16th, 2018 Gilbert, AZ DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

I received ed My first car loan from Chase. Their customer service was exceptional and when I finally Made my last payment the customer service rep was very excited with me. It felt more like a family based service and they were always willing to help me when I needed It throughout the loan. This was definitely a great experience when buying your first car.

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Kaleb Herbert
July 9th, 2018 Gilbert, AZ

This was the easiest car loan process I ever had. It was all done through the mail, and I received a lower interest because I was a bank customer and even lower because I had my payment directly paid out of my account. Everything was finalized in about 5 days.

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Julie Martinez
July 5th, 2018 Mesa, AZ

They make paying the loan very efficient and low interest rate!

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Troy Siren
July 2nd, 2018 Gilbert, AZ

Got a great rate on a new car. Couldn’t be more happy!

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Georgianna Powers
June 18th, 2018 Lemon Grove, CA DETAILS
Value for your money
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Company trustworthiness

It's such a big company, and mortgages get sold, so we did not start out with Chase. Impersonal.

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David D Sutherland
June 18th, 2018 Vancouver, WA DETAILS
Value for your money
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Company trustworthiness

The person I work with at Chase regarding my home loan is excellent.

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David Fowler
June 18th, 2018 Mineral Ridge, OH DETAILS
Value for your money
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terrible aqqt communications, hard to reach the right person

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Joanna Hester
June 18th, 2018 Gilbert, AZ DETAILS
Value for your money
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Company trustworthiness

We do all our banking with Chase....personal, business, and most recently, a car loan. The process was fast and easy, and we got a great rate. I love having everything at one bank and love the smiles and customer service I receive whenever I go there.

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Howard Friedman
June 13th, 2018 DETAILS
Value for your money
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outstanding and timely answers to credit request

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Roy
June 13th, 2018 DETAILS
Value for your money
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Refund not given once loan was paid in full ahead of time by 9 months

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Amy Crawley
June 5th, 2018 Draper, UT DETAILS
Value for your money
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Excellent customer service and banking services.

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CAROLE SCOVILLE
May 29th, 2018 Pleasant Grove, UT DETAILS
Value for your money
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Love the online car loan! Paid it off early and didn't have to do tons of paperwork etc. I love doing all my banking online!

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Carolyn Redfearn
May 17th, 2018 DETAILS
Value for your money
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Very professional, customer service very helpful, services very varied

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James E. Jones
May 17th, 2018 DETAILS
Value for your money
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Company trustworthiness

They do a good job with the handling of my loan

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Timothy Chin
May 17th, 2018 DETAILS
Value for your money
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Straight forward and online access is convenient.

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Anonymous
May 17th, 2018 DETAILS
Value for your money
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Interest rate, and Chase is not a good company

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Christina Amato
May 17th, 2018 DETAILS
Value for your money
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Easy to pay on my phone. Never even have to think about it. I can check the balance of my loan at any time.

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Erika Lamoureaux
May 17th, 2018 DETAILS
Customer service
Company trustworthiness

I write my check every month, they cash it. I'm not sure how I feel about them.

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Dave R.
May 7th, 2018 DETAILS
Value for your money
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Company trustworthiness

0% interest for 60 months on a new Auto loan

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Alexander Ferenczy
May 7th, 2018 DETAILS
Value for your money
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Company trustworthiness

I have beena regular Chase customer since the 1960's. My first checking account as a teen was with them. I'm now a retired physician and only run low six figures through my accounts at this time. A month ago, I was co-signer for an auto loan purchase. The other co-signer, whom I treat as my adopted grandson, is a gainfully employed, black man in his early 20s, and naturally has little credit history. I was hoping to help him establish a solid credit score by co-signing and allowing him to pay off the loan. In spite of my triple agency credit index being over 800, Chase , to my absolute DISGUST, denied the loan. Please, DO share this with Chase. I am sharing it with every medical, nursing, therapy and hospital administrative colleague I know.

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Rick Galliher
May 7th, 2018 DETAILS
Value for your money
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Company trustworthiness

haven't had a car loan in years, but Chase offered 0% so how could we not?

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Patty Miles
May 7th, 2018 DETAILS
Value for your money
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anytime i've had a problem they are right on top of things to resolve any problems

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Friend
May 7th, 2018 DETAILS
Value for your money
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Company trustworthiness

It's hard to log in and the auto pay options are not clear.,

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Cambraia
May 7th, 2018 DETAILS
Value for your money
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Company trustworthiness

nothing special. Banks are all the same meaning just want your money and give almost nothing in return

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Aaron L
May 7th, 2018 DETAILS
Value for your money
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Company trustworthiness

account connected to my checking/savings and chase credit cards - one stop shop on the website and especially in the great mobile app

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TEDDY KONUGKIS
May 7th, 2018 DETAILS
Value for your money
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Company trustworthiness

Effortless service in getting product also when car loan is paid off you receive the closing documents without having to hunt them down.

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Anonymous
May 7th, 2018 DETAILS
Value for your money
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Company trustworthiness

Customer Service was good and decent loan rates

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Robyn Rhoton
April 24th, 2018 Alpine, UT DETAILS
Value for your money
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Company trustworthiness

I have used Chase for a car loan through my local dealer. I have set up automatic bill pay each month and it is nice to not have to worry about my payment each month.

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Jeff Martin
April 19th, 2018 Layton, UT DETAILS
Value for your money
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Company trustworthiness

Was with Chase for a number of years and I don't have any complaints. Friendly staff that would always remember my name and efficient banking.

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Michael
April 16th, 2018 Ogden, UT DETAILS
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Great bank. Loan office was very friendly

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William
December 14th, 2017 South Jordan, UT DETAILS
Value for your money
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Company trustworthiness

Chase is a pretty good bank. They offer a lot of options and minimal fees.

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lawrence Tommer
August 14th, 2017 Kent, WA

Never let me down always dependable always there for me

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