Chase, which is the consumer and commercial banking arm of JPMorgan Chase & Co., offers checking, debit card, investment, credit card, and mortgage services. 

Chase's auto financing branch offers competitive rates on loans for new or used cars, as well as a variety of refinancing options for existing auto loans. More than 3 million customers finance their car with Chase. Here are some quick stats: 

  • Minimum loan amount: $4,000
  • Maximum loan amount: $60,000
  • Available loan terms: 48-72 months

If you have an excellent credit score, annual percentage rates (APRs) start as low as 3.5 percent; however, if you have less than stellar credit history, rates will be higher, up into the twenties.

Whether a customer has to pay an origination fee depends on their state of residence. 

People 18 and older can apply for a loan online to get approval. Application requires a credit check and can, therefore, show up on your credit report. Loan details will be sent to the in-network dealer, where you can present the approval. 

Cash down payments are not required, but of course, this can decrease the total amount of money owed, as well as your monthly payments over the course of your loan term. 

Monthly car payment can be made via automatic payments, via your online account or the Chase mobile app. 

Keep reading for pros and cons, plus Chase auto loan reviews from customers.

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The Good

  • Loan Calculator
  • Co-Signer Financing
  • Customer Refinancing Discount
  • Chase Auto Preferred

Loan Calculator

The Chase loan calculator offers users the capability to compare auto loan rates and 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.

Co-Signer Financing

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.

Customer Refinancing Discount

Borrowers who are approved for a Chase car loan will receive a .25 percent APR discount on a refinancing rate 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.

Chase Auto Preferred

If you are lucky enough to live in Phoenix, consumers can take part in the Chase Auto Preferred program for free, with no deposit. This car buying concierge service is available at 19 participating locations, requires no deposit, and is available with a wide variety of car brands participating:

  • Buick
  • Cadillac
  • Chevrolet
  • Chrysler
  • Dodge
  • Ford
  • Genesis
  • GMC
  • Honda
  • Hyundai
  • Jeep
  • Kia
  • Lexus
  • Ram
  • Toyota
  • Volkswagen

Anyone who wants to buy or lease a car in the Phoenix area can participate. Having an existing Chase account isn’t necessary to participate.

Participants get discounted pricing, a concierge, a dealership employee that is specially assigned to walk you through the process, including test drives and trade-in evaluation, etc.

You will work with the concierge to see your different financial options, including Chase. However, customers aren’t required to use a chase product or service for their car. They can use whichever lender gives them the best loan options.

The Bad

  • Vehicle Financing Restrictions
  • Approval Time
  • Lack of Transparency

Vehicle Financing Restrictions

Chase only finances vehicles at participating dealership partners. It will not finance cars that will be used for racing, taxi, chauffeur, limousine, or other commercial purposes. Chase also does not offer loans for certain vehicle brands, 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.

Approval Time

Unlike most of the other lenders we reviewed, which can notify borrowers of approval within minutes, Chase's approval typically takes 2-3 hours, but the company’s auto finance website says that the credit decision can take up to three business days. This may create a delay for borrowers who are hoping to quickly get approval and head out to the dealership.

Lack of Transparency

Chase is a well-known credit card issuer, but its website is 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 ranges by credit score, as well as early payment and late payment fees.

The Bottom Line

Chase offers several products and services for auto customers. refinancing discounts, co-signer options, and great financial tools on its website.

However, approval may take between a few hours and a few days. Additionally, Chase’s auto finance website lacks a great deal of information about available rates, depending on credit score, and all applicable account fees.

Because of these reasons, we cannot recommend working with Chase auto finance at this time.

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User Reviews

Star Rating

3.9
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37 Reviews

Review Breakdown

5 star
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4 star
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3 star
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Margaret Lamb
September 27th, 2019 Peoria, AZ DETAILS
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I have been trying to renew my registration in a new state and they refuse to send me a power of attorney so I can do it. While it is in my dad's name. He has tried and they still refuse. We have called many times and they gave us many different answers and none are near the others. They even hung up on me today (a lady) because she said she can only speak to my dad. I wanted a question that didn't have to do necessarily with my specific leased car, but in general, and she literally hung up on me in the middle of my sentence. So rude. Never helpful and refuses to allow us to renew our lease. So basically I am forced to either move back to the original state (half across the country) or drive with an expired license plate and registration. Thanks chase, well done with your "excellent" customer service. I will NEVER lease from here again or have any business to do with them again. I will make sure all my family and friends know exactly what this company does and doesn't do and make sure they don't make the same mistake of leasing from this place again. Negative stars. Terrible.

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M
August 19th, 2019 Boca Raton, FL DETAILS
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Leased a Maserati . The lease has ended on 6/22... they charged my account on 7/2 by mistake. Now, 2 months after they still didn’t refund me the money. Every time I’m talking to a different representative, they all say they’ll solve it, but no one does. Do not go with them !

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Kristie Sgambati
November 30th, 2018 Rocklin, CA DETAILS
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I have my car loan with Chase, they have provided excellent customer service and assisted me in direct withdraw as well as refinancing. They have been amazing to work with.

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Anthony Sgambati
November 30th, 2018 Rocklin, CA DETAILS
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Chase carried my car loan, it was a piece of cake! They set up direct withdraw from my account, and made it easy to walk away with my new car at a competitive interest rate!

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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
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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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Joanna Hester
June 18th, 2018 Gilbert, AZ DETAILS
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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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Georgianna Powers
June 18th, 2018 Lemon Grove, CA DETAILS
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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
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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
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terrible aqqt communications, hard to reach the right person

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Howard Friedman
June 13th, 2018 DETAILS
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outstanding and timely answers to credit request

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Roy
June 13th, 2018 DETAILS
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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
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Excellent customer service and banking services.

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CAROLE SCOVILLE
May 29th, 2018 Pleasant Grove, UT DETAILS
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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
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Very professional, customer service very helpful, services very varied

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James E. Jones
May 17th, 2018 DETAILS
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They do a good job with the handling of my loan

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

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

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Christina Amato
May 17th, 2018 DETAILS
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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
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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
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0% interest for 60 months on a new Auto loan

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Alexander Ferenczy
May 7th, 2018 DETAILS
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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
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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
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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
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It's hard to log in and the auto pay options are not clear.,

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Cambraia
May 7th, 2018 DETAILS
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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
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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
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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
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Customer Service was good and decent loan rates

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Robyn Rhoton
April 24th, 2018 Alpine, UT DETAILS
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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
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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
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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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