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.

Rank Chart
Loan Amount
New Car Term Length






$5,000 - 45,000



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


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.


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.

Not looking for Chase Car Loans? Try these pages:

Chase Credit Cards

Chase Paymentech

Chase Bank

Chase Mortgages

Are there any inaccuracies in this review? We take our accuracy very seriously and would love your feedback. Give feedback here.

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