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LAST UPDATED: April 11th, 2022

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.

Top Ranked Companies


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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I hate Chase Palmer, AK

I doubt I can say anything good about Chase Auto. I purchased a vehicle and spent six months trying to get account information. Each week I made a payment to the only address I had in my documentation. I even sent a self-addressed stamped envelope and letter asking my account number, the correct address to send the payment and if there was a manner to set up automatic payments. No response, ever. Eventually the State Attorney General got Chase to send some paperwork to the State - not to me. I am missing $1,300 in payments to Chase not credited to my account. I am unable to get a Statement from Chase Auto. I attempted to set up auto-pay online but they want to confirm by sending a text to one of two telephone numbers - neither of which is mine. This company is criminal. They send bad credit information to the rating agencies but have stolen my money and don't even seem to know who I am or where I live in spite of the loan documents. NEVER DO BUSINESS WITH CHASE!!!!!

2 years ago

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haim zion San Mateo, CA

the worst place for auto loan my wife finance a car through chase auto loan on 7/2019 chase failed to register the car in november of 2019 we started getting tickets for no registration chase will not help fixing or refund any money for all of our issues now its 3/8/2020 we are not using the car and can not register the car we had to rent a car for now the problem with chase is that they are so big of a bank they do not care they also will not confirm any communication in writing they are the only one that have a copy of the issue. as we are still making payment on the car and can not use it . its a big problem when a bank do not care about customers.

3 years ago

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Margaret Lamb Peoria, AZ

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.

3 years ago

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Alexander Ferenczy

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.

5 years ago

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The front end of buying and financing was great, just don’t expect it to last through the end. Payoff was overnighted to them with proof of receipt. Now 12 days later still not applied. Totally unacceptable! Good luck trying to get any info when you call. Horrible service, when you expect.

1 year ago

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M Boca Raton, FL

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 !

3 years ago

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David Fowler Mineral Ridge, OH

terrible aqqt communications, hard to reach the right person

4 years ago

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Peace of mind is priceless.

Interest rate, and Chase is not a good company

5 years ago