Pros / There are no origination fees.

Cons / Its shortest loan terms is 48 months.

 Verdict / Chase Bank’s auto loans have higher interest rates and less flexible terms than many of the other lenders we reviewed.

Chase is one of the largest banks in the U.S., with more than 5,000 branches across the country. It offers auto loans in addition to its other banking services. When we compared its auto loans to other lender’s offerings, we found that Chase has higher interest rates and less flexible terms. For example, its rates are much higher than those we saw at Alliant Credit Union.

We compared the rates each lender advertises online. It’s important to keep in mind that these are the rates you could receive if you meet all of Chase’s credit requirements, not the actual rate you will be quoted. Chase’s rates are 4.39% for a new car and 4.54% for a used car. These are some of the highest rates we saw, so even if you are eligible for Chase’s best rate, you may be able to find a better one at another bank.

These rates represent the best-case scenario in terms of credit score and debt-to-income ratio, and it’s highly likely your rates will be higher. It’s a good idea to check your credit score before applying and to use the tools Chase provides to get a more realistic idea of what your interest rate and monthly payments will be.

Chase also has some of the worst terms we saw. It doesn’t offer any terms shorter than 48 months, and its longest term is 72 months. There’s very little flexibility, especially if you can afford a shorter loan.

In addition, Chase puts restrictions on the car you can purchase with one of its loans. The car can be no more than 10 years old and must have fewer than 120,000 miles on the odometer. Depending on the particulars of your application, it can take between one and three days to approve – three days is one of the longest approval times we saw.

Chase allows you to make loan payments online, and you can also refinance through Chase if you want a lower interest rate on an existing loan. There are no prepayment or origination fees through Chase.

Chase Auto Loan Visit Site

Specifications and Benchmarks

Rates & Terms

New Car Interest Rate
Used Car Interest Rate
Minimum Loan Term (Months)
Maximum Loan Term (Months)

Application & Eligibility

Mileage Limits
Vehicle Age Limits
10 Years
Approval Times
1-3 Days

Loan Repayment

Pay Online
Pre-Payment Penalties
Origination Fee