Chase Bank offers auto loans in addition to its wide range of banking services. Loans are available for members and non-members, though there are more advantages to applying if you have a Chase account. In addition to loans for new and used cars, you can also refinance an existing loan. Wells Fargo and RoadLoans also offer auto loan refinancing.
An auto loan through Chase can have a term that ranges from 48 to 72 months. If you’re looking for a shorter loan, you may need to inquire elsewhere. We recommend avoiding a loan longer than 60 months, since you can end up owing more than the vehicle is worth.
Rates vary depending on your credit score, the state you live in, the car you’re buying and the loan-to-value ratio. Chase has an auto loan calculator on its site that allows you see the rates and monthly payment you might be eligible for. This calculator includes your credit score and the type of car, something most similar tools didn’t include.
Chase account holders are eligible for rate discounts, so if you bank with Chase, it may be worth your while to explore its auto loan options.
You can apply online or in a physical branch. To apply you’ll need to submit your Social Security number, information about your employment and income, and the make, model and VIN number of the car you want to buy. If you haven’t settled on a vehicle that information can be added later.
Chase doesn’t preapprove loans, which makes it less suited if you haven’t chosen your car yet. You can use a tool on Chase’s site to browse cars from a certified dealership. If you find a car at one of these dealerships, you may be eligible for further discounts. If you’re searching for a used car, Chase will provide funding for vehicles no older than five years with less than 75,000 miles.
You can also refinance auto loans through Chase. The application process is similar to the auto loan process. Refinancing can reduce your rate and may be an option worth exploring if your credit score has improved since you first received your loan.
Chase bank provides auto loans for new and used cars as well as refinancing existing loans. You can apply online or at physical branches. If you don’t know the car you want to buy, Chase has tools to help you find one from a certified dealer.