Chase does offer auto loans, but not through the same channels as mortgages or credit cards
Chase Bank offers auto loans directly to customers, but the process and availability differ from what you might expect if you're used to explore for other Chase products online. You cannot start a Chase auto loan process on Chase.com the way you would a credit card. Instead, you work with a Chase auto loan specialist either by phone or in person at a branch, or through Chase's auto loan marketplace, which connects you to lenders that Chase has vetted.
Chase also finances used and new vehicles through its dealer network. If you're buying from a dealership that works with Chase, the dealer's finance office can arrange the loan directly. This is different from going to Chase yourself — the dealer handles the paperwork and sends it to Chase for approval.
The loan terms, interest rates, and approval process depend on which route you take and your credit history. A Chase auto loan specialist can tell you what rate you might receive before you commit to anything, though the final rate depends on the vehicle, the down payment, and the loan term you choose.
Key Takeaways
- Chase auto loans are available through phone consultation with a specialist, in-person at branches, or through Chase's auto loan marketplace.
- You can also finance a vehicle through a Chase-partnered dealership, where the dealer arranges the loan on your behalf.
- Interest rates and terms vary based on your credit profile, the vehicle's age and value, and how much you put down.
- Chase auto loans cover new vehicles, used vehicles, and refinancing of existing auto loans from other lenders.
How to start a Chase auto loan
To begin, call Chase's auto loan department directly. The phone number is on the back of your Chase debit or credit card, or you can find it on Chase.com under "Auto Loans." A specialist will ask about the vehicle you want to finance — the make, model, year, and whether it's new or used — and your down payment amount. They'll also pull your credit to give you a rate estimate.
If you prefer to do this in person, visit a Chase branch and ask to speak with someone in auto lending. Not every branch handles auto loans, so call ahead to confirm. The specialist will walk through the same questions and can often provide a rate estimate on the spot.
Once you have a rate estimate, you're not locked in. You can shop for vehicles knowing roughly what your monthly payment will be. When you find a car, you'll provide the vehicle details to Chase, and they'll issue a check or arrange a direct payment to the seller or dealership. The loan documents are signed either at the branch, by mail, or electronically, depending on Chase's process at that time.
What Chase auto loans cover
Chase auto loans work for new vehicles, used vehicles up to a certain age (typically 10 years old, though this can vary), and refinancing. If you already have an auto loan with another bank and want to move it to Chase, you can refinance through them. The process is similar: call a specialist, provide details about your current loan, and Chase will pay off the old lender and issue you a new loan with Chase.
Chase does not finance vehicles older than a certain age, vehicles with salvage titles, or vehicles used for commercial purposes. If you're buying a classic car, a salvage vehicle, or a work truck, Chase auto loans won't cover it. The specialist you speak with can tell you whether your specific vehicle qualifies.
Down payment and loan terms
Chase typically requires a down payment, though the amount varies. Some customers put down 10 to 20 percent of the vehicle's price; others put down more. A larger down payment usually results in a lower interest rate and a smaller monthly payment. The specialist will show you how different down payment amounts affect your rate and monthly cost.
Loan terms at Chase usually range from 36 to 72 months, though the exact options depend on the vehicle and your credit. A shorter term means higher monthly payments but less interest paid overall. A longer term spreads the cost across more months, lowering the payment but increasing the total interest.
Interest rates and approval
Chase's auto loan rates depend on your credit score, the vehicle's value, the down payment, and the loan term. Customers with excellent credit (typically 740 and above) generally receive the lowest rates. Those with fair or poor credit will see higher rates, and some may not be approved at all.
When a specialist gives you a rate estimate, that's not a may provide — it's a range based on the information you've provided. The final rate is set when you're approved and the loan is funded. If your credit changes between the estimate and the approval, your rate could shift.
Approval typically takes a few business days. Chase will verify the vehicle details, confirm your income, and check your credit history. If everything checks out, you'll receive loan documents to sign. If there's an issue — for example, the vehicle is older than Chase's cutoff or your credit has dropped — they'll let you know and explain your options.
Chase auto loans through dealerships
Many car dealerships work directly with Chase. When you're at the dealership and ready to finance, the dealer's finance office can submit your information to Chase without you having to call Chase separately. The dealer handles the paperwork, and Chase funds the loan directly to the dealership.
The advantage of this route is convenience — everything happens in one place. The disadvantage is that you have less direct control over the process. The dealer is the middleman, so if there are questions about your rate or terms, you may need to go through the dealer first.
Rates through a dealership are sometimes the same as rates you'd get calling Chase directly, and sometimes they're different. It's worth asking the dealership what rate they're offering and comparing it to what Chase quotes you over the phone. If the dealership's rate is higher, you can ask them to match Chase's offer or you can decline and finance through Chase directly.
Refinancing an existing auto loan with Chase
If you have an auto loan with another bank and want to move it to Chase, the process starts the same way: call a Chase auto loan specialist. They'll ask for details about your current loan — the lender's name, your current interest rate, the remaining balance, and the vehicle details.
Chase will run your credit again and provide a new rate estimate. If the new rate is lower than your current rate, refinancing saves you money on interest. If it's higher, refinancing doesn't make financial sense. The specialist will show you the math so you can decide.
If you move forward, Chase pays off your old lender in full and issues you a new loan. You'll sign new documents, and your monthly payment goes to Chase instead of your old lender. The process usually takes one to two weeks from approval to funding.
Frequently Asked Questions
Can I explore for a Chase auto loan online?
You cannot complete a full auto loan process on Chase.com. You must speak with a specialist by phone or visit a branch in person. Chase does offer an online auto loan marketplace where you can browse rates and connect with lenders, but the formal process happens off the website.
What credit score do I need for a Chase auto loan?
Chase does not publish a minimum credit score requirement. Generally, customers with scores of 620 and above have a reasonable chance of approval, but rates are much better at 700 and above. The only way to know if you'll be approved is to speak with a specialist, who will pull your credit and give you a real answer.
How long does it take to get approved for a Chase auto loan?
Approval typically takes three to five business days after you submit all required documents. If Chase needs additional information — such as proof of income or clarification about your employment — approval may take longer. Once approved, funding usually happens within one to two weeks.
Can I pay off a Chase auto loan early without a penalty?
Chase auto loans do not have prepayment penalties, meaning you can pay off the loan early without extra fees. Paying early reduces the total interest you pay over the life of the loan. Contact Chase to confirm the exact payoff amount if you plan to pay in full.
What happens if I'm denied for a Chase auto loan?
If Chase denies your process, they will explain why — usually due to credit history, income, or the vehicle not meeting their requirements. You can ask what would need to change for approval, or you can explore other lenders. Some lenders specialize in loans for people with lower credit scores, though rates will be higher.