Chase does offer car loans, but only through its auto finance division and only to existing Chase customers in most cases
Chase Bank itself does not originate car loans through its standard banking channels. Instead, Chase Auto Finance—a separate division—handles vehicle financing. You cannot walk into a Chase branch and apply for a car loan the way you would for a personal loan or mortgage. Chase Auto Finance works differently: it finances cars you buy from dealerships, and the dealership must be a partner with Chase for the loan to go through.
If you already own a Chase checking or savings account, you may have slightly faster processing, but existing customer status is not a requirement. What matters is that the dealership you choose has a relationship with Chase Auto Finance. Many dealerships do, but not all, and not every location of a dealership that partners with Chase will have access to Chase financing.
Chase Auto Finance also buys existing car loans from other lenders—meaning if you financed a car elsewhere, Chase may purchase that loan and become your servicer. In that case, you would make payments to Chase even though you did not originally borrow from them.
Key Takeaways
- Chase Auto Finance is a separate division from Chase Bank and works through dealerships, not bank branches.
- You apply for a Chase auto loan at the dealership, not at Chase, and the dealership must partner with Chase Auto Finance.
- Chase Auto Finance also purchases existing car loans from other lenders, so you may end up paying Chase even if you borrowed elsewhere originally.
- Loan terms, rates, and down payment requirements vary by dealership and your credit profile, and Chase does not publish standard rates online.
- If your loan is sold to Chase after closing, you can set up online payments or automatic transfers through your Chase bank account if you have one.
How to get a Chase auto loan through a dealership
The process starts at the dealership, not at Chase. When you are ready to buy a car, tell the dealership's finance manager that you want to explore Chase Auto Finance as an option. The dealership will run your credit and submit your information to Chase. You do not need to contact Chase directly or pre-may have access to; the dealership handles the entire submission.
Chase will review your credit score, income, and the vehicle details (make, model, year, price). The dealership will tell you whether Chase approved you, what interest rate you may have access to for, and what the monthly payment would be. You can then compare that offer to other lenders the dealership may offer—most dealerships work with multiple finance companies and will present you with several options.
If you accept the Chase offer, you sign the loan documents at the dealership. The dealership funds the loan through Chase, pays off any trade-in loan, and handles the title and registration. You drive away with the car and begin making payments to Chase.
Interest rates and loan terms Chase Auto Finance offers
Chase Auto Finance does not publish interest rates on its website because rates depend on your credit score, the vehicle's age and value, your down payment, and the loan term you choose. Rates also vary by dealership and region. A borrower with excellent credit might receive a rate between 3% and 6%, while someone with fair credit might see 8% to 12% or higher.
Loan terms typically range from 36 to 84 months. Longer terms mean lower monthly payments but more total interest paid over the life of the loan. Chase does not charge a prepayment penalty, so you can pay off the loan early without a fee.
Down payment requirements are not set by Chase; they are negotiated at the dealership. Some dealerships will finance a car with little or no money down, while others may require 10% to 20% of the purchase price. A larger down payment usually results in a lower interest rate.
What happens if Chase buys your existing car loan
If you financed a car through another lender—a credit union, bank, or captive finance company—Chase may purchase that loan in the secondary market. When this happens, you receive a notice that your loan has been transferred. Your original terms do not change: the interest rate, monthly payment, and remaining balance stay the same. Only the servicer (the company you send payments to) changes.
Once Chase owns your loan, you can pay through their online portal, by phone, or by mail. If you have a Chase bank account, you can set up automatic payments from your checking account, which can simplify the process. You can also make extra payments or pay in full without penalty.
The loan transfer does not affect your credit report negatively. It may appear as a new account briefly, but this is normal and does not harm your score.
Making payments and managing your Chase auto loan online
Once your loan is active, you can manage it through Chase's online banking portal or mobile app if you have a Chase bank account. You can view your balance, payment history, and remaining term. You can also set up automatic payments so your monthly payment is deducted on a date you choose.
If you do not have a Chase bank account, you can still pay online through Chase Auto Finance's website using a bank account or debit card. You can also pay by phone or mail, though online and automatic payments are faster and leave a clear record.
Chase typically allows 10 days of grace after your due date before reporting a late payment to the credit bureaus. If you miss a payment, contact Chase immediately to discuss options. Depending on how far behind you are, you may be able to defer a payment, refinance, or work out a modified payment plan.
Refinancing a Chase auto loan
If your credit score has improved since you took out the loan, or if interest rates have dropped, you can refinance with Chase or another lender. Refinancing means taking out a new loan to pay off the old one, ideally at a lower rate or with better terms.
To refinance with Chase, contact them directly or ask your dealership whether Chase offers refinancing. If you refinance with a different lender, that lender will pay off your Chase loan in full, and you will owe the new lender instead. Either way, refinancing resets your loan term, so you may pay more interest overall even if your monthly payment drops.
Refinancing also triggers a hard credit inquiry, which temporarily lowers your credit score by a few points. However, if you shop for rates within 14 to 45 days (depending on the credit bureau), multiple inquiries count as one, so the impact is minimal.
What to do if you have problems with your Chase auto loan
If you fall behind on payments, contact Chase as soon as possible. Do not wait for a notice. Chase may offer a deferment (skipping one or two payments and adding them to the end of the loan), a loan modification (changing the term or rate), or a forbearance (temporarily reducing your payment). These options depend on your situation and Chase's policies at the time.
If you believe Chase made an error on your account—a wrong payment amount, a missing payment credit, or an incorrect balance—you can dispute it in writing. Send a letter to the address on your statement explaining the error and include copies of supporting documents. Chase must respond within 30 days.
If your car is damaged or totaled, contact your insurance company first. Your insurance will pay the claim to you and to Chase (as the lienholder) if Chase is listed on the title. If the insurance payout is less than what you owe, you are responsible for the difference. Gap insurance, which you may have purchased at the dealership, covers this shortfall.
Frequently Asked Questions
Can I apply for a Chase auto loan online without going to a dealership?
No. Chase Auto Finance only works through dealerships. You cannot apply directly to Chase or pre-may have access to online. You must find a dealership that partners with Chase, select your vehicle, and let the dealership submit your information to Chase during the financing process.
What credit score do I need for a Chase auto loan?
Chase does not publish a minimum credit score requirement. Generally, borrowers with scores of 620 or higher have better approval odds and lower rates, but Chase may work with lower scores depending on other factors like income and down payment. Ask the dealership to submit your information and see what Chase offers.
Can I pay off my Chase auto loan early without a penalty?
Yes. Chase does not charge prepayment penalties, so you can pay extra toward your principal or pay off the entire loan at any time without fees. This can save you money on interest if you have the funds available.
What if I want to return or cancel my car loan after signing at the dealership?
Most car loans do not have a cancellation period. Once you sign the paperwork and drive the car off the lot, the loan is binding. Some states have a short "cooling-off" period (usually 3 days), but this is rare and varies by state. Check your state's consumer protection laws or ask the dealership about your options before signing.
How do I know if Chase owns my car loan?
If you financed your car through another lender and Chase purchased the loan, you will receive a notice in the mail explaining the transfer. The notice will include Chase's contact information and instructions for making payments. You can also call your original lender and ask whether your loan has been sold.