Chase Bank is just that: an actual bank! That means applicants can make requests online, visit local branches with specific questions and pay in person.
Chase offers auto loan servicing that is not only backed by a brick-and-mortar institution, but by an industry leader that has been in the business for over 200 years. The online and face-to-face loan application process is easy and open to members and non-members alike. Financing is competitive and good for 30 days. When coupled with Chase’s car buying service,your savings could exceed thousands of dollars.
What is the monthly fee?
|This depends on your loan amount|
Are loans easy to obtain?
|Yes, just apply online or at a local branch|
What if I’m not satisfied?
|Loans must be paid back in full|
How do I reach out to the company?
|By email or phone, or by visiting a local branch|
What are the maximum and minimum loans offered?
|Loan amounts vary between $7,500 and $100,000|
How long will it take to get the loan?
|Anywhere from two hours to upwards of three business days|
Will the approval process ruin my credit?
|Chase makes no guarantee that a credit request won’t impact one’s credit score|
Are there fees for early payoffs?
|No, but Chase prefers longer payback periods, some lasting 84 months|
How can I pay back my loan and interest?
|EFT, online payments, check, money order, and by phone|
Limits to coverage
What services are excluded?
|Loan requests for old cars, excessive mileage, and commercial cars|
Cost or difficulty to upgrade?
|Credit challenged applicants face higher incentives and longer loans|
Loan origination fee
Is there a financing fee?
|There is a loan origination fee of $195 in Ohio or Indiana|
Put off by online marketplaces that only start your search for a new car? Tired of having to do all the legwork to get your loan approved? Well, then consider a more traditional option with Chase Bank. This institution, around for over 200 years, bridges the divide between pre-approved online auto loan offers and being able to make payments all in the same place: an actual bank! Chase truly is a turnkey option for sourcing not only your next new or used car, but also setting up a payment plan and servicing your loan.
That said, applicants should be aware that Chase scrutinizes payment histories, income forecasts and financial overextensions, which may put retirees at risk of a higher interest rate. Still, co-borrower or co-signer options exist, and you could put down a higher down payment.
Stress is definitely a major, and very unwelcome, factor when your car leaves you high and dry…or worse. Stress should not, however, continue to impact your health and decision-making abilities once you begin to source your next car and auto loan. This is where Chase Bank is clutch (bad pun, we know). Its car buying service, powered by TrueCar, allows you to start your search for a new or used car, and gives you the peace of mind that you are getting the best deal possible.
The auto loan request process can be done online, face-to-face or some combination thereof with in-house financing options that can yield interest rate reductions of up to 0.50%. Chase’srefinancing options are some of the best, and its auto loan calculators are entirely transparent, even taking into account your credit score for an increased level of accuracy.
For those looking to find a turnkey service (no pun intended), Chase Bank is the place to shop for your next auto loan. The process is seamless and includes either an online or face-to-face loan application request, a 30-day loan offer guarantee on a new or used set of wheels and repayment options that incentivize folks to make automatic payments in order to receive an additional 0.25% to 0.50% reduction in their interest rates.
Despite the security this might afford the more traditional customer, applicants should note that Chase, unlike true online auto loan marketplaces, does not offer a soft credit check or pre-approval. Chase also prefers requestors with credit scores in excess of 649 who are not overextended in terms of their financial obligations. Even if you decide to forgo sourcing a loan with Chase, they are a great benchmark against which to check your other marketplace offers.
Frequently Asked Questions:
What is required to obtain a loan request?
As with most application processes, online or at the bank, requestors must provide their name, Social Security number, date of birth, address, phone number, email address, employment information, annual income, requested loan amount, and length or term of loan and vehicle information including year, make, model and current mileage.
How long until I know whether I am eligible for a loan?
The wait can be as little as two to three hours or up to three business days.
How do I make payments?
While automatic payments with a Chase account are strongly encouraged and incentivized with interest rate deductions, the bank welcomes one-time payments, payments by check and payments by phone, among other more traditional means.
Overview: Auto loan requests and auto loan refinancing through Chase are great options for those seeking a more traditional route in servicing their request for a new or used car. The bank offers competitive rates and solid credit checks, as well ascar buying services powered by TrueCar. All that aside, approvals can take up to three business days to process, and there is no guarantee that a requestor will have access to the kind of credit that they might with a more flexible online lending platform.
Package Details: Chase Bank offers a premium car loan request and car loan refinancing service when held up against similar entities. The company leverages its physical locations as just another means to get a requestor behind the wheel of a new or used car. The Chase Car Buying Service provided by TrueCar even helps customers shop for a reliable car; those with fewer than 75,000 miles and under five years in age. Even if applicants source their own cars, Chase offers a 0.50% reduction in interest rate for customers that set up automatic payments through its traditional banking services.
Add-on Services: Chase strongly encourages applicants to use its car buying service, powered by TrueCar, which touts an average savings of $3,086 off MSRP on new cars. Additionally, and unlike other standard loan requestor websites, this includes auto loan calculators that take your credit score and type of car into account when determining your monthly payment and interest rate options.
Contract Details:Chase is very clear in stating that all additional add-ons and features beyond the original loan offer terms and conditions need to be met by the customer, which could result in significant fees as well as an overall increase in the total cost of the car. Additionally, Chase skews to the higher side of loan repayment options, with some timelines reaching 84 months, or seven years! With good credit and a steady means of income, though, contracts are reasonable and backed by a trusted name in the banking industry.
Warranty: Chase does not guarantee initial APR and payment plan estimates beyond the first 30 days of loan approval. Additionally, the bank only honors vehicle offers for new cars and limits used car certificates to seven days. Chase does extend loan offers to certain dealer-based add-ons to include credit life and accident and health, pre-paid maintenance, extended warranty and tire wheel.
Accreditations: Due to its more recent and contentious past, the parent company of the ubiquitous Chase Bank, JPMorgan Chase & Co., did not receive a rating from the Better Business Bureau. The bank, along with its subsidiaries, is still considered one of the Big Four banks in the United States, with nearly $2.5 trillion in total assets.
Company Details: Chase Bank was born of a series of tie-ups that date back to the late eighteenth century. The 1959, 1996, and 2000 mergers, however, gave Chase its namesake and ultimately brought the Manhattan group in line with storied J.P. Morgan & Co. Despite the fact that it is still making settlement payments for activities pertaining to mortgage-backed securities and the ensuing 2007 fallout, JPMorgan Chase Co. has lived through worse and remains a fixture in the financial loan sector.
Chase Auto Finance
P.O. Box 901076
Fort Worth, TX 76101-2076