Chase Auto Finance offers a variety of auto financing options, from refinancing to new and used car purchases. Applicants can shop online, through a network of dealerships, or at a local branch to find a loan that meets their needs. The bank offers competitive rates for those with good credit. A wide variety of vehicles are available to choose from, including Audi, BMW, Ford, Honda, Jaguar, Lexus, Mazda, Mercedes-Benz, Toyota, Volkswagen, Volvo, and more.
Customers can use a Chase prequalification tool to determine their eligibility for a loan. Prequalification does not guarantee approval or a loan rate, but it is a quick way to find out what loan amount you can afford and how much interest you will pay over the life of the loan. Using the Chase prequalification tool is also an easy way to shop for the right auto loan for your needs.
After applying for a Chase auto loan, customers will have to visit a Chase dealership to sign loan documents. This means that customers can’t switch dealers without a lot of hassle. In addition, Chase does not offer discounts on cars that are purchased from private sellers. However, if you are buying a car through the Auto Preferred program, you can get a discount through a local dealership.
Typically, Chase offers auto loans to consumers with good or excellent credit. There are no minimum requirements, but the bank does not finance certain exotic makes or commercial vehicles. Also, Chase does not finance vehicles that are over 120,000 miles old. These limits can vary, though.
Chase Car Loans are a fast and easy process, if everything goes smoothly. However, you should compare the terms offered by other lenders. Some companies may have lower rates and more flexible features, so you may want to take a few minutes to research other lenders before committing to a loan.
In addition to offering auto loans, Chase also offers a digital car-buying service. Using the online tool, customers can search for cars from local and online retailers. They can also check their credit scores for free. Depending on your credit score, you can qualify for a lower monthly premium or an interest rate with a longer payoff period.
One of the advantages of a Chase auto loan is that it does not require a down payment. However, if you are shopping for a more expensive car, you may need to take out a larger loan. If you have a low credit score, you can still qualify for a Chase auto loan, but you will have to pay a higher interest rate. You can also refinance your Chase auto loan after the first six payments. Refinancing will lower your monthly payments and allow you to move into a super prime credit segment.
In order to get approved for a Chase Car Loan, you will need to provide your vehicle information, dealer information, and proof of insurance. You will also be required to answer basic questions about your financial history, including your income, debt, and employment.