Chase Auto Loan Review 2022




Chase Bank offers auto loans in addition to a wide range of financial services, including checking and savings accounts, credit cards and home loans. Auto loans are available from $4,000 to $600,000 for new vehicles and used vehicles not more than 10 years of age.

Rates vary based on credit history, loan term, loan amount, debt-to-income (DTI) ratio, age of vehicle, current market rates and down payment amount (though no down payment is required).

Cars must be purchased from one of the thousands of dealers in the Chase network, and the financing of private seller vehicles is not available. However, Chase does provide a digital car-buying service that can help drivers find their next vehicle.

Here are the main types of auto loans offered by Chase:

New Car Purchase

To qualify for a new car loan through Chase, the vehicle must be from the current year or two preceding years. For example, drivers in 2022 can finance a 2023, 2022 or 2021 vehicle with Chase’s new car rates. Chase auto loans also are not available for vehicles purchased from private sellers.

For borrowers with excellent credit, rates start around 3.5%, but Chase doesn’t disclose its maximum rates. Terms are available from 12 to 84 months, and no down payment is required.

Used Car Purchase

Chase also finances the purchase of used cars from its network of dealers. To be eligible for financing, vehicles cannot be more than 10 years old. As with new car loans, borrowers have access to terms from 12 to 84 months with no down payment.

Lease Buyout

Chase offers a lease buyout program for customers who finance through its private label partnerships with Aston Martin, Maserati, Jaguar Land Rover, Subaru and McLaren. Drivers can opt to buy the vehicle outright or convert it to a loan product through Chase.

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