Chase Auto Loans Review


Rating: 7 / 10 (Very good)
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As a subsidiary of the multinational banking and financial services corporation JP Morgan & Co., Chase Bank offers dependable personal banking services and products including credit cards, business loans, mortgages, auto financing, investment planning, and more. The multinational currently has more than 5,100 branches and 16,000 ATMs across the nation and employs over 250,000 people.

How is Chase Auto Loans rated?

Breakdown

7/10
Loan Options
7/10
Application & Service
7/10
Qualification
7/10
Reputation

Overall Rating: 7 / 10 (Very good)

As a leading financial institution, Chase Bank offers reliable loan products as well as competitive interest rates for customers with good to excellent credit scores. Their estimated annual percentage rates for purchase and refinance loans are on par with industry standards, although actual rates will depend on the applicant's credit history, vehicle details, and the selected dealer's location. The company fails to offer a wealth of information about their loan products, yet clearly outlines applicant requirements on their webpage and allows customers to quickly compare quotes from dealers in their area. If you're a current Chase Bank customer and are looking to purchase or refinance a new or used vehicle, Chase Auto Loans may be a quick, convenient option.

Auto Loans & Refinancing

Loan Options - 7 / 10

Chase Auto Loans offers new and used vehicle loans from their select network of dealers. As is the case with most lenders, the bank will extend the best rates for customers with excellent credit and APR discounts for previous Chase clients. Actual annual percentage rates will based on the applicants credit history, the selected dealer's location, and an estimated loan-to-value ratio of 100%. Chase's website fails to list estimated loan amounts, but, from what can be surmised from their loan repayment calculator, these may range between $4,000 and $600,000.

Types of Loans Offered

Purchase Loans
Refinance Loans
Lease Buyout
Private Party Purchase

Purchase Loans

Loan Amount
$4,000
Max Loan Amount
$600,000

Loan Refinancing

Min. Loan Amount
$4,000
Max Loan Amount
$600,000

Loan Qualifications

Qualification - 7 / 10

To obtain a new or used car loan through Chase, applicants will be required to provide the make, model, year, and identification number of the vehicle they intend to purchase, which must not be five years older than the current model year and have less than 75,000 miles. Additional information may be required from those looking for a refinance deal, including social security number, current and previous address, employment details, and proof of income.

Borrower Qualifications

Minimum Age
Must Be 18 or Older
Minimum Income
No Minimum Specified
Minimum Credit Score
Must Have Good or Excellent Credit
US Citizenship Requirement
Yes
Verification / Documents Required
Social Security Number
Checking Account Information
Employment Information / Pay Stubs

Vehicle Qualifications

Mileage Limit
Less Than 75,000 Miles
Car Age
Must Not be Five Years Older Than Current Model Year
Car Makes
Works with 40 Vehicle Makes

Application & Service

Application & Service - 7 / 10

Current Chase customers can apply for an auto loan or refinance option online, by phone or at a local branch, while new customers or those looking to finance a car through a third-party dealership may not be able to complete the process through the institution. For those already working with Chase the application process is simple and straightforward, allowing them quick access to a vast network of national dealers offering competitive rates and favorable terms. Applicants will have 30 days to complete their online form before their details are deleted from the bank's system.
Approval Time
Not Specified
Funding Time
Not Specified
Benefits/ Features
Online Rates / Application

Chase Auto Loans Reputation & Reviews

Reputation - 7 / 10

Chase bank, registered under JP Morgan Chase & Co., holds an F rating with the Better Business Bureau based on 97% negative customer reviews and over 2,000 complaints. Although such a high number of complaints is not unusual for an enterprise as large as Chase, the company does not seem invested in addressing customer feedback on this or other consumer review platforms. Further evidencing the previous statement is Chase's 6.5 (Average) rating with Trustpilot.com, where they have received a fair number of positive reviews with regard to their customer service and credit card options as well as some complaints from customers who find their efforts lacking.
Trust Pilot Rating
6.5 out of 10
BBB Rating
F
Number of BBB Positive Reviews
2
Number of BBB Neutral Reviews
3
Number of BBB Negative Reviews
138
Date Collected
2017-12-28

Contact & Additional Information

Lender Type
Lender
Homepage URL
Company Phone
(800) 336-6675
Mailing Address
PO Box 901076, Fort Worth, TX, 76101
Year Founded
1799

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