Yes, Chase offers auto loans for new and used vehicles through its auto lending program

Chase Bank does offer car loans, but not through the same branch where you keep your checking account. Auto lending is handled by Chase Auto Finance, a separate division that works with both Chase customers and people who bank elsewhere. You can apply online, by phone, or through a Chase branch, though the actual loan is underwritten and serviced by the auto finance team.

Chase auto loans cover new cars, used cars (typically up to 10 years old), and certified pre-owned vehicles. The bank also offers refinancing if you have an existing car loan from another lender and want to move it to Chase. Loan terms typically run from 24 to 84 months, and rates vary based on your credit score, the vehicle's age and condition, and how much you put down.

Key Takeaways

  • Chase Auto Finance is a separate lending division from Chase Bank branches, so applying for a car loan does not happen at your local branch.
  • You can apply online at Chase's auto lending website, by phone, or ask a branch to refer you, but the loan is underwritten by the auto finance team.
  • Chase auto loans require a down payment, proof of income, a valid driver's license, and proof of insurance before funding.
  • Loan terms range from 24 to 84 months, and your rate depends on your credit score, the vehicle's age, and how much you borrow relative to the car's value.

How to apply for a Chase auto loan

Start by going to Chase's auto lending website or calling their auto finance line. You will need basic information: your Social Security number, employment details, income, and information about the vehicle you want to buy or refinance. If you are buying a car, have the vehicle identification number (VIN) and the asking price ready. If you are refinancing, gather your current loan documents.

Chase will give you a pre-approval decision within minutes to a few hours. A pre-approval is not a may provide, but it tells you what rate and loan amount you likely may have access to for. Once you have pre-approval, you can shop for a car knowing your budget. When you find a vehicle, you provide Chase with the final details (exact VIN, actual sale price, dealer information), and the loan moves to final underwriting.

Before Chase funds the loan, you must provide proof of insurance on the vehicle. The bank will not release money until insurance is in place. After funding, you make monthly payments to Chase Auto Finance, not to a dealership or your local branch.

What Chase auto loans cost and what affects your rate

Chase auto loan rates vary widely depending on your credit score, the vehicle's age, and the loan term you choose. A borrower with excellent credit (750+) will receive a much lower rate than someone with fair credit (620–680). Newer vehicles and shorter loan terms also tend to get better rates than older cars or longer terms.

Chase does not publish a single rate; instead, you receive a personalized rate quote during pre-approval based on your credit profile and the vehicle details. Rates change frequently and depend on the broader lending environment. Longer loan terms (60, 72, or 84 months) spread payments out but cost more in total interest than shorter terms.

You will also need to budget for a down payment. Chase typically requires at least 10 percent down, though putting down more reduces the amount you borrow and can improve your rate. Sales tax, registration, and dealer fees are separate costs on top of the loan amount.

Chase auto loans versus other lenders

Chase is one option among many for car financing. Credit unions, traditional banks, online lenders, and dealership financing all compete for auto loans. Credit unions often offer lower rates to members, especially if you have been a member for a while. Online lenders may approve borrowers with lower credit scores more readily than Chase does. Dealership financing is convenient but often more expensive than pre-approval from a bank or credit union.

The advantage of Chase is that if you already bank there, you have a relationship with the institution and can manage your loan alongside your checking account online. The disadvantage is that Chase's rates are not always the most competitive, and the bank has stricter credit requirements than some lenders. Shopping around—getting pre-approval quotes from at least two or three lenders—takes 15 minutes and shows you whether Chase's offer is competitive for your situation.

Refinancing an existing car loan with Chase

If you have a car loan from another bank or credit union, you can refinance it through Chase Auto Finance. Refinancing makes sense if Chase's rate is lower than what you currently pay, if you want to change your loan term, or if your credit score has improved since you took out the original loan. The process is similar to applying for a new auto loan: you provide your current loan details, vehicle information, and proof of insurance.

Chase will pay off your old loan and issue a new one. You then make payments to Chase instead of your previous lender. Keep in mind that refinancing resets your loan term, so if you had two years left on a five-year loan and refinance into a new five-year term, you are extending your total payoff date. However, if the new rate is significantly lower, the interest savings can offset that cost.

What happens if you have a low credit score

Chase has credit score requirements for auto loans, and the bank typically prefers borrowers with a score of 620 or higher. If your score is below that range, Chase may decline your application. This does not mean you cannot get a car loan—credit unions, some online lenders, and buy-here-pay-here dealerships work with lower credit scores—but Chase is not the right fit.

If your score is in the 620–680 range, Chase may approve you but at a higher interest rate. Before applying, check your credit report for errors (you can get a free report at annualcreditreport.com) and dispute any mistakes. Paying down existing debt or waiting a few months to build your score can improve your approval odds and lower your rate.

Documents you need to provide

Chase will ask for several documents during the application and before funding. Have these ready: a valid driver's license, proof of income (recent pay stubs or tax returns), proof of residence (utility bill or lease), and your Social Security number. If you are self-employed, be prepared to provide two years of tax returns and possibly a profit-and-loss statement.

Once you have found a vehicle, you will also need the VIN, the sale price, and the dealer's information. Before funding, you must provide proof of insurance on the vehicle—a declaration page from your insurance company showing the car is insured. Chase will not release the loan until insurance is confirmed.

Frequently Asked Questions

Can I get a Chase auto loan if I am not a Chase customer?

Yes. Chase Auto Finance works with borrowers who bank at other institutions. You apply through the same online or phone process, and your banking relationship with Chase does not affect your rate or approval odds. However, if you become a Chase customer, you can manage your loan and checking account in one place online.

How long does it take to get approved and funded?

Pre-approval usually takes a few hours to one business day. Once you have found a vehicle and provided final details, underwriting takes another 1–3 business days. Funding happens after you provide proof of insurance, which can occur the same day or within a few days. Total time from application to money in the dealer's account is typically 5–10 business days.

Can I pay off a Chase auto loan early without a penalty?

Yes. Chase auto loans have no prepayment penalty, so you can pay off the loan in full at any time without extra fees. Paying early reduces the total interest you pay over the life of the loan. You can make extra payments toward principal or pay a lump sum whenever you have the money.

What if I want to trade in my current car toward the new one?

You can apply for a Chase auto loan and include the trade-in value as part of your down payment. Provide the VIN and estimated value of your current vehicle during the application. The dealer will handle the trade-in appraisal and paperwork. Chase finances the difference between the new car's price and your down payment plus trade-in value.

Does Chase offer special rates for existing customers?

Chase does not publicly advertise a discount for existing customers, but having an established relationship with the bank may help during underwriting. Your existing account history shows payment reliability. The best way to find out is to call Chase Auto Finance or apply online and see what rate you receive based on your credit profile and the vehicle details.