Chase does offer auto loans, but only to existing customers with a checking or savings account

Chase Bank will finance a car purchase through its auto loan program, but you must already be a Chase customer. You cannot walk in as a new customer and get approved for an auto loan on the spot. If you have a Chase checking or savings account, you can apply online, by phone, or in person at a branch. The process typically takes a few days to a week from application to funding.

Chase auto loans cover new and used vehicles, with loan terms ranging from 36 to 84 months. Interest rates vary based on your credit score, the vehicle's age and condition, and current market rates. Chase does not publish its rates publicly—you have to get a quote to see what you would pay. The bank will finance up to 100% of the vehicle's value in some cases, though that depends on your creditworthiness and the car itself.

Key Takeaways

  • You must have an active Chase checking or savings account before you can apply for an auto loan.
  • Chase auto loans cover both new and used vehicles with terms from 36 to 84 months, and rates depend on your credit score and the vehicle's age.
  • You can apply online through your Chase account, by phone, or at a branch, and approval typically takes three to seven business days.
  • Chase requires a down payment in most cases, though the amount varies; you can also trade in a vehicle to reduce what you owe.

How to apply for a Chase auto loan

Start by logging into your Chase online banking account or the Chase mobile app. Look for the auto loan section under "Loans" or "Borrowing." You will enter basic information about the vehicle you want to buy—the make, model, year, and whether it is new or used. Chase will ask for the vehicle identification number (VIN) if you have already selected a specific car.

Next, you provide personal and financial details: your income, employment status, and existing debts. Chase pulls your credit report as part of the process, which results in a hard inquiry that temporarily lowers your credit score by a few points. You will receive a pre-approval decision within minutes to a few hours in most cases. If approved, Chase gives you a loan offer showing the interest rate, monthly payment, and loan term options.

Once you accept the offer, Chase funds the loan. The bank pays the dealership or seller directly in most cases. If you are buying from a private seller, Chase may issue a check or arrange a wire transfer. You will need to provide proof of insurance before the money is released, and the vehicle title goes to Chase until you pay off the loan.

What documents and information you need

Have your driver's license or state ID ready, along with your Social Security number. Chase will need proof of income—a recent pay stub, tax return, or bank statements showing regular deposits all work. If you are self-employed, bring two years of tax returns.

You will also need details about the vehicle: the VIN, the asking price, and the dealer or seller's information. If you are trading in a car, have the title and odometer reading available. Chase may ask for proof of residence, such as a utility bill or lease agreement, though this is not always required if your account address is current.

Down payment requirements and trade-in options

Chase typically requires a down payment, though the amount varies. A larger down payment—usually 10% to 20% of the vehicle's price—lowers your monthly payment and interest rate. Some customers put down less, but Chase may require gap insurance if you finance more than the car is worth.

If you own a vehicle, you can trade it in toward the purchase. Chase will ask for the vehicle's title, mileage, and condition. The bank uses that information to estimate its value and subtract it from what you owe on the new car. If your trade-in is worth more than what you owe on an existing loan, Chase can pay off that loan and apply the remainder to your new purchase. If you still owe money on the trade-in, that amount rolls into your new loan.

Interest rates and loan terms

Chase auto loan rates are not posted online. Your rate depends on your credit score, the vehicle's age, the loan term you choose, and current market conditions. Borrowers with excellent credit (typically 740 and above) receive the lowest rates. Those with fair or poor credit pay higher rates, sometimes significantly higher.

Loan terms range from 36 months (three years) to 84 months (seven years). A shorter term means higher monthly payments but less interest paid overall. A longer term spreads payments out, lowering the monthly amount but increasing total interest. Chase lets you choose the term that fits your budget, though the bank may limit options based on the vehicle's age and your credit profile.

You can request a rate quote without committing to the loan. This gives you a sense of what you would pay before you formally apply. Keep in mind that the quote is based on the information you provide and may change slightly when Chase verifies your details during the full application.

What happens if you are denied

If Chase denies your application, the bank will tell you why in writing. Common reasons include insufficient income, too much existing debt, a low credit score, or a recent bankruptcy or foreclosure. You can ask Chase to reconsider if you believe there was an error, though the outcome is unlikely to change without new information.

If you are denied, you have other options. Some credit unions offer auto loans with more flexible requirements than banks. Dealership financing is another route, though rates are often higher. You can also wait a few months, work on improving your credit score, and reapply to Chase or another lender later.

Paying off your Chase auto loan early

Chase allows you to pay off your auto loan early without penalty. You can make extra payments toward principal, pay a lump sum, or simply pay off the entire balance whenever you choose. Early payoff saves you money on interest.

To make a payment, log into your Chase account online or use the mobile app. You can also call Chase auto loan customer service or visit a branch. When you pay off the loan completely, Chase releases the lien on the vehicle title, and you receive the title in the mail within two to four weeks.

Frequently Asked Questions

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

No. You must have an active Chase checking or savings account before you can apply for an auto loan. If you do not have an account, you can open one online or at a branch, then apply for the auto loan once your account is active.

How long does it take to get approved and funded?

Pre-approval decisions usually come within hours of applying online. Full approval and funding typically take three to seven business days. The timeline depends on how quickly you provide required documents and how fast Chase verifies your information.

What is the oldest vehicle Chase will finance?

Chase generally finances vehicles that are 10 years old or newer, though this can vary. Older vehicles may be declined or require a larger down payment. Ask Chase directly about a specific vehicle's age before you apply.

Can I refinance my Chase auto loan with another lender?

Yes. You can refinance with another bank, credit union, or lender at any time. Refinancing may lower your interest rate if your credit score has improved or if rates have dropped since you took out the original loan. You will need to pay off the Chase loan in full when you refinance.

What if I miss a payment?

Contact Chase immediately if you cannot make a payment. The bank may offer a deferment or forbearance to temporarily pause or reduce payments. Missing payments damages your credit score and can lead to repossession if you fall significantly behind. Chase typically begins collection efforts after 60 days of missed payments.