Chase Auto Finance Review

Chase Auto Finance is part of JPMorgan Chase Bank. They offer auto loans between $7500 and $100,000. Terms greater than 60 months require that the loan amount be $17,000 or more. Chase Auto Finance offers fixed-rate auto loans. This means your interest rate will not change during the tenure of your loan. You'll continue to pay the same installment every month even if market interest rates rise substantially over the loan repayment period.

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Used vehicles financed by Chase Auto Finance need to be less than five years old and have covered less than 75,000 miles. Chase doesn't finance the purchase of vehicles that are used for commercial purposes, for business, delivery or racing. In some states Chase Auto Finance offers loans for the purchase of boats, motorcycles and RVs. There is an origination fee of $75 on all loans at Chase Auto Finance.

The maximum term period for which they offer loans is 72 months. You can apply whether you're working for some company or self-employed. Documentation varies depending on this.

On approval you get 'Chase Auto Loan check' that you can use to buy a new or used car, small truck, SUV or mini-van at any dealer in the U.S. Chase Auto Finance offers private party loans in select states of USA if you want to buy an automobile from a friend or neighbour or through an ad in the newspaper. So you're not limited to buying from an authorized car dealer if you're taking an auto loan from them.

You can save .25% off your interest rate when you select Automatic Payment from a Chase checking or savings account. This discount is taken into account during loan origination. Thid discount continues as long as your checking account has the funds to make the monthly installment payment. If any payment request is turned down due to insufficient funds, then the discount will no longer apply. Chase Auto Finance offers an additional discount of .25% is offered for all Chase Premier Checking or Chase Premier Platinum Checking account holders. You can check the latest interest rates applicable to auto loans on the official website of Chase Auto Finance.

You can also refinance an existing loan you have on a vehicle with the auto refinancing plans offered by Chase Auto Finance. If interest rates have dropped you can save a substantial amount of money by refinancing an existing loan on which you may have been paying higher interest.

There are tools and calculators available on the website of Chase Auto Finance that let you calculate your loan, repayment EMI and loan tenure. You can also view the latest interest rates that apply on auto loans. There's a calculator that will help you evaluate whether you should opt for a new or used vehicle depending on your usage pattern and the number of years you expect to retain the car. There are other articles that evaluate whether you should lease or buy a vehicle. You can also use these resources to decide on the type of car you should choose, how much you should spend on a car and the term period over which you should consider paying off the auto loan.

This review refers to a product or service only available within USA.