Chase Auto Finance

It is possible with Chase Auto Finance to buy a new or used car with a loan or refinance an existing loan all at one convenient place.

For a new car loan, Chase offers a no haggling finance service. The actual percentage rate of your new car loan will be determined after all the factors are known. Some of the factors will be the applicant’s credit history, the vehicles make and model, and the amount of the loan along with the term of the loan. The final APR of the loan will be effected by the 90% loan to value of the car. The loan to value is determined by the amount borrowed divided by the value of the car that is determined by the invoice number. The higher your LTV is, the higher your APR will be. All loans are subject to approval by JPMorgan Chase Bank. Chase does offer an exclusive deal for Chase Checking customers with a discount of up to 0.50% off of the standard rate.

For a used car loan, there are more variables that have to be considered. If you are looking at a used car at a dealer, know if it is a factory backed car or just a dealer backed car. This will have an impact on your final APR. The inspection of the car is another crucial part, ask for the inspection list from the dealer. Not all programs from every deal are equal. Know the difference and ask your Chase representative for advice on which is better to minimize your APR. Do the research yourself and make it inclusive.

Using Chase Online Banking is a great place to start when deciding on whether to use one of the Chase Auto Finance services that are available.