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What Kind of Loans for Cars Are Available at Chase Bank? Quotes and Application


Chase Bank

Chase Bank, as you already might know, is a financial American institution highly rated for its banking and financial products. Here, we are going to focus on borrowing products specifically.

Among the wide variety of financial products offered by Chase Bank, we have come across Auto Loans. Chase Bank offers special loans for its customers to purchase or refinance their new or second-hand vehicles.

Chase Auto Loans

If you are willing to purchase a vehicle but you are currently on a tight budget, Chase Bank can help you get that extra step by providing you with quick access to cash. If, in contrast, you have already purchased a vehicle through an auto loan with Chase Bank or with any other financial institution and you are not able to keep up with the payments, Chase Bank will give you that extra hand you need and will let you refinance your current loan so that you do not need to sell the car or fall behind on your interests and principle.

That is great about these loans is that you can also use them to purchase not only cars but also trucks, minivans or recreational vehicles (also called RVs), such as motorhome, campers, trailers, and snowmobiles, among others.

Chase Banks offers also a very qualified team that will be ready to assist you any time you need during the application process, the purchase or even after the loan has been approved.

Amount

As regards amounts, with Chase Bank, you can have access to $7,500 and up to $100,000 in cash all at once. The loan will cover for the 80% of the total market value of the vehicle if you are purchasing a new vehicle. If you are planning to buy a used vehicle, keep in mind that the loan will cover for up to 95% of the value of the vehicle; which means you will only need to pay for a small portion from your savings, just the 5% of the total value.

Rates

Chase Bank Auto Loans have really competitive rates. What is more, if you are a customer at Chase Bank, you can get a 0.25% discount on your rate if you hold a personal checking account at Chase Bank. Besides, if you set up automatic payments for your loan to be made from your Chase checking account every month on a certain day, you will receive another 0.25% on your rate, which makes a total discount of 0.5% on your interest rate.

It is very important to remember that rates depend on your credit history. So, only if you have an excellent credit history will you be able to have access to the lowest rates for your auto loan.

You can check on current rates for loans for new or used cars on their website by entering your zip code.

Terms

When it comes to terms, Chase Banks offers

auto loans with terms of 48 months (4 years) to 72 months (6 years).

Tools

Chase Bank has made available on its website a series of tools that you can actually use to compare their rates with rates from other banks or companies, to get an estimate of how much you will pay if you apply for an auto loan, to get general information about vehicles and prices for vehicles. You can also find on their website www.chase.com a payment calculator that will tell you the exact amount for your monthly payments by entering the amount of the loan, the term of the loan and some personal and financial information.

Value of the Vehicle

To see the values that Chase Bank takes into account before granting a loan, you can have a look at the car values published by the National Automobile Dealer’s Association (NADA). The Association has a website where it makes all its lists public.

Application Process

You can fill out the application over the phone or at a local branch. You can also do it online in less than 15 minutes.

The first step of the application is when you will have to state if you are applying for a refinancing loan or a dealership purchase loan. Then, you will also have to say if you are applying individually or with somebody else and if you are a member of Chase Online Banking system.

After that, you will get to the part about your personal information. In this section, you will include information like full name, address, age, gender, city and state, zip code, mailing address, phone number, e-mail address and some other personal details. Some of them are optional, some are obligatory.

The next section is the one on employment information. Here, you will have to provide Chase Bank with information about your employer and on how much you earn, how long you have been working for the company and those sorts of things.

The following section is the loan and vehicle information. You will have to choose the amount of money you want to borrow, the length of the term in which you wish to repay the loan, and other general loan details. Besides, you will describe here the make, model, year and characteristics of the vehicle as well as some information about your dealer.

And,  finally, the last part of the application is basically a kind of confirmation step on which you will be able to read your rights and responsibilities in a disclosure and you will confirm that the information provided is true and correct and that you are actually interested in getting a loan from Chase Bank. However, do not be scared. This is not a contract, you will not sign any papers until your application is approved and you confirm that you agree with the rates and legal terms of the loan.


Category: Bank loan

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