chase car loan apr rates

While there is no application fee when financing a car purchase through Chase, you should understand that other fees may apply. For example, if. Financing a vehicle can seem like a daunting transaction. Be prepared with the right information. Learn more about auto loan interest rates. Chase Bank personal checking account customers can get up to a 0.50% rate discount on new or used auto loans and vehicle loan refinancing.

Chase car loan apr rates -

60 Month

No more chasing down the best car loans, because Chase offers affordable auto loans and an intuitive online car shipping experience.


4.2 / 5.0


SimpleScore Chase 4.2

  • No down payment needed
  • Easy online car shopping
  • Can change payment due date
  • Can only buy through its dealership network

With over 4,900 branches and 16,000 ATMs, JP Morgan Chase, headquartered in New York City, is one of the oldest and largest banks in the United States. If you’re looking to finance the purchase of a new or used car, a Chase auto loan might be the answer.

Chase Bank services the retail sector with checking accounts, credit cards, home mortgages and investment products and offers auto loans in all 50 states. While its best rates are for applicants with good to excellent credit, Chase does provide financing to buyers with all types of credit.

You can apply to Chase for a loan to buy a new or used car, refinance an existing loan or obtain a loan to purchase a vehicle at the end of a lease.

Check Your Auto Loan Rates

View our top-rated lenders and find the best rates today. It’s quick and easy.

Get Started

We follow a rigorous editorial policy designed to keep our writers and editors independent. Articles may reference products from our partners, so here’s more information on

How we make money

The Simple Dollar is an independent, advertising-supported publisher and comparison service. The Simple Dollar is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. The Simple Dollar does not include all companies or all available products.

Chase at a glance

LenderAPR RangeMin. LoanMax. LoanTermsKey Benefit
Chase BankVaries$4,000$600,00012 – 72 monthsCompetitive rates and online shopping

What we like about it

Chase Bank makes it easy to shop for a car and get the financing for it all online. Using its website, customers can quickly find their new set of wheels and securing the funds for it, while checking interest rates. Once applied, customers can expect a decision on approval the same day, but there are cases where a more detailed review occurs, delaying decisions by a couple of days. Furthermore, Chase does not require a down payment for any of its car loan financing options.

If your finances change, Chase allows you to change the due date of your loan payment twice over the life of the loan, which gives a lot of flexibility when life throws unexpected curveballs at you.

Things to consider

Chase only offers loans for cars purchased through its participating dealers. Private sales are excluded. However, Chase has an extensive nationwide network of dealers, and a search for a specific model of car will usually turn up several hundred choices.

Interest rates at Chase may not always be the lowest in the market, so it pays to shop around with other lenders.

If you change your mind about the car you want to buy from a selected dealer after making an application, you will have to go online and submit a new application. This can become a frustrating experience if you’re considering several cars.

Chase does not finance commercial vehicles, motorcycles, recreation vehicles or boats. They also do not finance vehicles used for taxis, limousines, ride shares, Uber or Lyft. Loans for business vehicles must be negotiated with the manager of a local Chase branch.

Several consumer reviews report difficulties dealing with the bank’s customer service representatives on administrative issues.

Chase auto loans

Chase offers low car loan rates for applicants with excellent credit. If you have bad credit, you may want to consider other auto lenders.

Although the Chase website isn’t specific, “excellent credit” generally means a credit score between 781 and 850, according to Experian. Lenders consider “prime” as a score in the range of 661 to 780 and anything below 660 as “subprime.”

Chase has a convenient loan calculator where you can enter the data for the car you want to buy and get estimates of interest rates and monthly payments. All you have to do is select whether the car is new or used, the estimated price, its year and make, your state of residence and your credit status.

While Chase does not require a down payment for its loans, you may want to consider making some down payment to lower your monthly payments and reduce your total financing costs. Most other lenders require a down payment. After approval, Chase will notify your selected dealer and send them the loan details. Offers are valid for 30 days. If you already have a checking account with Chase before making an application, you qualify for a discount of 0.25% off the loan rate and another discount of 0.25% if you agree to automatic payment deductions.

Chase auto refinancing

If your credit score has improved, and you’re stuck with a high-interest car loan, refinancing could be a fiscally viable option. Or if you feel for whatever reason you didn’t receive the best rate at the date of purchase, Chase may be able to reduce your monthly payments by refinancing your loan at a lower rate or extending your existing repayment terms.

Chase private seller loans

Chase does not offer private seller loans, but U.S. Bank does. Through U.S. Bank, customers can have cash in-hand to bargain for better prices with private sellers. Depending on the age of the car, however, expect differing interest rates. For example, cars 7 to 9 years old have a higher interest rate when buying from a private seller.

Chase used car loans

Chase has a partnership with TrueCar to find the used car that you want. TrueCar searches the inventory of Chase’s participating dealers to find the exact specifications of the used car you are looking for.

Check Your Auto Loan Rates

View our top-rated lenders and find the best rates today. It’s quick and easy.

Get Started

Cars cannot be more than 10 years old and must have less than 120,000 miles on the odometer. The length of repayment for used car loans may be reduced for older cars, in some cases no more than 24 months for the oldest cars.

After selecting a used car, Chase will provide customers with a savings certificate to present to the dealership.

Too long, didn’t read?

Interest rates on a Chase auto loan are attractive and available to consumers with excellent to fair credit ratings. The online application is easy to complete, and you can also shop for a car at the same time, making this a one-stop process without ever leaving the Chase website. Chase Bank is a wise choice for buyers with good credit and the discounts available to existing customers.

While some Chase borrowers report having difficulty dealing with the bank’s customer service department, other borrowers are satisfied with the application response time and the extensive network of participating dealers.

We’ve created the SimpleScore™ to help you objectively compare products and services here at The Simple Dollar.

Our editorial team:

  • Identifies five factors to compare across each brand
  • Determines the rating criteria for each factor
  • Calculate an average of those five factor scores to get one SimpleScore™

We break down each of these five factors and their rating criteria for our review of the best auto loan companies of 2020.

Why do some brands have different SimpleScores™ on different pages?

Some brands like Bank of America, Wells Fargo, and Chase have different SimpleScores™ because they offer more than one financial solution — like auto loans, home loans, personal loans and banking.

For instance, in our Bank of America Mortgage Review, we give the company a 3.8 out 5 based on our five rating factors for mortgages. In our Bank of America Auto Loans Review, we give the company a 4.4 out of 5 based on our rating factors for auto loans. By tailoring our SimpleScore™ to each financial solution, we’re able to give you a more accurate view of their services and how they compare to competitors’ services.

Minimum new car rate

Companies that look out for new car buyers with lower rates receive higher scores from us.

Minimum used car rate

We also give higher ratings to companies that look out for used car buyers by offering lower rates.

Maximum loan size

Having enough money to cover your auto loan is important –– that’s why companies with higher maximum loan amount receive better scores from us.

Customer satisfaction

We use the J.D. Power 2019 Consumer Lending Satisfaction Study℠ to find out how customers rate their experience with each company. (If a company is not included in J.D. Power’s study, we skip this rating factor and average the remaining factor scores.)


Fees can add up very fast –– that’s why we give a higher score to companies who have fewer fees.

James is a freelance writer based in Connecticut. He writes finance- and business-related articles that are easy to understand and put into action. His work has been published on such sites as National Funding, FastCapital360, Bizfluent, Kapitus, SmallBusiness.Chron and Work.Chron. When not writing, he’s either on the golf course or relaxing on the smooth, white beaches of the Gulf of Mexico.

72 Month

36 Month Term

Credit RangeAPR*
639 or less
Apply Now

48 Month Term

Credit RangeAPR*
639 or less
Apply Now

60 Month Term

Credit RangeAPR*
639 or less
Apply Now

72 Month Term

Credit RangeAPR*
639 or less
Apply Now

* These rates are current as of November 29, 2021

Frequently Asked Questions About Auto Refinance Rates

What are today's auto refinance rates?

For today, November 29, 2021, the current average auto refinance rate for people with Excellent credit is 2.93% for a 48-month loan, 2.59% for a 60-month loan, and 2.70% for a 72-month loan. The current average across all credit tiers and loan terms is 5.36%.

How do I find personalized auto refinance rates?

RateGenius’ pre-qualification tool can help you see estimated rates you might qualify for before you apply with no impact to your credit score. To get more accurate rates, you’ll need to submit an application which will require a hard credit check.

What is an auto refinance rate?

When you borrow money, you plan to repay it at a predetermined interest rate over a loan term. An auto refinance rate is the fee, expressed as a percentage, paid on the refinance loan. This is what a lender charges you for borrowing the money in exchange for having a vehicle. When determining how much a loan would cost you, the auto refinance rate may be only one factor to consider, but it’s without a doubt the most significant.

MORE:Calculate how much refinancing your auto loan could save you

How does the the Federal Reserve affect auto refinance rates?

While the Federal Reserve does not set auto refinance rates, it does have an indirect influence on those rates. The nation’s central bank is the Federal Reserve. It steers the economy with the dual goals of promoting job creation and keeping inflation in check. The Federal Open Market Committee’s decisions to lift or lower short-term interest rates will prompt lenders to do the same.

What's the difference in interest rate and APR?

The interest rate is the cost of borrowing money, and it is expressed as a percentage, such as 4.5%. Annual percentage rate (APR) is not the same as interest rate. APR reflects the total amount you pay to borrow money, including interest and fees, and is often higher than an interest rate.

MORE:Understanding Interest Rates vs. APR for Car Loans

Does my credit score affect my rate?

Your credit score indicates how much of a liability (aka risk) you are to a bank or other financial institution. This usually means that the better your score is, the lower your interest rate will be. Auto refinance lenders also take LTV, DTI and other factors into consideration when calculating the rate they will offer you.

Does your vehicle qualify for refinancing?

Vehicle Icon

Make sure your vehicle is...

  • Under 12 years old
  • Under 120,000 miles
  • personal use vehicle
Loan Icon

...and your current auto loan must have

  • A balance between $10,250 and $55,000
  • Funded at least 1 month ago
  • At least 24 months of payments left

* Annual Percentage Rate (APR) estimates represents the average available rates among lenders in RateGenius’ lender network across various ranges of credit. These rates assume a loan to retail value ratio (LTV) of no more than 125% and a debt to income ratio (DTI) of no more than 50%. In addition to an individual’s LTV and DTI, the actual APR you may receive is dependent upon many factors evaluated at the time of application, which may include, among other factors, credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Estimated APR’s may not be available in the geographical area of your residence. While efforts have been made to maintain accurate information, the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 24%) and only borrowers with excellent credit will qualify for the lowest rate available.