There was a time about six months ago that Chase Auto Finance had dropped some of their less profitable dealers, ours being one of them (we had more options back then), but we are now signed back up and doing quite a bit of business with them.
Chase Auto Finance used to offer a competitive program, but it seemed I could always find a lender with a better approval.
Now with many lenders falling by the wayside and Chase still holding strong, I’ve been really beginning to like the Chase auto loan program and have been sending them both prime and non prime deals. How does this apply to you? Find out just below.
I am not affiliated with Chase Auto Finance and do not get paid to refer customers to their site. I also do not hold a grudge against Chase Auto Finance and did not build this page to discourage anyone from using their services.
I assume no responsibility for the accuracy of the information on this page and it should be used for general informational purposes only.
Any information pertaining to auto lenders and/or their auto loan guidelines is based on information, rates and terms that can change at any time.
Although, every effort is made to keep this information current, I can make no guarantees as to the accuracy of any of the auto lenders information reviewed on this site.
There are many variables that may affect your auto loan approval (your approvals rates, terms, restrictions, etc.) and/or turn down, such as, but not limited to:
* Credit score* credit history* age of vehicle* miles on vehicle* type of vehicle* state of residence* term of the loan* loan structureand/or* whether the loan is secured direct from lender or indirect from the dealership.
Chase Auto Loans Preferred Credit Criteria
As mentioned above, Chase Auto Finance has a great full spectrum lending program and they loan to A+, A, B, C and upper level D tier credit customers.
Chase Auto Finance has six prime credit tier levels and four non prime credit tier levels. Unlike most other auto vehicle title loans in North Dakota state lenders, they do not use credit score to determine what tier a customer will fit into.
- Credit history.
- Length of credit history.
- Loan structure.
- Monthly debt ratio.
- Monthly payment to income ratio.
Because Chase Auto Finance does not use credit scores to define their tiers it can be a little difficult to accurately explain their auto loan program.
They have a computer scoring system that rates each customers application, based on the above criteria, and that determines what tier a customer will fit into.
Typically, to get an approval, a customer would have to have at least three lines of well paid credit with at least three years of credit history.
Sometimes just credit cards and a decent pay history will do it, but often times it seems they like to see installment loan credit, like previous auto loans and/or home loans.
This is especially true if you have some accounts that have been paid poorly, sent to collections or even charged off.
They will approve deals (will vary from customer to customer) with prior collection accounts, chargeoffs, bankruptcies, etc., but you’ll want to show them that you have the overall desire to pay and that you have paid in the past.
Chase Auto Loans Preferred Loan Structures
Chase has, as with most all other auto lenders, tightened up a bit and it now seems that the max front end advance they allow is 130% including Tax, Title & License, plus approved back end products: