Chase Launches First End-to-End Digital Car-Buying Service for Customers
August 25 2016 - 04:54PM
Business Wire
New fintech offering—Chase Auto Direct—will
deliver pre-approved customers to dealerships served by Chase
Chase today announced the launch of Chase Auto Direct, a new
digital offering that lets Chase customers shop for a car and
secure financing through their computer or smartphone, and then
close at a dealership served by Chase. This new service is now
available to existing Chase customers in select U.S. states.
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Chase Auto Direct provides the first
end-to-end car-buying service. (Graphic: Business Wire)
“Customers today are shopping for everything online, including
cars,” said Bruce Jackson, head of retail lending for Chase Auto
Finance. “By pairing financing with the online car shopping
experience, we can provide more opportunities for Chase dealers,
and make it easier for customers to get in the driver’s seat.”
Chase customers can configure their preferred options for a new
or used car, find matching cars online, and get approved for their
loan, all through Chase.com. Using technology from TrueCar, the
leading digital automotive marketplace, customers also can compare
prices paid by other consumers and then apply for and lock in their
loan with Chase. Customers can then connect with a dealership in
the Chase network that has inventory meeting the customers’
preferences to enjoy a seamless, transparent customer
experience.
The new service also benefits Chase dealerships by providing
them with a significant financial benefit, and brings dealers
pre-qualified, “ready-to-buy” consumers. Sixty-five percent of
TrueCar users who purchase a vehicle do so within a week of being
introduced to a dealer, according to TrueCar.
“Chase has been providing auto financing directly to customers
for some time—this new online offering showcases our dealers’
vehicle inventory to more than 57 million Chase households in the
United States. Dealers in the Chase network will now benefit from
new leads that they didn’t have yesterday,” Jackson said. “We want
every Chase customer to have a good experience when buying a car,
and we’re confident that the dealers we do business with can
provide that experience.”
Chase Auto Direct is currently available to existing Chase
customers in 30 U.S. states, and will roll out further in phases
through early 2017. Chase serves about 14,000 auto dealerships in
the U.S.
About Chase
Chase is the U.S. consumer and commercial banking business of
JPMorgan Chase & Co. (NYSE: JPM), a leading global financial
services firm with assets of $2.5 trillion and operations
worldwide. Chase serves nearly half of America’s households with a
broad range of financial services, including personal banking,
credit cards, mortgages, auto financing, investment advice, small
business loans and payment processing. Customers can choose how and
where they want to bank: 5,300 branches, 18,000 ATMs, mobile,
online and by phone. For more information, go to Chase.com.
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ChaseAshlei Bobo, 212-270-6488ashlei.n.bobo@jpmchase.comorPaul
Hartwick, 302-282-3961paul.hartwick@chase.com
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