How Chase Handles Subaru Car Payments
Chase Subaru Payment Basics
Chase finances Subaru vehicles through Chase Auto Finance, which is Chase Bank's lending arm for car loans. When you buy a Subaru through a dealer that partners with Chase, your loan agreement goes to Chase, and you make monthly payments to them—not to Subaru or the dealer. Chase handles the loan servicing, which means they collect your payments, manage your account, and hold the lien on your vehicle title until the loan is paid off.
Your payment amount, due date, and interest rate are set when you sign the loan contract at the dealership. Chase does not change these terms mid-loan unless you refinance with a different lender. Payments are typically due on the same day each month, and you can pay online, by phone, by mail, or through automatic bank transfer.
Key Takeaways
- Chase Auto Finance is the lender; you pay Chase directly each month, not the Subaru dealer or manufacturer.
- Your payment amount and due date are locked in at signing and do not change unless you refinance.
- You can pay online through your Chase account, set up automatic payments, or pay by phone or mail.
- Late payments are reported to credit bureaus after 30 days and can trigger repossession after 120 days of nonpayment.
- If you fall behind, contact Chase immediately—many borrowers may have access to for payment deferrals or loan modifications without penalty.
How to Make Your Chase Subaru Payment
Log into your Chase account online or use the Chase mobile app to view your loan balance, due date, and payment history. The easiest method is to set up automatic payments from your checking or savings account; Chase will deduct your payment on the due date each month, and you will not have to remember to pay manually.
If you prefer to pay manually, you can pay online through your Chase account, call Chase Auto Finance at the number on your loan documents, mail a check to the address listed on your statement, or pay in person at a Chase branch. When you mail a check, allow at least 10 business days for it to arrive and post to your account. Always include your loan number on the check or payment form so Chase applies it to the correct account.
Some dealerships also offer payment kiosks or online portals where you can make payments, but these typically route to Chase anyway. Paying directly through Chase's website or app is the fastest way to confirm your payment was received.
What Happens If You Miss a Payment
If your payment is not received by the due date, Chase will charge a late fee. The amount varies by state and loan agreement, but typically ranges from $10 to $25 for the first late payment. After 10 days past due, Chase may contact you by phone or mail to remind you. Your payment is still due in full; the late fee is added on top.
After 30 days of nonpayment, Chase reports the late payment to the three major credit bureaus (Equifax, Experian, and TransUnion). This damages your credit score and stays on your report for seven years. After 60 days, you may receive a formal notice that your loan is in default. After 120 days (roughly four missed payments), Chase can legally repossess your vehicle without warning, even if you are still living in it.
Do not wait to contact Chase if you cannot make a payment. Call the number on your loan statement as soon as you know you will be late. Many borrowers may have access to for a payment deferral (skipping one or two months) or a loan modification (extending the loan term to lower the monthly payment) without penalty or credit damage.
Automatic Payments and Payment Scheduling
Setting up automatic payments is the simplest way to avoid missed payments. Log into your Chase account, go to the Auto Finance section, and select "Set Up Automatic Payment." You can choose to pay the full monthly payment, a fixed amount, or the minimum due. Chase will deduct the payment from your bank account on your chosen date each month.
If you want to make extra payments to pay off your loan faster and save on interest, you can do that anytime without penalty. Chase does not charge prepayment fees. You can make a one-time extra payment online or by phone, or you can increase your automatic payment amount. Any extra payment goes toward your principal balance, reducing the total interest you pay over the life of the loan.
If your due date does not align with your paycheck, you can request a due date change. Contact Chase and ask about moving your due date to a different day of the month. This is usually a simple process and takes effect within one or two billing cycles.
Refinancing Your Chase Subaru Loan
If your credit score has improved since you took out the loan, or if interest rates have dropped, you may be able to refinance with a different lender and get a lower interest rate. Refinancing means taking out a new loan with a different bank to pay off your Chase loan in full, then making payments to the new lender instead.
Banks, credit unions, and online lenders all offer auto refinancing. Compare offers from at least three lenders before choosing. The new lender will pay off your Chase loan directly, and you will receive a new loan agreement with a new payment amount and due date. There is no penalty for paying off your Chase loan early through refinancing.
Refinancing makes sense if the new interest rate is at least 1 to 2 percentage points lower than your current rate and you have enough time left on the loan to recoup the refinancing costs (typically $200 to $500). If you are close to paying off your Subaru, refinancing may not save you money.
What to Do If You Cannot Afford Your Payment
If your financial situation has changed and you cannot afford your monthly payment, contact Chase before you miss a payment. Explain your situation honestly—job loss, medical emergency, reduced income, or unexpected expense. Chase has options to help you stay current without damaging your credit.
Payment deferral allows you to skip one or two months of payments without penalty or late fees. The skipped payments are added to the end of your loan, so you pay them later. Loan modification extends your loan term (for example, from 60 months to 72 months), which lowers your monthly payment but increases the total interest you pay. Some borrowers may have access to for both: deferring a few months and then modifying the loan.
If you are considering returning the vehicle or walking away from the loan, understand the consequences first. Voluntary surrender (returning the car to Chase) damages your credit nearly as much as repossession and leaves you responsible for the difference between what the car sells for at auction and what you still owe—called a deficiency. This debt can be pursued in court. Explore deferral and modification options with Chase before considering surrender.
Paying Off Your Loan Early
You can pay off your Chase Subaru loan at any time without penalty. There is no prepayment fee, and Chase will not charge you extra for finishing early. To find out your exact payoff amount, log into your account or call Chase. The payoff amount includes your remaining principal balance plus any accrued interest through the payoff date.
Paying off early saves you money on interest. For example, if you have five years left on your loan and you pay it off in three years, you avoid two years of interest charges. You can make a lump-sum payment online, by phone, or by mail. Once Chase receives and processes the payoff, your loan is closed and the lien on your vehicle title is released. You will receive a clear title in the mail within two to four weeks.
Frequently Asked Questions
Can I change my payment due date with Chase?
Yes. Contact Chase Auto Finance and request a due date change. Most borrowers can move their due date to any day of the month. The change usually takes effect within one or two billing cycles. This is helpful if your paycheck arrives on a different day than your current due date.
What if I want to pay my Chase Subaru loan off early?
You can pay off your loan anytime without penalty or prepayment fees. Call Chase or log into your account to get your exact payoff amount, which includes remaining principal and accrued interest. Once paid in full, Chase will release the lien and send you a clear title.
Does Chase offer a grace period if I pay late?
Chase typically allows a 10-day grace period before charging a late fee, but the payment is still considered late after the due date. Late payments are reported to credit bureaus after 30 days. It is best to pay on time to avoid fees and credit damage.
What happens if I miss multiple Chase payments?
After 30 days, the late payment is reported to credit bureaus. After 60 days, you receive a default notice. After 120 days, Chase can repossess your vehicle. Contact Chase immediately if you miss a payment—deferral and modification options can prevent repossession and credit damage.
Can I refinance my Chase Subaru loan with another lender?
Yes. If your credit has improved or rates have dropped, you can refinance with a bank, credit union, or online lender. The new lender pays off Chase in full, and you make payments to the new lender. There is no penalty for early payoff through refinancing.