ARCHIVES: This is legacy content from before Industry Dive acquired Mobile Commerce Daily in early 2017. Some information, such as publication dates, may not have migrated over. Check out our topic page for the latest mobile commerce news.

Chase makes vehicle financing and shopping easier with mobile-enabled platform

The financial institution is hoping to drive more customers to finance their vehicle purchases with Chase by offering an online tool that combines both car shopping and finance capability in one place. Chase is partnering with TrueCar to help users discover their financing abilities without having to be at a dealership.

“Mobile is incredibly important with Chase Auto Direct,” said Bruce Jackson, head of retail lending for Chase Auto Finance. “We know that more and more consumers are shopping for everything online and when you have a computer in your pocket, that’s what you’re going to turn to.

“With this platform, it was important for us to make sure that customers can use mobile to find and finance a car, too,” he said.

Chasing mobile capability
Chase Auto Direct is a new online tool that allows users to search for vehicles and financing options all in one place, without spending long hours in a dealership. Users are often taking to their desktops and mobile devices to research information regarding car purchases, and Chase is hoping to corner that market.

Users on can select the Auto Direct tab to search for vehicles and financing. Shoppers can select filters of the types of cars they are looking for, such as make, model, fuel type, size and more.

Consumers will then be able to see a list of local inventory and comparative prices. If a user sees a car he or she would like to purchase, he or she can select Chase to finance the purchase through a nearby dealership.

For instance, if shoppers see a Wrangler they wish to buy at a nearby Jeep dealership, they can fund their purchase through a Chase loan on the Auto Direct page. Users select Apply Now and fill out their personal and finance information.

For approved shoppers, Chase will send a loan approval certificate that users can bring in to the dealership to pick up their new vehicle and finalize the purchase.

Mobile headway
Chase recently boosted the mobile capabilities of its peer-to-peer payment program to gain traction against PayPal and others with new features such as real-time transfers (see more).

The finance brand also revamped its site to make it more customized for mobile and tablet visitors, with new features including simplified bill paying, a revamped search tool and a redesigned homepage (see more).

“The great thing about Chase Auto Direct is that it benefits both customers and dealers,” Mr. Jackson said. “For our customers, using Chase Auto Direct gives them a seamless, transparent car buying experience—from finding their car to getting approved for financing—all from their computer or smartphone.

“For our dealers, they are getting access to pre-approved customers who are ready to buy, while keeping the flexibility to finalize the deal,” he said. “Plus, they will get paid a flat fee for closing the loan.”