Chase Auto Finance originated $6.4 billion of auto loans in the final quarter of 2013, a 16% increase year over year, according the earnings report released today by parent company JPMorgan Chase.
At yearend, Chase Auto had $52.8 billion of loans on its books.
Spokeswoman Trish Wexler said overall industry growth was just one component that contributed to the rise. “Another driver has been our intense focus on customer service for our dealers ― extended hours, faster decisioning time,” she said in an email. “We understand what our dealers need, and we are making it easier to do business with us.”
For all of 2013, Chase Auto’s delinquency rate was 1.15%, down from 1.25% in 2012. The fourth-quarter delinquency rate was also 1.15%, up from 0.93% in 3Q13.
