December 2, 2020

Subaru renews captivelike partnership with Chase Auto

Chase Auto is extending its relationship with Subaru as its primary auto lending partner, both companies said Monday. Per the agreement, Chase will finance loans and leases for the automaker and is the banking partner through which the manufacturer disseminates customer incentives.

The agreement also provides support to more than 630 Subaru retailers in the U.S. through dealership financing and floorplan lending.

A Chase spokeswoman would not disclose how many times the partnership had been renewed or the duration of this iteration of the partnership.

“At Subaru, our customers recognize the importance of making a sound financial decision by investing in a vehicle with industry-leading sustained value,” Subaru of America CEO Thomas Doll said in a statement. “Chase and their dedicated teams have made it easy for our customers to purchase or lease a Subaru that they will love, not only for its quality and safety, but for the long-term retained value they offer.”

Chase Auto has powered Subaru’s financing arm for 19 years, making it the lender’s oldest automaker partnership. Chase has maintained captive-like partnerships with Jaguar Land Rover since 2009 and with Maserati since 2016. From 2008 to 2020, Chase also acted as the captive lender for Mazda before the automaker joined with Toyota Financial Services.