FAQs - McLaren Financial Services
Frequently Asked Questions
Online account enrollment
How do I sign up to manage my McLaren Financial Services account online?
Chase manages your McLaren Financial Services account. Go to chase.com to create your username and password. You'll need your auto account number at the top of your statement. You'll also need your Social Security or Tax ID number.
After you create your username and password at chase.com, you can sign in securely at www.McLarenFinancialServices.com .
How can I update my mailing address?
If you're a loan customer, you can update your address by choosing “Profile & settings” on chase.com.
If you're a lease customer, contact us to update your address. We'll let you know how the address change may impact your lease account.
Why isn't my username and password working?
When you get a new vehicle, you may have several online accounts each with a different username and password.
For example, in addition to your financial services account, you may have an account through your manufacturer or dealer that gives you access to vehicle information, service appointment scheduling and other items related to your vehicle.
Keep in mind: Double-check and make sure the credentials you are using are the ones for chase.com if you're still having issues, you can contact us .
How do I manage my paperless preferences and other communications?
If you're the primary account holder you can manage your paperless preferences by signing in to chase.com. You can then turn paperless statements and letters on or off.
Where do I send my monthly payment?
See our contact us page for payment addresses.
How can I make a payment online?
After you sign in, choose Make a Payment on your Account page. You'll be transferred to chase.com to make one-time or automatic payments.
Keep in mind: Don't use the one-time payment option to make a payoff. This will cause delays in posting the payoff. Refer to the loan payoff FAQs for more information on how to make a payoff online.
Am I required to have a Chase checking account to make an online payment?
No, you can add a non-Chase or external account. From the Payment page on chase.com, choose “Add an account” and follow the instructions.
How long does it take to post my payment to my auto account?
It depends on how the payment was submitted to us.
In general, payments will be credited to the account as of the day they're received by us, as long as they're received during business hours or for online payments, prior to the processing cut-off time. In some cases, missing or incomplete information may cause delays.
Why hasn't my overnight payment posted to my account yet?
Posting overnight payments usually takes up to 3 business days if all the account information needed to post the payment is included. There may be delays if your payment is missing information, such as your account number or name.
Keep in mind: Even though the posting may be delayed, the payment will be applied the date it was received for processing.
How is my payment allocated to my account?
For loans: Any payment received is first applied to any interest due, then to any principal due and then to any outstanding fees. After paying the amount due and fees, any remaining amount is applied to reduce the principal balance. Watch an online video about payment allocation.
For lease: The payment is first applied to any amount due on the account, then any outstanding fees. Any amount remaining will be applied to the next payment due.
Keep in mind: Paying more than the amount due won't reduce the amount you're required to pay over the life of the lease.
Can I cancel a payment that was previously scheduled online?
You can cancel a payment you've scheduled online as long as the payment isn't already in a "Sent" or "Complete" status. Sign in to chase.com and view your “Payment activity” under “Pay & Transfer” to cancel.
The cutoff time to cancel a payment is:
11:00 PM Eastern time on any business day for payments from a Chase checking or prepaid account
8:00 PM Eastern time on any business day for payments from a non-Chase checking account
How can I change the payment due date?
Sign in to chase.com and choose “Update settings and preferences” within the “More...” menu, then choose “Payment due date” and follow the instructions.
Keep in mind: You can only change your due date 2 times during the life of the loan and only once during the life of a lease. Additional restrictions apply.
How do I get an auto loan payoff quote?
1. Sign in to chase.com and choose “See a payoff quote” within the “More” menu to see your payoff quote and verify your address. Follow the instructions to submit your payoff by mail or online.
2. Make sure to update your address, if needed, before completing your payoff because we will mail your title or lien release to the address that appears on your auto account statements — unless you live in an electronic (paperless) state. Florida doesn't generate a lien-free title when the electronic lien is released. You should contact the state's DMV to request a lien-free title.
3. Be sure to cancel any automatic payments when you pay off your loan.
Can I pay off my loan early? Will I incur a fee if I do?
You can pay off your loan whenever you're ready to and there's no pre-payment penalty for doing so. We don't charge pre-payment fees, even if your contract lists a fee.
Where do I find the terms for my lease?
Review the Lease Agreement that you signed at the dealership. You may contact us to request a copy.
How can I terminate my lease early?
If you return your vehicle more than 30 days before the end of the lease term without purchasing it, you may have to pay a substantial charge which could be several thousand dollars. The actual charge will depend on when the lease is terminated, but the earlier you end the lease, the greater the charge is likely to be. For additional information, see the Early Termination section of your Lease Agreement. Please note that even after you terminate your lease, you may be billed for remaining property taxes, parking tickets, toll charges and other state or local fees due on your account.
Can I purchase my leased vehicle?
Yes, you can purchase your leased vehicle at any time during the lease. Contact us for forms, instructions, and the payoff amount. We can't accept payoffs from third parties (such as friends and family). If a dealer would like to purchase your vehicle, they'll need to contact us directly for the dealer payoff amount. Please note that even after you terminate your lease, you may be billed for remaining property taxes, parking tickets, toll charges, and other state or local fees due on your account.
Visit Chase Direct Auto to complete an application for lease purchase financing from Chase. Lease purchase financing is only available for named lessees on the Lease Agreement, and can't be transferred to third parties, such as friends or family members. Adding or removing an individual from the lease agreement on the finance application will cause an automatic rejection of the application. You'll need to complete a new application with all named parties.
Check status of your application about 24 hours after submission at chase.com/loanstatus.
Can I negotiate the purchase price of my vehicle?
We don't negotiate the purchase price as you are bound by your signed Lease Agreement. Any negotiations regarding the purchase would need to take place at the dealer prior to signing your Lease Agreement.
How do I get my lease purchase balance?
If you are more than 6 months prior to your maturity date you can go to chase.com.
If you are less than 6 months prior to your maturity date, contact us .
When does my payoff quote expire?
Refer to the documentation provided when the quote was received to confirm the "good through" date.
What is included in the purchase price?
See your Lease Agreement for the agreed upon value of the vehicle and the purchase option fee. Please note that even after you terminate your lease, you may be billed for remaining property taxes, parking tickets, toll charges, and other state or local fees due on your account.
* If you purchase your lease at the end of your term (all contracted payments made), you will pay the residual value provided in your Lease Agreement plus any applicable purchase option fee. Any additional payments made after your contracted term will continue to reduce the residual value amount.
* If you purchase your lease before the end of the lease term, you will pay the adjusted lease balance, plus any past due monthly payments, unpaid late charges, or other amounts due under the lease.
Some states assess sales tax on the purchase price, and you may be required to pay the sales tax to the state motor vehicle titling agency when you transfer the title. Please check with your state motor vehicle titling agency.
I received my purchase documents and it includes a Monthly Payment Due. Why am I paying an extra monthly payment when I am buying the car?
If your payoff quote overlaps your payment due date, you will see an amount for Monthly Payment Due. This isn't an extra payment, as the Monthly Payment Due was subtracted from the Purchase Price and includes a service fee and tax. If the quote had not overlapped your normal payment due date, the amount in the Monthly Payment Due section would have remained in the Purchase Price amount. The Total Purchase Price must be paid to meet the terms of your Lease Agreement and close your account. If the payoff check is posted before the payment due date, you may be entitled to a refund, which may include the service fee and tax. We recommend sending the payoff check via overnight delivery if this is a concern.
How long will it take to process the title after purchase?
To release your title, your account balance must be $0, and we must have received a properly completed odometer statement. We will release the title to the mailing address on the account within 2-10 days. You can expect your title within 15-30 days. Please note that receiving your title could take longer depending on Postal Service delivery.
My dealer said they can take my leased vehicle as a "trade-in" when I buy or lease another vehicle, even before my lease term is up. How does that work since I don't own the vehicle?
Sometimes a dealer will purchase your leased vehicle when you purchase or lease another vehicle, although we (not you) own the leased vehicle. In that case, your dealer obtains a payoff quote from us, which is the full amount you would have paid under your purchase option. Dealers often refer to the purchase of your leased vehicle as a “trade in” although they are just purchasing the vehicle from us. The terms of any trade-in agreement, such as your trade-in allowance on your new vehicle, are solely between you and your dealer. Please note that even after you terminate your lease, you may be billed for remaining property taxes, parking tickets, toll charges, and other state or local fees due on your account.
I purchased a tire replacement product when I signed my lease. Do I need to use it before I turn in my vehicle?
Yes. If you purchased an extended warranty or other optional products from the dealer at time of lease, it's your responsibility to use the benefits before you return the vehicle. Since they are purchased directly from the dealer, we may be unable to determine which products you purchased.
Who do I contact about the products and services I purchased with my lease?
The dealer should have provided you with documentation about the products and services you purchased. These documents explain terms and conditions, coverage, cancellation provisions, how to file a claim and how to contact your service provider. Contact your dealer for additional information.
How do you know when my vehicle was returned?
In most cases, the dealer will let us know when you returned the vehicle, but it's a good idea to contact us within 1 business day of vehicle turn-in to ensure that we have the correct date and information to calculate your lease-end bill, if applicable.
What is included on the lease-end bill?
The lease-end bill may include the following:
* Early termination charge: An early termination charge may apply, including remaining payments, as outlined in the early termination section of your Lease Agreement.
* Deferred payments/Payment balance: If you have any unpaid deferred payments or balances remaining, we will add it to your final Lease-End Bill.
* Excess mileage charge: You can estimate your excess mileage charges by multiplying your excess miles by the per mile charge in your Lease Agreement.
* Turn-in fee (Disposition fee): If you or the dealer don't purchase the vehicle, the turn-in (disposition) fee covers the associated transport and related auction or sale expenses. This is a common fee for leased vehicles.
* Tickets and citations: You are responsible for all tickets, citations, penalties and fines. At our option, we may pay on your behalf any fine that you haven't paid. You must reimburse us for any such amount immediately upon demand. You should contact the issuing authority for questions regarding the ticket, citation, penalty or fee or, if needed, a copy of the ticket or citation.
Title & lien release
What if I can't make my next payment or miss a payment?
Sometimes unexpected issues come up. If you can't make your next payment or you missed your payment, we may be able to help you. Call us at 1-800-336-6675 so we can discuss possible options that may work for you. We accept operator relay calls.
Is McLaren Financial Services part of Chase?
McLaren Financial Services (or "MFS") is the program under which JPMorgan Chase Bank, N.A. ("Chase") provides auto financing to McLaren customers, through participating McLaren dealers. The tradename "McLaren Financial Services" and the McLaren logo are owned by McLaren Automotive Incorporated (McLaren) or its affiliates and are licensed to Chase. Chase is not affiliated with McLaren or any McLaren dealer. Neither McLaren nor any McLaren dealer is an agent of Chase. All vehicle sales are through McLaren dealers.
My name is misspelled on my documentation. How do I get it corrected?
Contact us to complete the update. Your name will need to be correct if you plan to purchase the vehicle. Please note that address changes cannot be made online.
Can I take the vehicle out of the continental U.S. or the country?
During the term of your lease, you need to get permission to take the vehicle out of the country. While not required by us, you may also need written permission to take the vehicle out of the continental U.S. To request permission, call Customer Service at 1-800-336-6675. We accept operator relay calls. Note: Please contact us at least 2 weeks prior to your scheduled departure date.
How are tickets and citations handled for my lease account?
You are responsible for all tickets, citations, penalties and fines. At our option, we may pay on your behalf any fine that you have not paid. You must reimburse us for any such amount immediately upon demand. You should contact the issuing authority for questions regarding the ticket, citation, penalty or fee or, if needed, a copy of the ticket or citation.
Why did I receive a billing statement after I turned in my vehicle?
Billing statements are generated about 2 weeks prior to the due date if the vehicle has not yet been returned and the account closed. If you returned your vehicle, you can disregard the monthly billing statement.