JPMorgan Chase & Co. Consumer Loan Complaint

JPMorgan Chase & Co. Consumer Loan department,

Vehicle loan Shopping for a loan or lease California

I 'm a long time Chase bank customer with an excellent credit score ( - fico ) and income ( -/annual ) and I submitted a used auto loan application for - over the phone based upon their advertised used auto loan rate of 2.06 %. This rate had the following assumptions posted : loan to value of 95 % for used vehicle, excellent credit history, and loan amount of -. After submitting my application, I received a quoted rate of 4.79 %. I requested to speak to the underwriter who told me that the high rate was due to the loan to value for the auto loan. I asked them to update the loan amount to reflect the 95 % loan to value for my requested vehicle ( - ). She updated the application and came back with a quoted rate of 2.79 %. I asked her why my rate was still not the advertised 2.06 % and she said because I my loan was n't using the specific model/year in the assumptions. I believe this is a clear instance of bait and switch tactics as there 's probably such a minuscule probability that an applicant have the exact vehicle model/year, credit score, and Chase checking account to qualify for the advertised rate.