JIM HENRY

Chase chases subprime by going local

Jim Henry is a special correspondent for Automotive News.
It's pleasant, somehow, that there's room for human judgment in approving auto loans, at least in the subprime sector.

Chase Auto Finance is a pioneer in automated approvals for low-risk, prime-category loans that are virtually untouched by human hands. But even mighty, high-tech Chase acknowledges that the subprime loan business requires more of a feel for the local economy, for individual finance managers, and for their customers.

So Chase is opening three new offices dedicated to subprime. Don't get too sentimental, though. The human touch works both ways. When you're local, your collections department benefits from local savvy, too.

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