Chase Auto head of private label captive finance on growth, competition

A rise in AI and technology adoption, shifting EV strategies and competition in the automotive market is creating an opportunity for banks to tap into private-label financing. Chase Auto is eyeing those opportunities for growth as manufactures look for ways to stay relevant in a market defined by affordability challenges and changing consumer dynamics, John Thacker , president of private label captive finance, told Auto Finance News . “It's a great opportunity for private-label captive relationships to grow right now with all the tech that's coming into the automotive segment,” he said. “It’s going to take a lot of investment on the part of the OEMs to make sure their products are staying advanced and [relevant] in [the] market. From a captive standpoint, not having to have this huge amount of balance sheet gives them the opportunity to allocate money to those resources.” Chase Auto is the private-label finance provider for manufacturers including Aston Martin , Jaguar Land Rover , McLaren , Subaru and Rivian . The bank also on March 5 renewed its relationship with Maserati to power Maserati Capital USA . Dedicated programs for manufacturers are a growing opportunity for auto lenders, evidenced by Wells Fargo Auto also establishing a deal in May 2025 to be the preferred lender for Volkswagen in the U.S., leading to a surge in originations . Thacker was named head of private label at Chase Auto in March 2025 and previously held leadership roles at captives Yamaha Motor Finance , Hyundai Capital America and Ford Credit . “I came from the OEM-owned captives; I spent my whole career there,” he said. “Now that I'm at the bank and I see the full spectrum of the things that we can do that's not just auto financing, I think it services our OEMs and dealers very well.” "I came from the OEM-owned captives ... now that I'm at the bank, I see the full spectrum of the things that we can do." -- John Thacker, Chase Auto Chase Auto’s originations increased 1.9% year over year in the fourth quarter of 2025 to $10.8 billion, while loan and lease outstandings landed at $89.7 billion, up 5.1% YoY. Auto Finance News talked with Thacker about Chase Auto’s 2026 private-label captive finance strategy. What follows is an edited version of the conversation. Auto Finance News : What are your priorities in 2026 given the opportunities in private-label captive finance? John Thacker : For me, the big item is growing our commercial floorplan business. We have this great captive value proposition, and part of the captive value proposition has always been around wholesale support, too. There's an opportunity there, and we're working with our commercial services team to make sure we're lockstep and pushing that product. For other OEMs, potentially, it's really about who's coming to market. It seems like a lot of what you're seeing coming to market over the last few years have been largely EV and direct-to-consumer brands . I think that we're a good option in that space as well. The customer experience is important to us, and some of these direct-to-consumer providers like Rivian and Tesla , what they want to be a differentiator is their customer experience. We’re willing to talk to any auto manufacturer that is looking for that captive-type relationship. AFN : How are you supporting your OEM relationships in this challenging market? JT : Automakers are looking for the bank captives to be competitive and consistent in the market right now. The affordability issue is part of it from the consumer base, so everybody's trying to figure that out. Then from the other side, when you look at the brands that we service, their imports are EV manufacturers. Now they're sidled with increased incentive costs because of the tariffs. They're dealing with the EV brands no longer having that tax credit . Being the partner helps them keep the sales pace up and is a competitive option. We’re looking at the plans and programs that [automakers] can put in market that are going to resonate and drive the right growth. We’re seeing a shift from lease to more retail. EVs are still a great lease vehicle, overall, and there’s a growth opportunity there as it is a low-risk way for somebody to try an EV for the first time. Several of our manufacturers have launched, or are launching, new products this calendar year, and it's key to make sure that we have the right mix of programs to support a successful launch, from a competitive standpoint. For example, if you're an existing Subaru customer that's financed with Chase, we'll target [you] with an email: “Hey, you have a new product coming out. Are you aware?” and things to drive them back to the dealerships and spotlight new products. AFN : What other shifts are you seeing in the market in terms of financing programs? JT : What we're seeing in the market — and it has been growing for a while but is really taking off with the affordability issue — is the increase in 84-month extended term financing . "[What] is really taking off ... is the increase in 84-month extended term financing." The problem with 84-month financing is, yes, it keeps the payment low, but it also probably takes the customer out of the market longer. The return-to-market times are going to get extended. Yes, [the dealers] can get them in the car now, but at 84-month financing , that trade cycle gets longer so, over time, they're going to have to work more on that. We're also seeing some competitive lease programs in market where people are trying to keep the payments down, but it hasn't been as big a shift to lease as I expected with the affordability issues. Incentivizing a lease is more expensive than retail. With the tariffs, [manufacturers are] having to be dialed in with where they spend their incentive budgets . That's part of why you're seeing a little bit more retail right now. AFN : What industry trends are top of mind heading into the rest of 2026? JT : We're looking at customer sentiment. As used car values continue to go up, you could see more people holding on to their cars longer, or buying out their leases, or going to used from an affordability standpoint. No matter what you do, everybody is talking about AI . We ultimately believe that agentic AI is going to change the shopping structure. [Customers] are not just Googling anymore. They're going into their AI chatbot and saying, “Okay, I live here. I have a family of four. I drive this much. These are the attributes I'm looking for. What's the best car, the best price and financing?” We all have to be prepared for probably one of the bigger changes in the way customers approach the market. Auto Finance News will present multiple invaluable events for industry professionals in 2026, starting with Auto Finance Summit East and Auto Finance Capital Summit in May. Register by March 27 for early-bird savings. To see event agendas and register, visit autofinance.live .

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Chase Auto head of private label captive finance on growth, competition

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