The default settings on the CamChase property dialog are for a camera that barely moves.
You can set 'Translation Speed' to 0 for a completely fixed camera.
A chasing camera can be achieved with these settings.
These settings are for a more rigid (and more classic) chasing.
Note how the camera stays always behind the target object, holding its relative position as you have set it in the Virtual Editor.
On board cameras require a totally rigid chasing.
Note that the camera will keep its relative position from the target object, as you set it in the Virtual Editor.
Here is a more typical on-board camera.