Dealer Services
Dealer Services

What happens if I miss a payment or make a late payment?

There may be a fee for missing a payment or making a late payment. You can find this information in your loan agreement. Since there is a daily interest charge on loans, more interest accrues when there are more days between payments. As a result, you may pay more interest over the life of the loan.

Example
If the daily interest charge is $2.50 and it has been 30 days since your last payment was made, the interest due will be $75.00 ($2.50 x 30 days).

Let’s use the same daily interest charge but now say it has been 40 days since your last payment was made, the interest due will be $100.00 ($2.50 x 40 days).

To learn how to calculate the daily interest charge, visit How do I calculate interest on an auto loan?

If you are having trouble repaying your loan, there may be options available to you. Please call us at 1-800-289-8004 if you are having difficulty making payments.

There may be a fee for missing a payment or making a late payment. You can find this information in your loan agreement. Since there is a daily interest charge on loans, more interest accrues when there are more days between payments. As a result, you may pay more interest over the life of the loan.

Example
If the daily interest charge is $2.50 and it has been 30 days since your last payment was made, the interest due will be $75.00 ($2.50 x 30 days).

Let’s use the same daily interest charge but now say it has been 40 days since your last payment was made, the interest due will be $100.00 ($2.50 x 40 days).

To learn how to calculate the daily interest charge, visit How do I calculate interest on an auto loan?

If you are having trouble repaying your loan, there may be options available to you. Please call us at 1-800-289-8004 if you are having difficulty making payments.

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