If you're experiencing financial challenges, or have long-term or more permanent financial difficulties, we may be able to help.
If you're unable to make your payment in full, please call us at 1-800-289-8004, and we'll review your account with you to determine next steps. Please keep in mind that if we don't receive the full payment amount by the due date, your account is still considered past due.
Here are some actions that may help:
Changing your payment due date
If changing your payment due date will help your budget and your ability to make payments on time, see How do I change my payment due date? and review the eligibility criteria.
Deferring a payment and extending the loan maturity date
A payment deferment pushes out your due date and extends the loan maturity date. Call us for more information and to see if you're eligible for a deferment.
Making payment arrangements
The more we understand about your situation, the better we'll be able to suggest payment options. Call us to discuss a repayment plan that will work with your needs.
Surrendering your vehicle
If you're unable to make your payments and don't feel that any other options will work, you may be able to voluntarily surrender your vehicle. Call us for more information.
Frequently asked questions
Before you apply for a due date change, you'll need to meet the following criteria:
- You've made the first payment on your auto loan.
- Your requested payment due date shouldn't be more than 15 days from your existing payment due date. For example, if your existing due date is the 5th of the month, you can change it to the 20th of the month, or any day in between.
- This is your first payment due date change. (You're allowed one payment due date change for the entire term of the loan.)
- Your account is current or no more than 10 days past due.
If you change your due date, your loan maturity date will be adjusted. Your monthly payment amount will remain the same.
To request a due date change, please call us at 1-800-289-8004.
A payment deferment pushes out your due date and extends the loan maturity date.
Example
If your payment due date is scheduled for March 15, 2024, and you were approved for a one-month deferment, your next payment date would be April 15, 2024. If your maturity date is January 15, 2025, and you are granted a one-month deferment, your maturity date will be February 15, 2025.
Call us for more information and to see if you are eligible for a deferment.
We can work with you on payment arrangements to help you get back on schedule. The more we understand about your situation, the better we'll be able to suggest relevant options. Call us so that we can assist you.
If you're unable to make your auto loan payments and would like to surrender your vehicle, call us so we can discuss your options. A voluntary surrender means we'd take possession of the vehicle, sell it, and apply the amount we receive from the sale to the amount you owe us. If the proceeds from the sale are not enough to pay the full amount you owe us, you may be responsible for paying the remaining balance.
Grace periods vary from state to state, so please review your loan contract for information about the grace period and late fees. If you're unable to find your loan contract, please call us for more information or to request a copy.
If your payment is 30 or more days late, it may show up on your credit report as a late payment. The degree to which a late payment affects your credit score can depend on things like how many days past due the payment is, how recently you've been past due, and how frequently you’ve made late payments.
Review your credit report regularly so you know where you stand. Request a free copy of your credit report from annualcreditreport.comOpens Dialog or from each of the nationwide consumer reporting agencies: Equifax, Experian, TransUnion, and Innovis.
The status of your account may have an impact on your ability to pay online. For example, if your account is past due, you can make a same-day payment but may not be able to schedule a future payment. Also, if you've had more than two payments with insufficient funds in the past 12 months, you won't be able to make a payment online. Call us for more information or if you need assistance making a payment.
If a payment is returned unpaid, we may attempt to present the payment to your financial institution one more time. Your financial institution may charge a fee each time the payment is returned. If the payment doesn't clear, you’ll need to resubmit the payment once you have sufficient funds in your bank account.
The SCRA may allow us to adjust the interest rate on your auto loan to 6%, which may lower the payment. For more information, refer to the Servicemembers Civil Relief Act or call us at 1-877-254-9687, Monday – Friday, 7 am - 8 pm Central Time. For general assistance outside of SCRA hours, call us at 1-800-289-8004.
Information about vehicle repossession
If you don't make the loan payments owed under your contract, we may repossess your vehicle. After repossession, you may need to pay to get the vehicle back or we may sell the vehicle to pay off your account. If you're delinquent on your payments and concerned about possible repossession, call us as soon as possible.
If your account is past due, you may receive a letter from us with a requirement to strictly comply with the auto financing agreement that you signed. This letter lets you know what to do to bring your account current, and how to avoid repossession. If you have questions, call us right away so we can discuss options with you.
If your account is past due, you may receive a Right to Cure letter from us. This letter lets you know what to do in order to bring your account current – or how to "cure" the default and avoid repossession. If you have questions, call us right away so we can discuss options with you.
If we repossess your vehicle, there may be options to get it back. After repossession, we'll send you a letter with specific details about your account. In some cases, you can "redeem" your vehicle by paying the full amount outstanding (plus repossession costs), or "reinstate" your account by paying the outstanding monthly payments (plus repossession costs). Each situation is different, and we want to help you. Please call us at 1-888-937-9992, Monday – Thursday, 7 am - 7 pm and Friday, 7 am - 6 pm Central Time for more information.
If we repossess your vehicle, and you don't redeem the vehicle or reinstate the account, we'll sell the vehicle at auction and apply the amount we receive from the sale of the vehicle to the amount you owe us. If the proceeds from the sale are not enough to pay the full amount you owe us, you may be responsible for paying the remaining balance.
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