"Can I make changes to the terms of my car loan after I've signed the loan but before picking up the car? "
I'm starting to wonder if I made the right decision by agreeing to my new car loan. Can I still change its terms?
Answer provided by
Answered on Apr 05, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“Probably not. When you sign on the dotted line, you’ve agreed to all the terms of the loan, including the interest rate, payment date, and the length of the loan. However, you may be able to call the lender to make adjustments to the terms of the loan. In rare instances, they may allow a few changes (such as to the payment date).
If you really can’t live with the terms of the loan, your best plan of action is to refinance the loan. Keep in mind that interest rates can fluctuate. So if the interest rate goes up, is it worth it? Only you can answer that question, but it’s something to keep in mind if you want to refinance to change the terms of the loan. “
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Browse by topics
What others are asking
How long does it take to add another person to your car insurance?
My dad wants to add me to his car insurance policy. I'm 17 years old and I plan to keep living with him for the next few years. How long will it take?
Apr 12, 2021
How do insurance companies determine compensation for a stolen car?
My car was stolen last week. It sucks but I do have car insurance for it. How does my car insurance company figure out how much my car was worth? It was a few years old, but in pretty good condition.
Mar 12, 2021