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How long does a car loan stay on your credit?

I think I’m at risk of defaulting on my car loan. I know it’s bad, but I definitely bit off more than I could chew with this car loan. So I’m wondering if I default, how long will it stay on my credit?

avatar
Chloe Jenkins · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
I’m so sorry to hear that you’re struggling with your
car loan
. If you think you can’t pay anymore, you should reach out to your lender. Typically, lenders are willing to work with you to find a situation that can work for you.
That said, a defaulted car loan will stay on your credit report for seven years, while a loan that is fully paid off will stay on your credit report for ten years. Defaulting on your car loan can have serious consequences, including negatively impacting your credit score, which can affect other areas of your life.
Another option to consider before defaulting is refinancing your car loan. When you refinance, you are essentially signing a new contract, meaning you can renegotiate the terms of your loan. If you’re close to defaulting, refinancing may help reduce your payments and interest rate.
If you’d like help looking at your refinancing options, start with the
Jerry
app. You can compare quotes from multiple lenders without worrying about your credit history. Jerry’s app instantly connects you with top companies to find a loan that best meets those needs.
MORE: Does refinancing a car hurt your credit score?
View full answer 
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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