If my name is spelled wrong on a car loan, do I still have to pay it?

"I don't like my car loan lender. They seem to have shady business practices and they charged me a huge interest rate.

I was going over the paperwork and I found that they misspelled my name.

Can I stop paying the loan due to this error?"

Answer
“You still have to pay your car loan, as a clerical error or misspelling isn’t grounds to abandon a legal contract.
If you’re worried about the error, you can call the lender and amend the spelling.
As far as not liking your lender, start shopping around for a refinance. As long as your credit is average and you’re not upside-down on your car loan, you should be able to find a better rate.”
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Eric Schad
Answered on Jun 16, 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.
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