What happens if I stop paying my car loan?

My lender has been jerking me around lately, and I feel like they don't care about me as a customer. I don’t want anything to happen to my credit, but this is really frustrating, and I’m tired of giving them my money. What happens if I just decide to stop paying my car loan?

I’m really sorry to hear about your lender! Unfortunately, though, refusing to pay your car loan means that you can risk the following:
  • A massive drop in your credit score
  • Repossession of your vehicle
  • The inability to get a loan of any kind for the foreseeable future.
It is definitely frustrating to be at odds with your lender, but keep paying your car loan—eventually, you’ll pay it off, and will never have to deal with them again. In the meantime, start shopping around for a new lender to refinance your vehicle. You might find that you love your new lender, they’re willing to work with you, and you get a lower interest rate! And if your payments were too high in the past, the refinancing can also reduce how much you pay per month.
You may also want to consider shopping around for new car insurance too. The Jerry app makes this easy—we’ll get you customized quotes from top providers, so that all you need to do is choose the plan that works best for you. Who knows, you may just end up loving your new car insurance company just as much as your new lender!
Best of luck with everything!
Eric Schad
Answered on Nov 22, 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.

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.
Let Jerry’s experts help you find savings on your car insurance!
No long forms or spam · Get quotes from 40+ carriers
Find insurance savings (100% Free)
rating primary
4.7/5 Rating on App Store

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
Find insurance savings — it's 100% free