Who do I make my car payment to if the dealership goes out of business?

"What happens to my loan if my dealer goes out of business? I bought my car from a local car dealership who handled all of the financing for me. Shortly after finalizing the loan, I set up autopay and have not missed a payment yet. The other day I noticed that the dealership had a closing sign up front."

“Dealerships usually use outside financing even if they set it up.
If you have autopay set up, you will likely not have to change anything at all. However, if you want to be sure, you should find your original contract and look for the name of the financing company.
The exception to this is of course if the dealership was a Buy Here/Pay Here dealer. If that’s the case, then your loan was likely sold to another finance company and you should contact the dealership to find out who you need to pay.”
Johnny Puckett
Answered on Jul 28, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.

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