Will a job loss cause me to lose my car loan?
"I recently lost my job. I still have some money saved up for my car loan.
But will the lender revoke my loan if they find out I lost my job?"
Answer provided by
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.
“No, you won’t lose your car loan, even if your lender finds out you lost your job.
As long as you keep making the payments, you shouldn’t run into any issues.”
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
Is there any way to get out of being a cosigner on my ex-boyfriend's car loan?
"I cosigned on my boyfriend's car loan because he had poor credit. Six months later, we've now broken up. Is there any way I can get my name as a cosigner off my ex-boyfriend's car loan?"
Jun 17, 2021
Do I need to be added to my brother's car insurance if I'm going to borrow his car during a one-month visit?
I'm going to visit my brother in Indiana and I'm going to borrow the car off and on for a month. Should he add me to his policy?
May 04, 2021
Does $250 a month seem expensive for car insurance on a 2007 Honda Civic in New Hampshire?
I am 20 years old and my dad is listed as the named insured on my policy. I am an additional driver and have completed driving school. I know people who pay a lot less. Am I paying too much?
Apr 20, 2021