Expert Advice for Auto Loan Payments

All Questions on Auto Loan Payments

How do you pay off your car loan early?
I took out my car loan years ago, and now I have a much better-paying job. I’ve been thinking about paying off the loan. Can I pay off the rest of my car loan early? If so, how?
Jack Walsh
Dec 10, 2021
If my car is totaled, how does USAA determine the actual cash value of my vehicle?
How does USAA determine the actual cash value of a vehicle? My car was totaled by another driver, but I have full coverage through USAA. I've heard that USAA will give me the cash value of my vehicle, but then I'm still on the hook for any remaining balance on my loan.
Eric Schad
Jul 16, 2021
When can I refinance a car loan?
I'm hoping to refinance my car loan to get a better deal. When should I do that?
Liz Jenson
Sep 21, 2021
How do I know how much interest I'm paying on a car loan?
I just signed my first car loan and while I know the interest rate, I'm not sure how much interest I'm paying per month or overall. Where can I find the amount of interest I’m paying on my car loan overall?
Eric Schad
Dec 13, 2021
How do you pay Toyota Financial with a credit card?
Can I pay my Toyota Financial bill with my credit card instead of my bank account? My paycheck is going to be late, and I would be much more comfortable paying with my credit card this month if that’s an option.
Liz Jenson
Jan 07, 2022
How can I check the remaining balance on my car loan?
I’ve been paying my car loan for a while now and I’m not sure, but I think I’m coming up on the last few months. How can I check the balance on my loan?
Chloe Jenkins
Dec 29, 2021
How badly does a car repo affect your credit?
Will a car repo badly affect my credit score? My car is going to be repossessed and I'm really scared about my credit score.
Liz Jenson
Oct 26, 2021
Should I pay off my car loan early?
Is it a bad idea to pay off a loan before the due date? I want to use my tax return to pay off my car loan but I’m not sure if it’s a good idea to pay it off early or not. Should I pay off my car loan early?
Liz Jenson
Feb 14, 2022
Can I pay my monthly car loan bill with a Chase credit card?
I want to start paying my monthly car loan with my Chase credit card because I can get a $500 bonus if I spend $1,500 in the first three months. Can I do this?
Eric Schad
Dec 06, 2021
Can you pay down the principal on your car loan?
I’ve had the same car loan for a couple of years. I’m much more financially secure now than I was when I got the loan. I really want to pay it off as quickly as I can. How do you pay down the principal on a loan?
Chloe Jenkins
Nov 17, 2021
What's the best way to get out of an upside-down car loan?
I'm about $5,000 upside-down on my car loan, but I want to refinance. How can I get out of this situation so I can refinance my car?
Eric Schad
Dec 14, 2021
Can I trade in a car with a loan?
Is it possible to trade in a car with a loan on it? My husband and I are getting ready to have our third child. My car doesn't really have enough room for three kids, and I want to trade it in before the new baby comes along. The issue is I'm still paying off the loan for my current car.
Liz Jenson
Nov 05, 2021
How can I lower my car payment?
How can I lower my monthly car payment? I just got a luxury car and paid a hefty down payment for it to lower my financing rate. Is there any way I can save further monthly?
Hana Sabah
Sep 30, 2021
How do you calculate the interest paid on a car loan?
Is there a way to calculate the total interest that I will pay on my car loan without doing a bunch of math? I’m trying to decide if I should refinance and I found an equation for it but it’s super confusing and I would rather just type some numbers into a calculator.
Liz Jenson
Dec 14, 2021
How do I refinance with Toyota Financial?
Is there any way to refinance my loan with Toyota Financial? I'm paying too much every month, and I really need to lower my payments.
Liz Jenson
Oct 27, 2021
Does a car loan impact your credit utilization ratio?
I want to get a car loan, but I'm worried about my credit score. How does a car loan impact my credit utilization ratio, or my credit score in general?
Eric Schad
Dec 13, 2021
What if I pay off my car loan early?
What will happen to my credit if I pay off my car loan early? I have a good mix of different credit accounts—a mortgage, student loans, and two credit cards. I want to limit the number of active accounts I have to manage, so I’m considering paying off my car loan to not worry about it.
Phoebe Mah
Dec 15, 2021
How do I lower the payments on my car loan from Capital One?
I currently have a car loan from Capital One, and my payments are about $400 per month. I recently switched jobs to a position I love, but I unfortunately had to take a pay cut. Is there any way I can lower my monthly loan payments on my car loan?
Eric Schad
Nov 22, 2021
How do I pay the least interest possible on a car loan?
I'm a bit thrifty, so I'm trying to minimize how much I pay on my car loan. How do I get the lowest interest rate possible?
Eric Schad
Dec 13, 2021
How do I pay toward the principal of a car loan?
I want to pay off my car loan faster, so I decided to put money toward the principal each month. The only problem is that I’m not sure how to do it. How do I make principal-only payments toward a car loan?
Eric Schad
Dec 01, 2021
Can I refinance my car loan with the same bank?
When I had to buy my car, my credit wasn't in the best shape. It has been a few years since then, and my credit is much better now! I was thinking about trying to refinance my car to get lower interest payments. Can I refinance my car loan with the same bank?
Shannon Martin
Nov 01, 2021
Do credit unions have the best car loan rates?
I've been on the ropes about financing a car, but my friend said credit unions can give you super cheap rates. Is this true?
Eric Schad
Nov 04, 2021
How can I pay off my car faster?
Do you have any tips on how to pay off a car loan faster? I want to buy a new SUV eventually, but need to take care of my auto loans first. What’s the fastest way to pay off my loan?
Carlos Kirby
Nov 12, 2021
Is a 72-month car loan a bad idea?
I want to get a 72-month car loan, but my mom says I should go with something shorter. Is she right?
Eric Schad
Nov 03, 2021
Can I remove my cosigner from my car loan?
My partner and I recently broke up. He was the cosigner of my car loan and I want to remove him. Can I do this?
Will Baldwin
Nov 03, 2021
What happens when you pay off a car loan?
I just finished paying off my first-ever car loan, and I’m not sure what’s next. What happens when you pay off a car loan?
Jack Walsh
Dec 01, 2021
Can you add a cosigner to an existing car loan?
I've taken quite a hit on my credit and income in recent months, and I'm worried about my car loan interest rate. Can I add a cosigner to my existing car loan in case I can't pay?
Eric Schad
Oct 19, 2021
How do you get bank approval for a car loan?
What steps can I take to make sure I get bank approval for a car loan? I really need a car, but I’m worried that my application will be rejected.
Liz Jenson
Dec 14, 2021
What's the easiest way to walk away from a car loan?
I don't have the cash to pay for my car loan anymore. What's the easiest way to get out of it or walk away from the loan?
Eric Schad
Nov 15, 2021
Is it smart to pay off a car loan early?
I recently won a decent amount of money playing the lottery, and I want to use it wisely rather than waste it. I was thinking of using it to pay off my car loan, but is it smart to pay off a car loan early?
Jack Walsh
Nov 26, 2021

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