How to Make a Payment on an Existing Car Loan

If you just bought a car and don't know who to make your payment to or which form of payment to send, you should contact your loan provider to ensure you follow your lender's guidelines. Doing so can decrease confusion and ensure your timely payment is correctly applied to your loan. Most banks do not accept a credit card for payment; cash, balance transfers, check or money orders are commonly accepted. If your lender is local, you can go in to the bank to make your payment.

Instructions

1

Call the dealership you bought your car from if you are unsure who your loan provider is. Ask a dealer representative for the name and phone number of your bank. Also ask when your first payment is due; most are due within 30 to 45 days of purchase, and if it is too soon, your bank may not have processed your paperwork yet.

2

Call your bank and follow the prompts to reach its customer service department. Have your loan account number ready; if you do not have it, have your Social Security number ready. Also have your vehicle identification number (VIN) ready in case it's needed; you can find the VIN on any of your vehicle paperwork or insurance card.

3

Ask the bank representative where to make your payment, how much is due (to verify if necessary), which forms of payment are accepted and if the bank offers an online payment method. If so, you may need to set up an online account, which the representative can help you with.

4

Follow the bank's payment requirements by obtaining the form of payment it needs, whether you need to write a check or obtain cash or a money order. If sending in the payment, make sure your check or money order lists your account number on it so the payment is correctly applied to your loan.