How to Get My Car Payment Taken From My Checking Account

Many lending banks offer an option to have your car payment taken from your bank account, although you most likely will need an account at the bank to have this done. If you financed through a local bank, you were probably required to open a bank account anyhow, so you may have to start using it if the bank requires you to. Some banks even offer a rate discount for getting set up on an automatic payment plan. In order to find out the benefits and requirements, you must call your lender for information.

Instructions

1

Call your lender. You can find your lender's phone number and account information on your loan contract or payment booklet if you were sent one. If you cannot obtain your loan information because you just purchased the vehicle, call the dealer you purchased from to get the correct information.

2

Connect to the bank's customer service department. Tell the representative you would like to arrange for your loan to be taken from your checking account. Ask if the bank offers any benefits for setting up automatic monthly payments, such as a rate discount.

3

Follow your bank's instruction to set up the new payment plan. You may be asked to come in and sign authorization paperwork, or have the information mailed to you. Or, your bank may require you to complete the authorization online.

4

Send in a voided check if your bank asks you to do so. The bank may also just ask for a check by phone (meaning you would have to provide a canceled check's information). You may have to obtain your checking information if you use a different bank for your checking and savings account, and may have to call that bank to obtain your account and bank routing number to complete the automatic debit process.