To make your monthly car loan payments you can arrange a pre-authorized payment with your bank, pay on the lender’s website, make a wire transfer, and pay with your mobile phone.
- Arrange a pre-authorized payment with your bank: This will automate payments to your lender on a set schedule.
- Pay on the lender’s website. Some lenders allow you to log into your account on their website and make a payment with your savings or checking account.
- Make a wire transfer: This method carries fees, but it can be useful when you missed a payment, or you want to prepay your car loan.
- Pay with your mobile phone: Use your bank’s mobile phone app to make a payment to your lender.
Not every lender will accept these payment methods. Therefore, make sure to confirm before signing your loan contract.
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