Auto Loan Payment Options | Wells Fargo (2024)

You have many options for making payments.

Set up automatic payments

With automatic payments, your payment is debited monthly from your checking or savings account at no cost. To set up automatic payments, sign on, select your auto loan from Account Summary, and then select Set up Autopay. You can also call us at 1-800-289-8004 or download the automatic loan payments authorization (PDF), complete the form, and return by mail or fax.

Pay online

Sign on and select your auto loan from Account Summary. You can make a payment immediately or schedule a payment up to 30 days in advance. Not enrolled in Wells Fargo Online®? Enroll now.

Pay by phone

Call 1-800-289-8004, 24 hours a day, 7 days a week, to use our automated system.

Pay by mail

Make your check or money order payable to Wells Fargo Auto. Be sure to fill in all sections of a money order. (Don't send cash.) Write your account number on your check or money order.

Mail your payment to:

Wells Fargo Auto
PO Box 17900
Denver, CO 80217-0900

Pay in person

You can make payments at any Wells Fargo banking location and a Wells Fargo account isn't required.

Other ways to pay

  • MoneyGram® – Include your 10-digit Wells Fargo Auto account number and Receive Code 1815. Please note: Third-party fees may apply.
  • Western Union® – Include your 10-digit Wells Fargo Auto account number, Western Union City Code CATX, and State Code TX. Please note: Third-party fees may apply.

Additional principal payments

When you pay more than the total amount due, on or before the due date, the additional amount will pay down your principal balance and will be applied to your next payment due. You can pay your account up to 3 months in advance. Once the account is paid ahead 3 months, additional funds go toward principal only.

If you'd like to have additional funds applied to principal only, here are 3 ways to pay:

  • Automatic paymentsSign on and select your auto loan from Account Summary. Select Set up Autopay, and include the additional amount to be applied to principal.
  • Mail – Note the additional principal amount using the payment coupon attached to your statement.
  • Branch – Ask a Wells Fargo team member to apply the additional payment amount to the principal balance.

Note: Principal-only payments won’t change the amount of your next payment or the due date. If you've incurred any late fees, the principal payment will be applied after any past due amounts and charges.

If you have other questions, please see our auto loan FAQs.

Set up automatic payments

With automatic payments, your payment is debited monthly from your checking or savings account at no cost. Sign on to your account to set up recurring payments, or you can call us at 1-800-559-3557, Monday – Friday, 8 am - 6 pm local time.

Pay online

Sign on to your account to make a payment. Not enrolled in Wells Fargo Online®? Enroll now.

Pay by phone

Call 1-800-559-3557, 24 hours a day, 7 days a week, to use our automated system.

Pay by mail

Make your check or money order payable to Wells Fargo Auto. Be sure to fill in all sections of a money order. (Don't send cash.) Write your account number on your check or money order. Mail your payment to:

Wells Fargo Auto
PO Box 51168
Los Angeles, CA 90051-5468

Pay in person

You can make payments at any Wells Fargo banking location and a Wells Fargo account isn't required.

Other ways to pay

  • Pay by MoneyGram® – Include your 17-digit Wells Fargo Auto account number and Receive Code 2459. The company name is Wells Fargo Auto. Please note: Third-party fees may apply.
  • Pay by Western Union® – Include your 17-digit Wells Fargo Auto account number, Western Union City Code WF Auto Finance, and State Code PA. Please note: Third-party fees may apply.

Additional principal payments

When you pay more than the total amount due, on or before the due date, the additional amount will pay down your principal balance and will be applied to your next payment due. You can pay your account up to three months in advance. Once the account is paid ahead three months, additional funds go toward principal only.

If you’d like to have additional funds applied to principal only, here are four ways to pay:

  • Automatic paymentsSign on to your account and include a principal only payment with your recurring payments.
  • OnlineSign on to your account to make a payment and select the principal payment option.
  • Mail – Note the additional principal amount using the payment coupon attached to your statement.
  • Branch – Ask a Wells Fargo team member to apply the additional payment amount to the principal balance.

Note: Principal-only payments won’t change the amount of your next payment or the due date. If you've incurred any late fees, the principal payment will be applied after any past due amounts and charges.

If you have other questions, please see our auto loan FAQs.

Auto Loan Payment Options | Wells Fargo (2024)

FAQs

How to make principal only payments on car loan Wells Fargo? ›

How do I make a principal-only payment?
  1. Automatic payments - Sign on and select your auto loan from Account Summary. ...
  2. Mail - Note the additional principal amount using the payment coupon attached to your statement.
  3. Branch - Ask a Wells Fargo team member to apply the additional payment amount to the principal balance.

How many times can you defer your car payment with Wells Fargo? ›

For example, if your existing due date is the 5th of the month, you can change it to the 20th of the month, or any day in between. This is your first payment due date change. (You're allowed one payment due date change for the entire term of the loan.)

How do I manage my Wells Fargo auto payment? ›

You may cancel your automatic payments through Wells Fargo Online or by calling Customer Service at 1-877-805-7744. To modify your automatic payments, please call Customer Service at 1-877-805-7744. It can take 30 - 60 days to process your new automatic payment enrollment form.

Can I pay my Wells Fargo auto loan at a branch? ›

Branch. You can pay off your loan at any Wells Fargo banking location and a Wells Fargo account isn't required.

What happens if I pay an extra $100 a month on my car loan? ›

Your car payment won't go down if you pay extra, but you'll pay the loan off faster. Paying extra can also save you money on interest depending on how soon you pay the loan off and how high your interest rate is.

Do extra payments automatically go to principal? ›

Ideally, you want your extra payments to go towards the principal amount. However, many lenders will apply the extra payments to any interest accrued since your last payment and then apply anything left over to the principal amount. Other times, lenders may apply extra funds to next month's payment.

Does Wells Fargo have a grace period for car payments? ›

Wells Fargo does not recognize “Grace Periods,” “Late After,” “Postmarked By” dates, or other similar designations when considering the reimbursem*nt of late fees or finance charges.

Can I defer my car payment for 3 months? ›

If you find yourself facing financial challenges, you may be wondering, “Can you defer a car payment?” Yes, many lenders allow their borrowers to defer a car payment to the end of their loan when necessary. There numerous reasons to defer a car payment. Anyone can find themself in a financial emergency.

Does deferring a car payment hurt credit? ›

While deferred payments don't directly impact your score, you don't want to rely heavily on them as a way to make your other payments. To maintain a healthy credit score, monitor your credit and find ways to adjust your budget so that you can get back into a routine of making regular payments.

What is the current Wells Fargo auto loan rate? ›

As of July 2022, Wells Fargo's interest rates start at 3.99% for the most qualified customers and extend up to 19.99%, with repayment terms spanning from 24 to 75 months. As with most indirect auto lenders, Wells Fargo doesn't publish online the details of its minimum qualification requirements.

Can I pay my car note months in advance? ›

It is possible to pay off your car loan early but check your financing documents first to see if there is a penalty for pre-paying your loan.

Does Wells Fargo do auto refinancing? ›

Does Wells Fargo Bank offer auto refinancing? No, Wells Fargo no longer offers auto refinancing. You'll need to go through a different auto lender or bank to refinance, buy out a lease or buy a vehicle from a private party.

What happens if you're 5 days late on car payment? ›

If you're late making your car payment, the lender may charge you a late fee. This fee is often a set percentage of your overdue balance, but it could also be a flat rate. For example, if your car payment is $350 per month and your lender assesses a 5% late fee, your lender may charge you a late fee of $17.50.

How to pay a Wells Fargo loan? ›

There are many ways that you can make payments: Sign on to Wells Fargo Online® to make a one-time or set up recurring payments. Set up automatic payments from your checking or savings account using Wells Fargo Online. Pay in person at your local Wells Fargo branch.

Who has the lowest car loan rates right now? ›

Compare Car Loan Rates
Top Auto Loan LenderLowest APRTerm Length
PenFed Credit Union5.24%36 to 84 months
Auto Approve5.24%**12 to 84 months
Consumers Credit Union6.54%Up to 84 months
Auto Credit ExpressVariesVaries
2 more rows

How do I make a principal-only payment on my car? ›

How to make principal-only payments
  1. Lump-Sum: Pay off the entire balance or a large portion of it, at one time. ...
  2. Bi-Monthly: Make your scheduled payment and then pay an extra half-payment or more every two weeks.
  3. Round Up: Round your payment up to the nearest attainable amount.
Aug 31, 2022

How do I pay my principal-only loan? ›

Many lenders offer the option to put money toward your principal. Select that option and specify your amount and date. Phone payments: You can call your lender to make an additional payment toward your principal. Have your account information ready.

Can I pay off the principal on my car loan early? ›

Yes, you can pay off a 72- or 84-month auto loan early. Since these are long repayment terms, you could save considerable money by covering the interest related to a shorter period of time.

Is it better to pay extra on principal, monthly or yearly? ›

Since your interest is calculated on your remaining loan balance, making additional principal payments every month will significantly reduce your interest payments over the life of the loan. By paying more principal each month, you incrementally lower the principal balance and interest charged on it.

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