Auto Loan FAQs - Wells Fargo

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Auto Loan FAQs

    

Understanding your auto loan

How do I find my account number?

Your 10-digit account number is at the top of your monthly statement and on the payment coupon at the bottom of the statement.

On wellsfargo.com, your 10-digit auto loan account number is truncated to the last 4 digits for security purposes. To view your complete account number, sign on, select your auto loan from Account Summary, and then select the account number (e.g. XXXXXX1234) on the Auto Loan page.

How do I read my auto loan statement?

Your auto loan statement provides timely information about your account, such as your payment amount due and payment activity. Find out more about how to read your statement (PDF).

You can access up to 12 months of electronic statements by enrolling online. Sign on, select your auto loan from Account Summary, and then Enroll in eStatements.

Are there fees on my account?

Your contract has information regarding late fees, finance charges, and other fees or charges that may apply to your loan account. If you need a copy of your contract, please call us.

Note: Fees may apply for payments made through third parties such as MoneyGram and Western Union.

How is interest calculated on my auto loan?

With a simple interest loan, interest accrues daily. As you pay off the principal balance, the daily interest charge will decrease.

To calculate the daily interest charge, first convert the interest rate percentage into a decimal by dividing the interest rate by 100. Multiply that number by your principal balance, and then divide by the number of days in a year (365 or 366 for a leap year). This will give you the daily interest charge.

Example
If the loan has a 9% interest rate and a $10,000 principal balance, you convert the interest rate into a decimal: 9 / 100 = .09, and calculate the daily interest charge: .09 x $10,000 / 365 = $2.47 daily interest.

What is a simple interest loan?

Simple interest is a method of allocating monthly loan payments between interest and principal. The amount of your payment allocated to interest is calculated based on your unpaid principal balance, the interest rate on your loan, and the number of days since your last payment.

Example
If we receive a payment and it has been 29 days since your last payment, then you will be charged 29 days of interest on the unpaid principal balance of your loan. The remainder of your payment is credited to principal and reduces the unpaid principal balance on your loan.

How much of my monthly payment is interest?

With a simple interest loan, there is a daily interest charge and you will pay interest on the number of days between your payments.

Example
If the daily interest charge is $2.50, and it has been 30 days since your last payment was made, the interest due will be $75.00 ($2.50 x 30 days). Let’s use the same daily interest charge, but now say it has been 40 days since your last payment was made, the interest due will be $100.00 ($2.50 x 40 days).

If you defer a monthly payment, this will extend the term of your loan, and the interest will continue to accrue until the next payment is made. The outstanding loan balance will continue to accrue interest until the loan is paid off.

The total interest paid over the term of your loan may be different from what is shown on your loan agreement. If you pay your loan early, the amount of interest will be less, and if you pay your loan late, the amount of interest will be more.

Why does the amount of interest I pay change each month?

The amount of interest paid each month changes because the daily interest amount decreases as the principal balance decreases.

At the beginning of the loan, the principal balance is higher, and as a result, the daily interest amount is higher. As you start paying down your principal balance, the amount of interest you pay each month decreases.

Additionally, interest accrues daily and the number of days between payments makes a difference. More days between payments results in more days of interest charges and fewer days between payments results in fewer days of interest charges.

Payments

How do I make a payment?

You have many options for making payments.

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.

Set up automatic payments

You decide which savings or checking account you would like the money to come from each month. There is no charge for enrollment, and you can easily change or cancel the automatic payments online.

To set up automatic payments, sign on, select your auto loan from Account Summary, and then select Enroll in Auto Pay. You can also download the automatic loan payments authorization (PDF), complete the form, and return by mail or fax.

Pay by phone

To make a payment by phone, call 1-800-289-8004. Automated payment is available 24 hours a day, 7 days a week. To reach a representative, call Monday – Friday, 7 am - 9 pm, or Saturday, from 7 am - 5:30 pm, Central Time.

Pay by mail

Include the payment coupon from your statement and write the account number on the check or money order. Do not send cash. Send checks or money orders to the following address:

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

Pay in person

Visit any Wells Fargo branch to make an auto loan payment in person.

Other ways to pay

  • MoneyGram® - Include your 10-digit Wells Fargo Auto account number and Receive Code 1812. 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.

How do I set up automatic loan payments?

You decide which savings or checking account you would like the money to come from each month. There is no charge for enrollment, and you can easily change or cancel the automatic payments online.

To set up automatic payments, sign on, select your auto loan from Account Summary, and then select Enroll in Auto Pay. You can also download the automatic loan payments authorization (PDF), complete the form and return by mail or fax.

Can I set up reminders for my loan payments?

You can set up email notifications for your account to let you know when your payment is due. Select your auto loan from Account Summary, and then Manage Alerts. You can be notified from 1 to 4 weeks before your payment is due.

How do I change my payment due date?

Before you apply for a due date change, you'll need to meet the following criteria:

  • You've made the first payment on your auto loan.
  • Your requested payment due date should not be more than 15 days from your existing payment due date. 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.)
  • Your account is current or no more than 10 days past due.
  • Your loan has a fixed interest rate.

If you change your due date, your loan maturity date will be adjusted. Your monthly payment amount will remain the same.

To request a due date change:

Online
Sign on, select your auto loan from Account Summary, and then select Due Date Change Request from Account Management. Review the criteria and continue, if you are eligible. Select your desired new payment date and submit.

How are payments applied to my loan?

If you are making your monthly payment that is currently due, or if your monthly payment is past due, it will be applied in the following order:

  1. Accrued interest
  2. Principal
  3. Fees and other charges (if applicable)
    For example, late fees
  4. Additional principal payment
    The additional amount will pay down your principal balance and will be applied to your next payment due, unless you tell us you're making a principal-only payment. Find out how to make a principal-only payment. If your account is already paid ahead three months, the additional amount will be applied to the principal only.

If you already paid your current month's payment in full with no amount past due, and you are paying an additional amount, it will be applied in the following order:

  1. Fees and other charges (if applicable)
    For example, late fees
  2. Accrued interest
  3. Principal
    The additional amount will pay down your principal balance and your next payment due, unless you make a principal-only payment. If your account is paid ahead three months, additional funds will be applied to unpaid fees, if applicable, then to the principal only.

Refer to your monthly statement to see how your payment was applied to interest, principal, fees, and other charges.

View payment examples (PDF) for more information.

How do I make a principal-only payment?

We will apply your payment to the principal balance after any past due amounts are paid. There are three ways to make a principal-only payment:

  • Mail
    Enter the amount that you want applied to principal only on the payment coupon from the bottom of your statement, and on your check or money order. Mail to:
    Wells Fargo Auto
    PO Box 17900
    Denver, CO 80217-0900
  • Automatic payments
    If you sign up for automatic payments, you can include an additional principal-only payment as part of your monthly deduction.
  • Wells Fargo branch
    You can make payments at any Wells Fargo banking location, and a Wells Fargo bank account is not required. Please specify that you are making a principal-only payment.

What happens if I miss a payment or make a late payment?

There may be a fee for missing a payment or making a late payment. You can find this information in your loan agreement. Since there is a daily interest charge on loans, more interest accrues when there are more days between payments. As a result, you may pay more interest over the life of the loan.

Example
If the daily interest charge is $2.50, and it has been 30 days since your last payment was made, the interest due will be $75.00 ($2.50 x 30 days).

Let's use the same daily interest charge, but now say it has been 40 days since your last payment was made, the interest due will be $100.00 ($2.50 x 40 days).

Find out how to calculate the daily interest charge.

If you're having difficulty making payments on your loan, we may have options available for you. We have information on help with payments or call us at 1-800-289-8004.

Help with payment challenges

How do I defer a payment?

A payment deferment moves a payment or payments to the end of the loan and extends the loan maturity date.

Example
If your payment due date is scheduled for March 15, 2021, and you were approved for a one-month deferment, your next payment date would be April 15, 2021. If your maturity date is January 15, 2023, and you are granted a one-month deferment, your maturity date will be February 15, 2023.

Call us for more information and to see if you are eligible for a deferment.

I can't afford to pay my entire loan payment right now. What should I do?

The more we can understand about your situation, the better we'll be able to suggest relevant options. Please call us so that we can assist you.

Is there a grace period before I am charged a late fee?

Grace periods vary from state to state so please review your loan contract for information about a grace period and late fees. If you are unable to find your loan contract, please call us at 1-800-289-8004, for more information or to request a copy.

Does a late payment affect my credit?

If your payment is 30 or more days late, it may show up on your credit report as a late payment. The degree to which a late payment affects your credit score can depend on things like how many days past due the payment is, how recently you've been past due, and how frequently you’ve made late payments.

Review your credit report regularly to help you know where you stand. Request a free copy of your credit report from annualcreditreport.com or from each of the three nationwide consumer reporting agencies: Equifax, Experian, and TransUnion.

I want to pay online. Why can't I make a payment?

The status of your account may impact your ability to pay online. For example, if your account is past due, you can make a same-day payment but may not be able to schedule a future payment. Also, if you have more than two payments with insufficient funds in the last 12 months, you won't be able to make a payment online. Call us for more information or if you need assistance making a payment.

What happens if I make a payment that does not clear?

If a payment is returned unpaid, we may attempt to present the payment to your financial institution one more time. Your financial institution may charge a fee each time the payment is returned. If the payment doesn't clear, you’ll need to resubmit the payment once you have sufficient funds in your bank account.

I can't afford my auto loan payments. Can I turn in my vehicle?

If you are struggling to make your payments, call us so we can discuss options that might work for you.

Can I get payment assistance through the Servicemembers Civil Relief Act? (SCRA)

SCRA may allow us to adjust the interest rate on your auto loan to 6%, which may lower the payment. For more information, learn more about the Servicemembers Civil Relief Act or call us at 1-877-254-9687, Monday – Friday, 7 am - 8 pm Central Time. For general assistance outside of SCRA hours, call us at 1-800-289-8004.

Loan payoff

Where can I find my payoff amount for my auto loan?

Online

Sign on, select your auto loan from Account Summary, and then Get a Payoff Quote.

Account Statement

View your payoff amount and daily interest on your monthly account statement.

Phone

Call us at 1-800-289-8004 to obtain an automated payoff quote or to speak to a representative.

Interest accrues daily, so be sure to include the estimated number of days it will take for us to receive the payment when you are obtaining the payoff amount.

How do I pay off my auto loan?

When preparing to pay off your loan

  • Consider paying with certified funds, such as a cashier’s check or money order, which can help you receive your certificate of title faster.
  • Make sure Wells Fargo Auto and your local DMV have your current address on file, so your certificate of title or lien release is sent to the right address.

Know your payoff options

  • If your loan balance is less than $5,000, you can pay online, by phone at 1-800-289-8004, by mail, wire transfer, Western Union, or MoneyGram.
  • If your loan balance is $5,000 or more, you can pay by mail or wire transfer. Western Union and MoneyGram may also be an option but transaction limits vary and third-party fees may apply. Please contact them for more information.

Pay off loan by mail

  1. Make your check or money order payable to Wells Fargo Auto.
  2. Write "Payoff" on the memo line of the check or money order, and include your 10-digit account number or 17-digit vehicle identification number (VIN).
  3. Mail your payoff to:

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

    Mail an overnight payoff to:

    Lockbox Services 17900
    Wells Fargo Auto
    MAC C7301-L25
    1740 Broadway St – LL2
    Denver, CO 80274

Pay off the loan by wire transfer

Use the following information for a wire transfer, and include your 10-digit account number or processing may be delayed.

Bank Name: Wells Fargo Bank
Bank ABA Routing # – Domestic: 121000248
Bank ABA Routing # – International: WFBIUS6S
Beneficiary Account Name: Wells Fargo Auto
Beneficiary Account #: 01541881620717
Physical Address: MAC S3983-01J, 420 Montgomery St., San Francisco, CA 94104
Originator to Beneficiary Information: Account holder’s 10-digit account number and the account holder’s name as it is listed on the account

If the certificate of title should be sent to a different individual or business, make sure you provide instructions on where the title or lien release should be sent

What happens if I paid more money than the payoff amount?

Any additional amount that you paid will be returned to you by check. It typically takes 2 – 3 weeks for processing and mail delivery.

Title and registration

When will I receive my title after I pay off my loan?

Title release timeframes vary by state. The title will be sent by mail or released electronically, depending on the state in which your vehicle is titled. Some states may charge a fee to print your title. In states where the customer holds the title, a lien release will be sent to an individual or business that is authorized to receive it.

Paper title held by Wells Fargo Auto
We'll start the title release process in approximately 7 – 10 calendar days after the payoff posts to your account, to allow enough processing time for your payment to clear through your financial institution, or as otherwise required by state law. Then add 7 – 10 days for mail delivery time. Paying off your loan by certified funds (such as a money order, cashier's check, or wire transfer) will expedite the process and begin your title release within 3 days.

Electronic title held by your state
We will electronically cancel our lien with your state. Once the lien is released, your state may print and mail your title to you, which may take 30 days or longer. Please ensure your state has your current address on file. If you have a Florida or Ohio title, you must request a paper title from your state.

For title related questions or if it has been over 30 days and you have not received your title, please contact your DMV/titling agency or call us.

What is a lien release?

A lien release is a document sent by Wells Fargo Auto after the vehicle has been paid off. The lien release states that Wells Fargo Auto is releasing rights to the vehicle.

In states where the customer holds the title, a lien release will be mailed out after the loan is paid off. Each state processes titles differently, and you should contact your local DMV to learn more about the title process in your state.

To remove Wells Fargo Auto from the title, take the title and lien release to your local DMV or titling agency. For additional information, contact your local DMV or titling agency or call us for any questions.

What is an electronic title?

An electronic title, also called an Electronic Lien and Title (ELT), is a title that exists only in electronic form in the DMV database. To find out if you have an electronic title, contact your local DMV/titling agency or call us.

When you pay off your loan, we will notify the DMV to release the lien, and the DMV will then update their database.

Your state may mail your title to you or they may require you to request the title in person or online. It may take 30 days or longer for your DMV to send you your title, and they may charge a processing fee. If you have a Florida or Ohio title, you must request a paper title from your state.

Each state processes titles differently, and you should contact your local DMV to learn more about the title process in your state.

I'm selling my vehicle to another person. How do I get the title?

We will release the lien or title once the loan is paid off. When completing the loan payoff, include instructions on where the title or lien release should be sent. Find out how to pay off your loan

If your vehicle has a paper title, the title or lien release should be received in approximately 10 – 20 days.

If your vehicle has an electronic title, please contact your local DMV or titling agency for the status of your title. It may take 30 days or longer for your DMV to send you your title, and they may charge a processing fee.

Call us or contact your DMV to find out what kind of title you have. Find out when you will receive the title after you pay off your loan.

Note: Wells Fargo branches cannot issue titles or lien releases. Titles and/or lien releases will be sent to you after the loan is paid off.

I recently changed my name and need to update my title and registration. What should I do?

Please send a signed request to let us know you would like your name changed on your account and/or title. Include a copy of supporting documentation, such as a marriage certificate, divorce decree, petition for name change, certificate of domestic partnership, or court order.

Updating your name with Wells Fargo Auto does not update your name on the title or registration with the DMV. You will need to contact your local DMV to verify if the state requires you to update the title and registration with your new name. If the DMV requires the original paper title in order to update the title and registration, we will require the request for title to be on DMV letterhead.

DMV requests can be sent to us by mail or fax:

Mail

Wells Fargo Auto
Attn: Title Maintenance Team
MAC S3983-01C
2501 S. Price Road, 1st Floor
Chandler, AZ 85286-7896

Fax

Title Maintenance Team
1-844-432-1446

Please note that if the title is converting from an electronic title to a paper title, it may take 30 days or longer for your DMV to process the change. If you have additional questions, please call us at 1-800-289-8004.

I moved out of state and need to register my vehicle. What should I do?

Sign on to your account and update your contact information or call us. Please note this doesn't update your address with the DMV. If the DMV doesn’t have your current address, it could cause delays with your registration renewal or prevent you from receiving your title upon loan payoff.

Contact your local DMV to verify the state’s title and registration requirements. If the DMV requires the original paper title in order to update the title and registration, please have the DMV request sent to us by mail or fax. We require the request for title to be on DMV letterhead.

Mail

Wells Fargo Auto
Attn: Out of State Transfers
MAC S3983-01C
2501 S. Price Road, 1st Floor
Chandler, AZ 85286

Fax

Out of State Transfers
1-844-432-1446

Please note that if the title is converting from an electronic title to a paper title, it may take 30 days or longer for your DMV to process the change. If you have additional questions, please call us.

Learn more about electronic titles.

Account servicing

How do I enroll in electronic statements?

Sign on and select your auto loan from Account Summary. Select Enroll in eStatements and change your preference from U.S. Mail to eStatements. You can view, download, and print up to 12 months of statements.

I'm trading in my vehicle. Is there anything I need to do?

The dealership will contact us to pay off the loan on your behalf. The dealership will assist you in purchasing a new vehicle and creating a new, separate loan agreement for that vehicle.

How do I request authorization to take my vehicle out of the country?

Before you drive or ship your financed vehicle out of the country, you need a signed authorization from us. Authorization is for temporary travel only, not to exceed a period of 60 days for non-military travel. We do not approve permanent relocation for non-military purposes. Your account must be current and in good standing to qualify for authorization.

To request an authorization, please send us a written request with the travel dates and the destination country, along with a copy of the vehicle registration. Also, please provide the additional documentation for your specific request type:

Driving to other countries

Proof of valid insurance that:

  • Is effective during travel dates
  • Shows the vehicle identification number (VIN) of the covered vehicle
  • Shows Wells Fargo Auto as the loss payee
  • Covers 80% of the current account balance or actual cash value

Shipping within the United States or to other countries

  • Proof of valid insurance covering the vehicle during shipping is required. This may be listed on the insurance policy as "shipping" or "port-to-port" coverage
  • Military customers: copy of applicable military orders. (Note: Military orders showing military coverage while the vehicle is in transit and listed as "Privately Owned Vehicle" (POV) or "Authorization for Shipping" may be substituted for proof of insurance.)

Mail

Wells Fargo Auto
Attn: COS Authorizations
MAC F0012-01R
6200 Park Ave., First Floor
Des Moines, IA 50321-1270

Fax

1-844-497-8670

Please allow three to five business days for processing from the date that we receive the required documentation.

Insurance information

Do I need insurance on my vehicle?

As stated in your loan contract, you are required to maintain insurance on your vehicle throughout the duration of the loan. Your insurance policy must name Wells Fargo Auto as the loss payee.

My car was totaled and my insurance did not cover the full loan amount. What should I do?

You are responsible for making your regular monthly payments until the loan is paid off. If you had Guaranteed Asset Protection (GAP) insurance on your loan, some or all of the remaining balance may be covered. If there is a remaining balance on the loan after the GAP payout is determined, you are responsible for making regular monthly payments until the loan is paid off. You can also make a lump sum payment, if you prefer.

Aftermarket products - general

What are aftermarket products?

Aftermarket products are optional products, services, or insurance that may be purchased when you buy your vehicle. They may cover unforeseen vehicle repair needs or assist with loan payments.

Common examples include:

  • Guaranteed Asset Protection (GAP) pays all or a portion of the loan balance after the payment of a total loss insurance claim.
  • Service contracts (also referred to as extended warranties) provide coverage in the event that a major mechanical component of the vehicle, such as engine, transmission, heating/cooling system, seals, gaskets, and fuel system, need repair. The coverage typically lasts for a specific period of time or vehicle mileage.
  • Anti-theft protection includes devices or services, such as tracking, that make the vehicle more difficult to steal or easier to recover if it is stolen.
  • Maintenance packages are prepaid plans that typically cover scheduled maintenance, such as oil changes, on the vehicle.
  • Credit life insurance pays off all or some of your loan if you pass away.
  • Credit disability insurance assists with making your loan payments if you become unable to do so due to disability.

I have questions about an aftermarket product I purchased. Who should I contact?

Contact the dealership or the coverage provider; their contact information is listed on the contract. To request a copy of the contract, contact the dealership or call us.

How do I file a claim or use my aftermarket product?

Contact the coverage provider for information on how to file a claim or how to use the product; their contact information is listed on the contract. Your coverage provider will let you know if they will reimburse you for expenses or if they will pay the expenses at the time a covered service is performed. They will also explain other conditions, such as requiring that the maintenance be performed at the dealership where you purchased the vehicle.

I bought an aftermarket product and can't remember what it covers. Where can I find this information?

The contract for the aftermarket product will provide the details of the coverage, including items such as the cost, what is covered and excluded, and how long the coverage lasts (a specific length of time and/or mileage limit). If you have questions about the coverage, contact the dealership or the coverage provider; their contact information is listed on the contract. To request a copy of the contract, contact the dealership or call us.

Does refinancing my loan affect the aftermarket product I purchased?

Refinancing your loan may affect aftermarket products, but it depends on the product you purchased. Review the terms in the contract to understand if refinancing your vehicle will affect coverage. While most products are generally not impacted, Guaranteed Asset Protection (GAP) coverage typically ends when the loan is refinanced or paid off.

Should I buy (or keep) an aftermarket product?

This is a personal decision for you to make based on your needs. When deciding to buy or keep an aftermarket product, consider the cost, what is covered and excluded, how long the coverage lasts, and how you plan to use the vehicle. The purchase of aftermarket products is optional and is not required to receive approval for your loan.

I don't remember buying an aftermarket product. What should I do?

Ask the dealer for a signed copy of the contract. All purchased products require a signature. If the dealer is unable to provide a signed copy, you may be able to request a refund for the price of the product.

Can I extend my warranty or coverage?

Contact the coverage provider to find out if an extension is possible; their contact information is listed on the contract. To request a copy of the contract, contact the dealership or call us.

Aftermarket products - cancellation and refunds

Can I cancel an aftermarket product?

The contract will state if the product can be canceled. Generally speaking, products or services that have already been provided cannot be canceled. Contact the dealership or coverage provider if you have questions.

How do I cancel an aftermarket product?

Cancellation requests are generally accepted at the dealership where the product was purchased or by contacting the coverage provider; their contact information is listed on the contract. In some cases, you may be required to complete a cancellation form or submit a written request.

Will I get a refund if I cancel the aftermarket product?

The contract may say whether you are entitled to a refund. If it does not, contact your coverage provider, as they will determine if you are entitled to a refund and what amount, if any, is owed. The coverage provider’s information is listed on the contract. To request a copy of the contract, contact the dealership or call us.

How much will my refund be?

For a refund quote, contact the dealership or your coverage provider; their contact information is listed on the contract. Factors such as the purchase and cancellation date, vehicle mileage at the time of purchase and cancellation, purchase price, and the state you live in can affect how the refund is calculated. To request a copy of the contract, contact the dealership or call us.

How long will it take to get my refund?

Timing varies among providers. Contact the coverage provider for more details. Their contact information is listed on the contract. To request a copy of the contract, contact the dealership or call us.

Does Wells Fargo Auto issue the refund?

The refund process varies based on the product. The refund may be issued by us, the dealership, or the coverage provider. To find out who will issue your refund, call us.

Why didn’t my auto loan payment decrease after a refund was applied to my account?

The monthly loan payment is calculated from the terms in the original loan agreement. Your loan agreement is not rewritten because of the refund, so your payment does not change. The refund is applied to your current principal balance which means you have less money to pay back. This may reduce the amount of interest you pay, and it may help you pay your loan off more quickly than the original term.

Guaranteed Asset Protection (GAP) coverage

What is Guaranteed Asset Protection (GAP)?

GAP is an optional product that covers the "gap" between the amount owed on the loan and the vehicle’s value in the event of a total loss. Some exclusions apply, so it is important to review the coverage details to understand the limitations to GAP coverage.

Example
Your vehicle was in an accident and deemed a total loss. Your insurance company determines that the fair market value of the vehicle is $10,000, so that is what they paid out. The remaining loan balance on the vehicle is $13,000. After insurance, you still owe $3,000. If you have GAP, the remaining $3,000 may be covered.

Is GAP the same as auto insurance?

No, GAP coverage only helps in the event of a total loss and is considered a supplement to your primary insurance. Car insurance covers the vehicle, while GAP covers the loan. Find out more about Guaranteed Asset Protection (GAP)

Why doesn't GAP carry over if I refinance my loan?

GAP applies to a specific loan and typically is non-transferable. If you refinance a loan that has GAP, you will likely lose the coverage. If you want GAP coverage on your new loan, you will need to purchase a new GAP policy.

I have GAP and my vehicle was deemed a total loss. What should I do?

We will initiate the GAP claim once the insurance settlement has posted to your account. We will send you a letter informing you the claim has been started and if we need your help gathering documents to complete the claim. If you have any questions during this process, call us.

Why do I still have a loan balance if I have GAP?

There are limitations and exclusions for GAP, which you can find in the contract. For example, GAP may not cover late payments, late fees, or payment deferments. If you have questions about the coverage, contact the dealership or the coverage provider; their contact information is listed on the contract. To request a copy of the contract, contact the dealership or call us.

If your auto loan was funded through a Wells Fargo branch and you have additional questions, please call us at 1-800-559-3557, Monday – Friday, 8 am – 6 pm local time.

How do I make payments on my auto loan account?

If your auto loan was funded through a Wells Fargo branch and you have additional questions, please 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

Set up automatic payments

You decide which savings or checking account you would like the money to come from each month. There is no charge for enrollment, and you can easily change or cancel the automatic payments online.

To set up automatic payments, sign on, select your auto loan and then select the Automatic Payments link. You can also download the automatic payment form (PDF), complete the form, and return by mail.

Pay by phone

To make a payment by phone, call us at 1-800-559-3557. Automated payment service is available 24 hours a day, 7 days a week.

Pay by mail

Include the payment coupon from your statement and write the account number on the check or money order. Do not send cash. Send checks or money orders to the following address:

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

Pay in person

Visit any Wells Fargo branch to make an auto loan payment in person.

Other ways to pay

  • 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.
  • 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. 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:

  • Online - Sign on to your account to make a payment, and select the principal payment option.
  • Automatic payments - Sign on and select your auto loan. Select the Automatic Payments link, 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 have incurred any late fees, the principal payment will be applied after any past due amounts and charges.

Can I make extra payments?

Yes. You can make extra payments at any time with no penalty. If you would like to apply a portion of your payment or an additional amount to principal only, select the principal payment option within Wells Fargo Online®.

You can also mail your payment along with instructions that you would like the additional amount applied to principal only to:

Wells Fargo Auto
S3931-047
2800 S. Price Rd.
Chandler, AZ 85286

If you don't designate a payment as principal only, each payment in full equal to your regular payment amount will advance your due date by one month, up to three months. Once your due date is advanced three months, all additional payments will be applied towards principal.

Can I change my payment due date?

Yes, after you make your first payment, you may request a one-time due date change by sending a secure email through Wells Fargo Online® or calling us at 1-800-559-3557, Monday – Friday, 8 am - 6 pm, local time.

Can I take my car out of the country if I have a loan on it?

If you want to take your financed vehicle out of the country, you will need a signed authorization from us, which must be kept in the vehicle at all times.

To request the information needed for this authorization, please call us at 1-800-559-3557, Monday – Friday, 8 am - 6 pm, local time. Please allow 3-5 business days for processing from the date that we receive the required documentation.

How do I file for a claim if I was involved in an auto accident and I have Guaranteed Asset Protection (GAP) on my vehicle?

Call our total loss department at 1-866-829-3395, Monday – Friday, 9 am - 6 pm, Central Time.

Can I trade in my car before I have paid off my loan?

Yes, but call us at 1-800-559-3557, Monday – Friday, 8 am - 6 pm, local time for specific details. We will release title or its equivalent when the loan is paid in full.

How do I pay off my auto loan?

To make a same-day pay-off, sign on to your account. If you are not making an immediate online payment, please call us at 1-800-559-3557, Monday – Friday, 8 am - 6 pm, local time, so we can provide you with an accurate payoff quote.

Payoffs can be mailed to the address below and please include your auto loan account number:

Wells Fargo Auto
Attn: S3931-047/Payoffs
2800 S. Price Rd.
Bldg. D, Floor 4
Chandler, AZ 85286-7804

After I have paid off my loan, when will I get my title?

Please call us at 1-800-559-3557, Monday – Friday, 8 am - 6 pm, local time for specific details. We will release title or its equivalent when the loan is paid in full.

 

What is principal balance?

Principal balance is the unpaid balance on a loan, which is also called the "amount financed."

What is currently due?

Currently due is the payment that is due in the current billing cycle.

What is past due?

Past due is when the payment is late and has not been made as of its due date. In certain cases, for example when a loan is charged off or your vehicle has been repossessed, payments may be applied in a different order. Please call us if you have questions.