How Stellantis Car Payments Work and What to Do If You Fall Behind
What Stellantis is and where your payment goes
Stellantis is the parent company that owns Chrysler, Dodge, Jeep, Ram, and several other car brands. If you financed your car through a Stellantis dealership, your payment may be serviced by Santander Consumer USA, TD Auto Finance, or another lender — Stellantis itself does not collect payments. The dealership or lender you signed papers with is who you pay, not Stellantis directly.
Your monthly payment goes to whichever finance company holds your loan contract. That company sends a portion to cover interest, a portion to reduce what you owe (principal), and passes along any gap insurance or warranty fees you included. The rest goes to the lender's operating costs. Your car title remains with the lender until the loan is paid off, which is why they can repossess the vehicle if you stop paying.
If you are unsure who services your loan, check your payment coupon, your email receipts, or call the dealership where you bought the car. They can tell you the exact lender and provide contact information.
Key Takeaways
- Stellantis owns the car brand, but a separate finance company collects your payments — find out which one by checking your payment coupon or calling the dealership.
- Late payments damage your credit score within 30 days and can trigger repossession after 60 to 90 days of missed payments, depending on your loan contract.
- If you cannot make a payment, contact your lender immediately to ask about deferment, forbearance, or loan modification before you miss a due date.
- Repossession can happen without warning once you are significantly behind, and you will owe the difference between what the car sells for at auction and what you still owe on the loan.
- Some lenders offer hardship programs that pause or reduce payments temporarily; the terms vary by lender, so you must ask directly.
How late payments affect your credit and your car
A payment that arrives 30 days or more after the due date is reported to credit bureaus as a late payment. This stays on your credit report for seven years and lowers your credit score immediately. Even one 30-day late payment can drop your score by 100 points or more, depending on how good your score was before.
After 60 days of missed payments, your lender can begin the process of repossessing your car. After 90 days, repossession is almost certain. The lender does not have to give you a warning or go to court first — they can send a tow truck to your home, workplace, or anywhere your car is parked. Once the car is repossessed, it is sold at auction, and you still owe the difference between the sale price and your loan balance. That difference is called a deficiency, and the lender can sue you to collect it.
Late fees also accumulate. Most car loans charge $25 to $50 per late payment, and some charge a percentage of your monthly payment. These fees are added to what you owe, making it harder to catch up.
What to do if you cannot make a payment
Call your lender before your payment is due, not after. Explain your situation honestly — job loss, medical emergency, reduced hours, unexpected expense. Most lenders have hardship programs, though the terms depend on the company. Common options include payment deferment (skipping one or two payments and adding them to the end of the loan), forbearance (temporarily reducing your payment), or loan modification (changing the terms to lower the monthly amount).
Ask specifically what your lender offers and what documents they need. Some require proof of hardship — a termination letter, medical bill, or bank statement showing reduced income. Others ask only that you explain the situation. Write down the name of the person you speak with, the date, and what they said they could do for you. If they offer a plan, ask for it in writing before you agree.
Do not ignore the bill or hope the problem goes away. Lenders are more willing to work with you before you miss a payment than after. Once you are 30 days late, your options narrow and the damage to your credit is already done.
Deferment, forbearance, and loan modification explained
Deferment means your lender allows you to skip one or two payments. Those payments are added to the end of your loan, so you will pay them later. You do not pay interest on the skipped amount — you just owe the original payment. Deferment usually lasts 30 to 90 days and is offered once per loan.
Forbearance temporarily reduces your monthly payment, usually by 25 to 50 percent, for three to six months. You still owe the full amount eventually — the reduced payments are added back later, or the loan term is extended. Forbearance is useful if your hardship is temporary, like a layoff you expect to end soon.
Loan modification changes the terms of your loan permanently. Your lender might extend the loan term from 60 months to 72 months, lowering your monthly payment. Or they might reduce the interest rate. The trade-off is that you pay more interest overall because you are paying for longer. Modification is harder to get than deferment or forbearance and usually requires proof that you cannot afford the current payment.
Ask your lender which option they recommend for your situation. If they deny all three, ask whether they have other hardship programs or whether you can refinance with a different lender.
Refinancing your Stellantis loan with a different lender
If your current lender will not work with you, you can refinance — take out a new loan from a different bank or credit union to pay off the old one. The new lender pays your current lender in full, and you owe the new lender instead. This works only if you have enough equity in the car (the car is worth more than you owe) or if the new lender is willing to refinance an underwater loan (you owe more than the car is worth).
Credit unions often refinance car loans at lower rates and with more flexible terms than banks. If you belong to a credit union, contact them first. Banks, online lenders, and peer-to-peer lending platforms also refinance, but their rates vary widely based on your credit score and income. Get quotes from at least three lenders before you choose.
Refinancing takes one to two weeks. During that time, you still owe your current lender, so do not skip a payment. Once the new loan closes, the old one is paid off and you start fresh with the new lender.
What happens if your car is repossessed
Repossession is a legal process, but it happens quickly and without much notice. The lender hires a repossession company, which locates your car and tows it away. You have the right to know where the car is being held, and you can reclaim it by paying the full amount you owe plus repossession and storage fees — usually $500 to $2,000 total. You have a limited time to do this, often 10 to 30 days, depending on your state and loan contract.
If you do not reclaim the car, it is sold at auction. The auction price is almost always less than what the car is worth on the open market. You owe the difference between the sale price and your loan balance. For example, if you owe $15,000 and the car sells for $9,000, you owe a $6,000 deficiency. The lender can sue you in court to collect this amount, and if they win, they can garnish your wages or freeze your bank account.
Repossession also damages your credit score severely and stays on your credit report for seven years. It makes it much harder to borrow money in the future, and it can affect your ability to rent an apartment or get a job.
State laws that protect you during hardship
Some states have laws that limit what lenders can do during a financial hardship. For example, some states require lenders to offer a grace period before reporting a late payment, or they limit repossession fees. A few states require lenders to consider loan modification before repossessing. These laws vary significantly by state, so check your state's attorney general website or call your state's consumer protection office to learn what protections apply to you.
Federal law also requires lenders to respond to written requests for hardship options within 15 days. If you send a letter (certified mail, return receipt requested) asking about deferment, forbearance, or modification, the lender must acknowledge it and tell you what they can offer. This creates a paper trail if you later need to dispute a repossession or sue for unfair practices.
Frequently Asked Questions
Can the lender repossess my car if I am only one or two weeks late?
No. Most loan contracts require you to be at least 60 days late before repossession can begin. However, some contracts allow it after 30 days. Check your loan agreement to see the exact threshold. Even if repossession is legally allowed, most lenders wait longer because repossession is expensive and they prefer to work out a payment plan.
Will deferment hurt my credit score?
No. Deferment is not reported to credit bureaus as a late payment because you are not late — you have an agreement with your lender to skip payments. Your credit score is not affected. However, if you miss a payment without asking for deferment first, that is reported as a late payment and your score will drop.
What if I owe more on the car than it is worth?
You are underwater on the loan. Refinancing is harder but not impossible — some credit unions and online lenders refinance underwater loans, though usually at a higher interest rate. Your other option is to keep making payments until the loan balance drops below the car's value. Deferment or forbearance can buy you time while you save money or wait for the car's value to stabilize.
Can I return the car to the dealership instead of dealing with repossession?
You can offer to return it, but the dealership is not required to accept it. If they do, you still owe the deficiency — the difference between what they sell the car for and what you owe. Returning the car voluntarily does slightly less damage to your credit than repossession, but the financial outcome is similar. Always ask your lender about hardship options before you consider returning the car.
How do I find out which company services my Stellantis loan?
Check your payment coupon, your loan documents, or your email receipts. Call the dealership where you bought the car and give them your vehicle identification number (VIN) — they can tell you the lender and provide a phone number. You can also check your credit report at annualcreditreport.com; the lender's name appears there under your auto loan account.