How to Pay Your Truist Auto Loan
Where and how to send your Truist auto loan payment
You can pay your Truist auto loan through several channels: online through your Truist account, by phone at 1-800-872-2657, by mail to the address on your statement, or in person at a Truist branch. The fastest and most reliable method is online through Truist's website or mobile app, where the payment posts immediately and you get a confirmation number. If you mail a check, allow 7 to 10 business days for it to arrive and process—mail sent after the due date may be marked late even if it was mailed on time.
Automatic payments (also called autopay) pull money from your bank account on a date you choose each month. You can set this up online or by phone. Autopay removes the risk of forgetting a payment and is the most common way borrowers avoid late fees. You can change or cancel autopay anytime through your account.
Phone payments require your account number and a debit card or bank account. The system processes the payment immediately, but you will hear a confirmation number before the call ends—write it down. Do not rely on email confirmations for phone payments; the confirmation number is your proof.
Key Takeaways
- Online and autopay are the fastest methods and give you an immediate confirmation that Truist received your payment.
- Mail payments take 7 to 10 business days to process, so send them well before your due date to avoid a late fee.
- Your due date is printed on your statement; payments received after that date incur a late fee, even if you mailed it on time.
- Autopay removes the burden of remembering to pay each month and is the most reliable way to stay current.
What happens if your payment is late
A payment is late if it arrives after the due date shown on your statement. Truist charges a late fee (the amount varies by your loan agreement, typically $15 to $25) and reports the late payment to credit bureaus if it is 30 days or more past due. A single late payment can lower your credit score by 100 points or more, depending on your current score.
If you miss a payment, contact Truist immediately at 1-800-872-2657. Explain your situation and ask whether they can waive the late fee as a one-time courtesy. Some borrowers are successful, especially if they have a history of on-time payments. Do not wait—the sooner you call, the sooner you can catch up.
If you fall 60 days behind, Truist may begin collection calls and letters. At 90 days past due, your loan may be declared in default, which means Truist can repossess your vehicle. Repossession damages your credit for seven years and leaves you responsible for the difference between what the car sells for at auction and what you still owe (called a deficiency judgment).
How to set up or change your autopay
Log into your Truist online account or mobile app, navigate to your auto loan, and select "Set Up Autopay" or "Manage Autopay." You will choose the date each month when the payment should be withdrawn (usually between the 1st and the 28th), and confirm your bank account or debit card. Truist will send a confirmation email with your autopay details.
If you need to change your autopay date or amount, go back into your account and update it. Changes take effect on your next scheduled payment. If you want to pause autopay for one month, you can do that through your account without canceling the entire setup—just remember to make a manual payment that month or you will be late.
If you cancel autopay, you are responsible for making manual payments on time every month. Many borrowers who cancel autopay later forget a payment, so consider keeping it active even if you only use it as a backup.
Understanding your loan balance and payoff date
Your Truist statement shows your current balance, the amount of your next payment that goes toward principal (the amount you borrowed) versus interest (what Truist charges for lending), and your payoff date. Early in your loan, most of your payment goes to interest; later, more goes to principal. This is normal and is called amortization.
If you want to pay off your loan early, you can make extra payments toward principal without penalty. Some borrowers add $50 or $100 to their regular payment each month; others make a lump-sum payment when they receive a bonus or tax refund. Every dollar of extra principal shortens your loan and saves you interest. Ask Truist to confirm that extra payments are applied to principal, not held as a credit toward future payments.
You can see your payoff date and remaining balance anytime by logging into your account or calling 1-800-872-2657. Knowing how much longer you have to pay helps you plan for when you will own the car free and clear.
What to do if you cannot make a payment
If you know you will miss a payment, call Truist before the due date. Explain your situation—job loss, medical emergency, unexpected expense—and ask about your options. Truist may offer a forbearance (a temporary pause or reduction in payments), a loan modification (a change to your loan terms), or a deferment (moving a missed payment to the end of your loan). These are not forgiveness; you still owe the money, but the timing changes.
Forbearance typically lasts 3 to 6 months. During that time, you pay a reduced amount or nothing at all, but interest continues to accrue. When forbearance ends, your regular payment resumes, and you may owe a balloon payment to catch up. A loan modification spreads the missed payment across the remaining term of your loan, raising your monthly payment slightly but avoiding a lump sum.
Do not ignore a missed payment and hope it goes away. The sooner you contact Truist, the more options you have. Waiting until you are 60 or 90 days behind leaves you with fewer choices and closer to repossession.
Paying off your loan early or refinancing
If you want to pay off your Truist auto loan in full before the end of the term, call 1-800-872-2657 and ask for a payoff quote. This is the exact amount you owe on a specific date, including any interest accrued through that date. Payoff quotes are usually good for 10 to 15 days, so act quickly if you plan to use it.
Some borrowers refinance their Truist auto loan with another lender if interest rates drop or their credit score improves. Refinancing means taking out a new loan with a different lender to pay off the Truist loan. You then owe the new lender instead. Refinancing can lower your monthly payment or shorten your loan term, but it involves a new application and credit check. Compare offers from at least three lenders before deciding.
If you refinance, make sure the new lender pays off Truist in full. Do not make a payment to Truist after you have refinanced, or you may overpay. Confirm with the new lender that Truist has been paid in full before you consider the loan closed.
Frequently Asked Questions
Can I pay my Truist auto loan with a credit card?
Truist does not accept credit card payments directly. However, some third-party payment processors allow you to pay with a credit card and then send the money to Truist, though they charge a fee (usually 2 to 3 percent). It is cheaper to pay from your bank account or debit card directly through Truist.
What if I pay extra one month—does it go toward next month's payment?
No. Extra payments go toward your principal balance, not toward future payments. This shortens your loan and saves interest. If you want to skip a month, you must contact Truist and ask about forbearance or deferment; paying extra does not create a credit you can use later.
How do I know if my payment was received?
Online and autopay payments show a confirmation number immediately. Mail and phone payments should be confirmed before you hang up or send the envelope. Log into your account within 1 to 2 business days to verify the payment posted. If it does not appear, call Truist with your confirmation number.
Can Truist repossess my car if I am one day late?
Legally, yes—your loan agreement allows repossession as soon as you are in default. In practice, Truist usually waits 60 to 90 days past due before repossessing. However, do not test this. One late payment damages your credit and costs you a late fee. Contact Truist immediately if you cannot pay on time.
What is the difference between a late fee and interest?
Interest is the cost of borrowing money and is calculated daily on your balance. A late fee is a penalty Truist charges when you miss a due date. Both are separate charges. Interest continues whether you are late or on time; the late fee only applies when you miss the deadline.