What Chrysler Capital is and how their payment system works
Chrysler Capital is the captive finance subsidiary of Stellantis (formerly Fiat Chrysler Automobiles). They provide auto loans and lease financing for Chrysler, Dodge, Jeep, and Ram vehicles sold through dealerships. When you finance a vehicle through a Chrysler or Dodge dealership, the loan is often originated by Chrysler Capital, though it may be sold to another servicer afterward.
Chrysler Capital handles the loan servicing — meaning they collect your monthly payments, manage your account, and handle questions about your loan terms. Your payment goes to whatever servicer currently owns your loan, which you can confirm by checking your loan documents or calling the number on your billing statement. The payment amount, due date, and interest rate were set when you signed the loan agreement at the dealership.
Unlike a credit card or line of credit, an auto loan from Chrysler Capital is secured debt. The vehicle itself serves as collateral, which means the lender can repossess it if you fall behind on payments. This is why the payment terms are fixed and non-negotiable after you sign — the lender's risk is backed by the car's value.
Key Takeaways
- Chrysler Capital is the financing arm of Stellantis and originates loans for Chrysler, Dodge, Jeep, and Ram vehicles, though your loan may be sold to another servicer after origination.
- Your monthly payment amount, due date, and interest rate are set in your loan agreement and do not change unless you refinance or modify the loan through a formal process.
- You can make payments online through the Chrysler Capital website, by phone, by mail, or through automatic bank withdrawal, depending on which servicer currently holds your loan.
- If you miss a payment, late fees and interest charges accrue when ready, and your credit report is affected after 30 days of nonpayment.
- Refinancing through a different lender is an option if your credit has improved or interest rates have dropped since you took out the original loan.
Where and how to make a Chrysler Capital payment
The method you use to pay depends on which company currently services your loan. If Chrysler Capital still owns and services your loan, you can pay through their website at chryslercapital.com, by phone at the number on your billing statement, or by mailing a check to the address listed on your statement.
Many borrowers set up automatic payments (also called autopay) through their bank account. This removes the risk of missing a due date and often qualifies you for a small interest rate reduction — typically 0.25% off — if the lender offers an autopay discount. You can usually set this up online or by calling customer service.
If your loan was sold to another servicer after origination, you will receive a letter telling you where to send payments going forward. Common servicers include Ally Financial, Capital One, and others. Always pay the current servicer listed on your most recent statement, not Chrysler Capital, even if that is where you originally financed the vehicle.
Understanding your payment due date and grace periods
Your payment due date is printed in your loan agreement and on every billing statement. Payments are typically due on the same day each month. Some lenders offer a grace period — usually 10 to 15 days after the due date — during which you can pay without a late fee, though interest continues to accrue.
Do not rely on a grace period as part of your plan. A payment made after the due date is still reported as late to the credit bureaus if it is more than 30 days past due, and this damages your credit score. Late fees are charged when ready when a payment misses the due date, regardless of whether you are still within a grace period.
If you know you will miss a due date, contact your servicer before the date passes. Some lenders can defer a payment, extend your loan term by one month, or work out a temporary arrangement. Asking in advance is far better than paying late and dealing with the consequences.
What happens if you miss a payment
Missing a single payment triggers a chain of events. A late fee (typically $25 to $50, depending on your loan agreement) is charged when ready. Interest continues to accrue on the unpaid balance. After 30 days of nonpayment, the late payment is reported to the three major credit bureaus — Equifax, Experian, and TransUnion — and appears on your credit report.
After 60 days, your servicer typically sends a formal notice demanding payment. After 90 days, they may begin repossession proceedings. The exact timeline varies by state and by lender, but the damage to your credit begins at 30 days and worsens the longer the account remains unpaid.
If you are struggling to make a payment, contact your servicer when ready. Options may include a loan modification (changing the terms), a forbearance agreement (temporarily pausing or reducing payments), or a deferment (moving missed payments to the end of the loan). These options exist, but only if you ask before you fall behind.
Refinancing a Chrysler Capital loan
Refinancing means taking out a new loan from a different lender to pay off your existing Chrysler Capital loan. You would do this if your credit score has improved since you took out the original loan, if interest rates have dropped, or if you want to change your loan term (for example, to lower your monthly payment by extending the loan).
To refinance, you explore with a bank, credit union, or online lender. They review your credit, verify the vehicle's value, and offer you a new loan at a new interest rate. If you accept, they pay off your Chrysler Capital loan in full, and you make payments to the new lender instead. The new lender holds the title until the loan is paid off.
Refinancing makes sense if the new interest rate is at least 1% lower than your current rate and you plan to keep the vehicle long enough to recoup any fees involved. Some lenders charge origination fees or prepayment penalties, so compare the total cost, not just the interest rate. Credit unions often offer lower rates than banks or online lenders, so check with your employer's credit union or a local one in your area.
How interest and principal are calculated on your loan
Your monthly payment is divided between principal (the amount borrowed) and interest (the cost of borrowing). Early in the loan, most of your payment goes toward interest. As you pay down the principal, more of each payment goes toward principal and less toward interest.
Interest is calculated using your loan's annual percentage rate (APR), which is listed in your loan agreement. The APR includes the interest rate plus any fees, expressed as a yearly rate. Your monthly interest charge is calculated by taking your current loan balance, multiplying it by your APR, and dividing by 12.
You can see the breakdown of principal and interest on your billing statement. Some statements show a payment schedule or amortization table that shows exactly how much principal and interest you will pay each month for the life of the loan. If you pay extra toward principal (called a prepayment), you reduce the total interest you will pay and shorten the loan term.
Loan payoff and title transfer
When you make your final payment, your loan is satisfied. The lender then releases the lien on the vehicle's title. In most states, the title is held by the lender until the loan is paid off. Once the lien is released, you receive the title in the mail, and the vehicle is fully yours.
The time between your final payment and receiving the title varies. Some lenders release the title within days; others take several weeks. Check your loan documents or call your servicer to find out their process. You will need the title to sell the vehicle or transfer ownership to someone else.
If you want to know exactly how much you owe at any point, call your servicer and ask for a payoff quote. This quote is valid for a specific number of days (usually 10 to 30) and includes any accrued interest and fees. If you are planning to refinance or sell the vehicle, get a payoff quote first so you know the exact amount needed to clear the loan.
Frequently Asked Questions
Can I change my payment due date?
Some servicers allow you to request a different due date, though this is not may provide. Contact your servicer and ask if they offer this option. If they do, the change usually takes effect on your next billing cycle. If they do not, refinancing with a different lender is the only way to change your due date.
What if I want to pay off my loan early?
You can pay off your loan at any time without penalty (Chrysler Capital loans do not have prepayment penalties). Any extra payment you make goes directly toward principal and reduces the total interest you will pay. Call your servicer for a payoff quote before sending a large payment to make sure the amount is correct.
How do I know if my loan was sold to another servicer?
You will receive a letter in the mail notifying you of the sale and telling you where to send future payments. If you are unsure, check your most recent billing statement — it shows the current servicer's name and payment address. You can also call the number on your statement and ask.
What is the difference between a loan modification and refinancing?
A loan modification changes the terms of your existing loan with your current lender — for example, extending the term to lower your payment or reducing your interest rate. Refinancing replaces your loan entirely with a new one from a different lender. Modifications are usually faster and require less paperwork, but refinancing often offers better rates if your credit has improved.
Can I make a payment over the phone with a credit card?
Most servicers accept phone payments, but they typically require a bank account (checking or savings) rather than a credit card. Paying with a credit card usually incurs a processing fee that makes it more expensive than other methods. Check your billing statement or call your servicer to confirm what payment methods they accept.