Where and how to pay your Truist auto loan
Truist offers three main ways to pay your auto loan: online through their website or mobile app, by phone, or in person at a branch. The online portal is the fastest route and lets you schedule payments in advance. You can set up a one-time payment or recurring automatic payments directly from your checking or savings account.
To pay online, log into your Truist account at truist.com or use the Truist mobile app, find your auto loan, and select "Make a Payment." You'll enter the amount and choose your payment date. Payments made before 5 p.m. Eastern Time typically post the same business day. If you pay after that time or on a weekend, the payment posts the next business day.
Phone payments go through Truist's automated system at 1-800-872-2657. You'll need your loan number and the account you're paying from. A representative can also help if you call during business hours and need to discuss payment options or your loan balance.
Key Takeaways
- Online and mobile app payments are the fastest method and let you choose your payment date before the due date arrives.
- Automatic recurring payments prevent missed payments and can be set up through your online account in a few minutes.
- Payments made before 5 p.m. Eastern Time on a business day post the same day; weekend and after-hours payments post the next business day.
- If you're having trouble making a payment, contact Truist directly rather than skipping it, because late fees and credit damage begin when ready.
Setting up automatic payments to avoid late fees
Automatic payments remove the risk of forgetting your due date. Log into your Truist account, go to your auto loan, and look for "Set Up Autopay" or "Recurring Payments." You choose the amount (your full monthly payment or a custom amount), the day of the month it should come out, and which account to pull it from.
Truist will deduct the payment automatically on that date each month until you cancel. This is especially useful if your due date falls on a weekend or holiday—Truist will process it on the next business day. You can change or stop automatic payments anytime through your online account, though you should do this at least a few days before the scheduled payment date to avoid confusion.
If you set automatic payments but your balance changes (for example, if you make an extra payment one month), you can adjust the automatic amount or pause it temporarily. The system won't overdraft your account if there aren't enough funds, so make sure your checking account has the payment amount available on the scheduled date.
What happens if you miss a payment or pay late
A payment is considered late if it arrives after your due date. Truist typically charges a late fee once your payment is more than 10 days overdue. The fee amount depends on your loan agreement, but it's usually a percentage of your monthly payment or a flat amount. Late fees are added to your loan balance, which means you'll pay interest on them.
More importantly, a late payment is reported to credit bureaus and appears on your credit report for seven years. Even one late payment can lower your credit score by 50 to 100 points, depending on your current score. This affects your ability to borrow money in the future and can raise interest rates on other loans or credit cards.
If you're going to miss a payment, contact Truist before the due date. They may offer a short extension, a temporary payment reduction, or a loan modification. Calling ahead is always better than letting the payment go unpaid, because it shows good faith and gives you a chance to work out an arrangement before late fees and credit damage begin.
Payment posting times and how to track your balance
Truist updates your account balance within one business day of receiving a payment. If you pay online before 5 p.m. Eastern Time on a business day, the payment is usually reflected in your account by the next morning. Payments made on weekends or holidays are processed on the next business day.
You can check your current balance and payment history anytime by logging into your Truist account online or through the app. Your statement also shows your next due date, the amount due, and how much of your payment goes toward principal versus interest. If you don't see a payment post within two business days of making it, contact Truist to confirm it was received.
Keep in mind that your due date and your payment posting date are different things. Your due date is when Truist expects the payment to arrive. If you pay on the due date itself, it may not post until the next day, which could still count as on-time depending on Truist's terms. To be safe, pay at least one business day before your due date.
Paying off your loan early or making extra payments
You can pay more than your monthly payment at any time without penalty. Truist does not charge a prepayment fee, which means you can pay off the entire loan early or add extra money to your regular payment to reduce the total interest you pay.
When you make an extra payment, tell Truist how you want it applied. You can request that the extra amount go toward your next month's payment, or you can ask that it be applied directly to principal. explore extra payments to principal saves you the most interest over the life of the loan. You can specify this when you make the payment online or by calling Truist.
If you're planning to pay off the loan completely, ask Truist for a payoff quote. This is the exact amount needed to close the loan, including any interest accrued through your payoff date. The payoff amount changes daily because interest continues to accrue, so get a fresh quote close to the date you plan to pay it off.
Payment methods Truist does not accept
Truist does not accept payments by mail, check, or through third-party payment services like PayPal or Venmo. If you send a check to a Truist address, it will be returned or forwarded to a processing center, which delays posting and may result in a late fee. The only accepted methods are online, through the mobile app, by phone, or in person at a branch.
Some third-party bill pay services (like your bank's bill pay feature) may allow you to send a check to Truist on your behalf, but this adds processing time and is not recommended for your auto loan payment. Stick to Truist's direct payment methods to may support your payment posts on time.
Frequently Asked Questions
Can I pay my Truist auto loan through my bank's bill pay service?
Your bank's bill pay may allow you to send a check to Truist, but this adds several days of processing time and is not recommended for auto loans. Use Truist's online portal, app, or phone line instead to may support your payment posts on time and you avoid late fees.
What if I want to change my automatic payment date?
Log into your Truist account, find your auto loan, and select your recurring payment setup. You can change the date, the amount, or cancel it entirely. Make changes at least a few days before the scheduled payment date to avoid processing delays.
Does Truist charge a fee for paying online or by phone?
No. Truist does not charge a fee for making payments online, through the app, or by phone. All three methods are free. The only fees you'll encounter are late fees if your payment arrives after your due date.
How long does it take for a payment to show up in my account?
Payments made online before 5 p.m. Eastern Time on a business day typically post within 24 hours. Payments made after 5 p.m. or on weekends post the next business day. If your payment doesn't appear within two business days, contact Truist to confirm it was received.
Can I pay my auto loan at a Truist branch in person?
Yes. You can walk into any Truist branch and make a payment in person. Bring your loan number or account information. In-person payments post the same day if made before the branch closes, but online and phone payments are faster and more convenient.