Auto Loan Relief – COVID-19

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Many brick-and-mortar and online banks are offering financial assistance for auto loans. Typical assistance includes deferment of payments and elimination or refund of fees. Contact your bank or financial institution for more information. Ask for help if you need it! Here are some of the big banks offering auto loan payment deferral:

  • Ally Bank: Defer payments for up to 120 days with no late fees
  • Bank of America: Can request to defer payments, with payments added to the end of the loan
  • Chase: Defer payments for up to three months with no late fees
  • Fifth Third Bank: Defer payments for up to 90 days with no late fees
  • KeyBank: Defer payments for up to 90 days upon request
  • TD Bank: Allows payment deferral, but doesn’t specify length of deferment
  • Truist: Defer payments for up to 90 days