How to Make Payments on Your DriveTime Auto Loan

If you financed your used car through DriveTime, you make monthly payments on your auto loan through them. DriveTime offers several convenient payment options to fit your needs. Read on to learn how to make quick and easy payments on your DriveTime auto financing loan

DriveTime is the nation’s largest used car dealership and finance company. They operate over 145 used car centers across the country

When you purchase a used vehicle through DriveTime, they provide financing options for qualifying customers. DriveTime finances the auto loan for the car directly.

As a DriveTime auto loan customer, you will make your monthly payments directly to DriveTime. They offer flexible payment options to fit your budget and schedule.

Payment Options from DriveTime

DriveTime offers several ways to make your monthly car payment or extra payments on your auto loan:

• Online payments through your DriveTime account
• Phone payments and automated phone system
• In-person payments at DriveTime locations
• Mail-in payments with check or money order

Below we will explore each of these DriveTime payment options in more detail.

Online Payments

The easiest way to pay your DriveTime auto loan is through your online account portal. You can sign up for an account on the DriveTime website.

With your online account, you can:

• Make one-time payments on your loan
• Set up recurring auto-pay each month
• View payment history and print receipts
• Receive payment reminders and confirmations

To make an online payment, simply log into your account, enter your payment info, and submit. Payments made online before 5 PM CT will typically process same-day.

Phone Payments and Automated System

You can also make payments on your DriveTime auto loan over the phone. Call 1-877-235-5337 to speak with a DriveTime representative about making a payment.

Some other payment options through the phone system include:

• One-time automated payment with agent assistance
• Recurring automated monthly payments
• Western Union or MoneyGram in-person cash payments

With the automated phone system, you can set up recurring payments easily without having to call each month.

In-Person Payments

If you prefer to pay in cash or speak to someone in-person, you can visit your local DriveTime dealership. They have designated payment kiosks to accept monthly payments.

DriveTime also partners with certain retailers like 7-Eleven to accept cash payments. Simply take your payment receipt from the kiosk to the retailer to make your cash payment.

Mail-In Payments

You can submit payments by check or money order via mail as well. Make checks payable to DriveTime and include your loan account number. Send your mailed payments to:

DriveTime
Attn: Payment Processing
PO Box 29018
Phoenix, AZ 85038

Note that mailed payments can take 7-10 days to process. Online and phone payments credit your account much faster.

Tips for Making DriveTime Payments

Here are some tips for successfully managing your auto loan payments with DriveTime:

• Set up automatic payments to ensure you never miss a payment. This can be done online or through the automated phone system.

• If mailing a payment, allow 7-10 days for it to reach and process to avoid late fees.

• Log into your online account regularly to check balances, view payment history, and receive reminders.

• Call customer service if you need to update payment info, discuss payment concerns, or ask questions.

• Avoid late fees by paying at least the minimum monthly amount due before the payment due date.

• Make extra principal-only payments when possible to pay off your auto loan faster and save on interest charges.

What Happens if You Miss a Payment?

It’s important to pay your DriveTime monthly auto loan payment on time to avoid late fees and other issues. If you miss a payment, here is what can happen:

• A late fee is charged, usually around $20-50 depending on your state.

• It is reported to the credit bureaus, negatively impacting your credit score.

• DriveTime can initiate the collections process or repossess the vehicle after multiple missed payments.

• You may have to pay the full remaining balance of the loan immediately.

To avoid these consequences, be diligent about making your monthly car payments on time, every time. Contact DriveTime immediately if you anticipate having trouble making a payment.

Alternative Payment Arrangements

If you are struggling to make your normal monthly DriveTime payments, you may be able to make alternative payment arrangements. Some options include:

• Due date change to better align with your pay schedule

• Temporary reduction in monthly payment amount

• Extension of the repayment term to reduce monthly payments

• Deferment program to pause payments for a short period if you qualify

Contact the DriveTime customer service department to discuss payment arrangement options for your situation. Any adjustments must be approved by a DriveTime representative.

Closing Thoughts on DriveTime Payments

Paying your auto loan with DriveTime is simple and convenient through their various payment channels. Be sure to carefully review your loan agreement for the required monthly payment amounts and due dates.

Set up automatic payments or keep track of payments yourself each month. Avoid late fees and credit impacts by paying on time consistently. Take advantage of DriveTime’s online account access, phone payments, in-person options, and mail-in payments to find the right payment method for your needs.