How to Make a Car Payment to Chrysler Financial

If you've financed or leased your new vehicle through Chrysler Financial/Chrysler Capital, making payments on time will be a part of your strategy for money management until your new car is paid off. Fortunately, Chrysler makes it fairly easy to pay your auto loan by its due date each month using a variety of different payment options. Keep in mind that being on time with your auto loan payments each month won't just help you to avoid fees and penalties. Your payment history on your car loan or leasing agreement will impact your credit score. That directly impacts your ability to qualify for financing from financial institutions in the future.

There's also another reason for customers to be consistent with payments after they make vehicle purchases through Chrysler. Paying your bill early can actually save you money over the life of your financing agreement. The opposite is true if you're late with payments.

There's a bit of a learning curve when it comes to knowing how to make payments directly to Chrysler Financial/Chrysler Capital because the process is slightly different than the process for paying off something like a credit card bill, student loan or line of credit. The company actually allows you to pay your loan or lease directly or through third-party payment channels using a variety of methods. Take a look at what you need to know to get started with your first payment if you're fresh from the dealership with your new car.

It's smart to go online to create your Chrysler Capital MyAccount before you attempt to make any payments. This will be your quick payment portal where you can link payment options to your account. It's also a great resource if you need to update account information, contact customer service or review payments. Once you've created your account, you can sign up for paperless electronic statements if you prefer to not get paper bills in the mail. Here is the link where you can create your own Chrysler Capital MyAccount. You can access your account from any device once it's created.

First, it's important to know about which forms of payment Chrysler Capital accepts. You can then decide how you want to submit your payment. Payers actually have a total of nine options to choose from when paying their bills. Take a look.

This is where you'll use the Chrysler Capital MyAccount you just created. An ACH payment is an automated clearing house payment that processes transactions electronically. Chrysler allows payers to make ACH payments from their checking and savings accounts without any fees.

If you want to use a debit card to pay your Chrysler bill online, you can set up a payment funnel via Western Union once you're logged into your MyAccount account. The perk of this payment option is that it will post the same day. However, you may have to cover fees with this option.

If staying on track with on-time payments is the priority, using Chrysler's Auto Pay feature is wise. This is a free service where the amount you owe will automatically be deducted from your savings or checking account when it's due. This is the "peace of mind" option for people financing vehicles because you never have to worry about your bill being late or missed. Just make sure your account information is always current to prevent a request for automatic payment from being denied.

There's never any reason to worry if you can't get online to pay your auto bill. Yes, Chrysler allows you to simply pick up the phone to pay your bill. You can call ​1-855-563-5635​ to enter an interactive voice system that allows you to complete your payment using voice prompts. If you want to pay by phone without a fee, use your checking or savings account. While you can use a debit card, you'll be charged a fee.

Do you prefer to pay your bills the old-fashioned way? Just grab your payment stub. You'll need to tuck the stub and a check payable to Chrysler Capital into the envelope provided to you with your statement. It's also recommended that you write your account number on the actual check. Money orders are accepted for mail payments. Here's the address where you can send your Chrysler Capital vehicle payment by mail:

Chrysler Capital-Retail

P.O. Box 660335

Dallas, TX 75266-0335

Chrysler Capital-Lease

P.O. Box 660647

Dallas, TX 75266-0647

Mail is definitely the slowest way to pay your Chrysler vehicle bill. In fact, the company warns that it can take seven to 10 days for payments that are submitted through the mail to be processed. This can be dangerous if you don't have time to cut it close with payments. If you choose to mail in payments, give yourself a large buffer between your mailing date and your due date. Mail is not a good option if you're sending a late payment because you're looking at an additional seven to 10 days of lateness being tacked on once your payment is submitted. You should also keep in mind that mailing times can be longer around holidays due to mail volume. If you're not interested in making payments by mail, you can select the option to go paperless using your MyAccount account.

While you can't technically pay your Chrysler vehicle bill in person, you can walk into a MoneyGram retail location to make a payment. With more than ​30,000​ MoneyGram locations around the country inside major retailers like Walmart, this can be a pretty convenient way to pay your bill. The downside to this option is that you will be charged a fee for using MoneyGram.

You can wire payments to Chrysler via the Western Union Quick Collect option. Unlike Chrysler's direct payment options, this is a good option if you prefer to pay your car bill using a credit card because you can actually use VISA or Mastercard. If you prefer to use cash, you can take your payment to a Western Union agent.

Yes, the third-party options for paying off your Chrysler auto loan just keep coming. You can visit one of the thousands of PayNearMe locations around the country to make a cash payment. However, you are looking at a fee when you choose this option.

The last option is to visit one of the thousands of CheckFreePay locations around the country to pay in person. In most cases, your payment will post the same day when you use CheckFreePay. However, you shouldn't necessarily rely on that because payments can technically post anywhere from the next day to three days out depending on the time of your payment. Again, you're adding on a fee when you use this option.

Missing payments can actually make your auto financing more expensive in the long run because you're going to be on the hook for late fees and added interest. This is why it's so important to get into a routine using a preferred payment option to make consistent payments. The best strategy is to pay your bill on the same day each month. For most people, the Chrysler Auto Pay feature is simply going to be the best option for never missing payments.

The reason why paying your Chrysler auto financing bill on time each month is so important is because this form of financing uses simple interest that adds up daily. That means that people who pay their bills by the due dates only pay the exact amount of interest that is stated in the payment contract. However, paying late means that a larger chunk of your payment is actually going toward covering the interest on your loan. The reverse is also true. If you pay your bill early, more of the money is going to go toward your principal balance instead of your interest. Yes, you heard that right. Paying your Chrysler bill early every month is actually going to save you money in the long run because you'll be accumulating savings all throughout the course of your loan term. If you're able to make early payments before your monthly due date, this will put you in a great position to technically pay less for your car throughout the life of your financing agreement.

Chrysler currently has programs in place to help customers who are having a hard time paying their bills due to the COVID-19 pandemic. Some customers may be able to qualify for extensions that delay payments by extending financing terms. Customers who have been impacted by the pandemic can call Chrysler customer service at 855-563-5635 to inquire about hardship options.