Alfa Romeo Finance: What to Do if You Miss a Loan or Lease Payment

Wondering what might happen if you miss a payment on your loan or lease is a common concern for people investing in a new vehicle. The most important thing is to speak to your Alfa Romeo finance department as soon as possible. Here are some more ways to get back on the road to good standing.

Talk to Your Lender

Your Alfa Romeo dealer wants to see this situation resolved just like you do. Contact your finance department and ask if they have any relief programs. COVID, inflation, and economic uncertainty have made paying loans more difficult, so lenders may be more flexible with their terms. If you’ve paid on time so far, you may even be able to pause payments for a short time.

Make sure you understand the details of your loan—things like the balance left on the loan, the interest rate, and the length of the loan. If you’re unsure about these, your dealership should be able to help you.

Long-Term Solutions

If this is just a short-term issue, you may be able to get a pause or deferral. However, consider refinancing or trading in your car if you suspect you will have a longer-term problem affording your payments. Bring your vehicle in and ask one of our agents whether selling or trading your car for another Alfa Romeo car may be a good idea.

It is essential to remember that your dealership is more interested in helping you find a way to pay than the lengthy process of repossessing your car. Reach out to one of our financing agents today, and find out how we can help you stay behind the wheel of your Alfa Romeo car.