Yes! You can always make additional payments on your CarHop Finance account and there are never any penalties for early repayment of your balance. Remember too, that if you pay a little extra each payment – just a few bucks – you save money on interest and you will pay it off sooner.
Giving the car back may not eliminate your payment obligation and it can damage your credit score, which you’ve been working to build. Call your CarHop Finance representative to discuss ways we can help your situation.
Your vehicle is necessary for your family. We will do everything in our power to help customers make their payments, but if they won’t work with us, we have to make some hard choices. One of those is repossession.
CarHop is not in the business of taking cars. Our job is to keep everyone driving. Repossession is the last resort and is as unpleasant for CarHop as it is for the customer. Both CarHop and the customer experience financial loss in a repossession. It hurts the customer’s credit and reduces their chances to get a vehicle in the future. It’s critical that whatever your situation is, you stay in regular contact with CarHop.
Your CarHop Finance account representative can you help you to update your account information. You may need to provide a pay stub from your new job and other documents, but remember, our goal is to help you keep driving!