Besides the principal and interest on your loan, your monthly payment will include any optional add-on products you agreed to purchase, like credit insurance, GAP insurance, extended warranty, or dealer after-market options. If you’ve made a late payment, late fees may also be added to a single payment, if allowed in your contract.
If you did not agree to purchase add-on products or your monthly payment is higher than your loan agreement calls for, contact your lender or the servicer identified on your statement and ask for an explanation – there might be a billing error, or they may have added something you did not agree to before purchasing.
If you talk with your lender or servicer and are not satisfied with their answer, you can also submit a complaint with the Federal Trade Commission (FTC) , or with the CFPB online or by calling us toll-free at (855) 411-CFPB (2372). You can also tell us about your experience without submitting a formal complaint. You can also contact your state attorney general .
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