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J824K
Newcomer

J824K asked 12 months ago in Car Loans

State of health State Farm Auto Loan Department

I currently have a 60 month auto loan with State Farm Bank.
Is this loan safe in view of all the banks having problems.

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David R Hanson
FiLife Contributor
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Well, the bottom line is that since you already have State Farm's money out, you will should be OK. :)

If the loan was pending or otherwise not yet funded, it's possible that the loan might be affected by current financial turmoil. (Today's $800 billion allotment to lenders includes car loan backing, so that should somewhat reduce the pressure that car lenders are feeling.)

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