What happens when the bank you have your auto loan through gets bought out?

Question by WhAt?: What happens when the bank you have your auto loan through gets bought out?
My auto loan is through Wachovia and i just read they are going to be bought out by Citigroup. What happens now?

Best answer:

Answer by Gem
You keep paying the bill, just like normal.

In a few months, you will be contacted to send your payment to somewhere else.

Citibank will have to continue your loan, as is. Nothing really will change for you. Except maybe the name on the check you send.

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