Skip to main content
An official website of the United States government
(855) 411-2372
Submit a Complaint

Am I required to purchase credit insurance from a lender or dealer to get an auto loan?

No, generally you cannot be required to buy credit insurance. Lenders cannot deny you credit if you refuse to buy optional credit insurance. If you feel pressured to buy credit insurance, walk away and consider looking for a different dealer or lender.

If a lender or dealer denies you credit because you refuse to buy any optional products like credit insurance you may want to submit a complaint with the CFPB. In addition to filing a complaint with the CFPB, you can also file a complaint with the Federal Trade Commission (FTC) . You can also file a complaint your state attorney general or state consumer protection office . If you’re in the military, you should report this to your installation JAG immediately. To find your JAG Legal Assistance Office use the locator.

Credit insurance is usually expensive and you may be able to accomplish the same goal by obtaining other insurance coverage, such as life insurance. Other coverage may be cheaper and provide you with more flexibility by allowing you to pay off more than just the amount of your auto loan. Before you sign any loan papers, ask the lender whether the loan includes any charges for credit insurance.

Take the next step

Submit a complaint

We’ll forward your issue to the company, give you a tracking number, and keep you updated on the status of your complaint.

Submit a complaint

Don't see what you're looking for?

Browse related questions

Was this answer helpful to you?

Please do not share any personally identifiable information (PII), including, but not limited to: your name, address, phone number, email address, Social Security number, account information, or any other information of a sensitive nature.