What happens to my lender, payments and fees during auto conversion?

Applies to: United States and Canada.

Your existing lender's loan remains in place during auto conversion. The payment arrangement changes through Ijara; conversion does not itself pay off or replace the original lender agreement.

For US conversions, Ijara's process includes informing the lender when Ijara takes over payment handling. For Canada, confirm the notification and transition steps for your agreement.

Will my total monthly cost stay the same?

The original loan installment and your total cost are different amounts. Keeping the lender's financial terms does not mean Ijara's administration service is free.

The country program pages list these auto-conversion fees:

Confirm the currency, current fees and total collection amount in your written quote. Use the fee schedule for your country.

Ask the team to show the original installment, the recurring Ijara charge, any one-time charge and the total amount to be collected. If early payoff matters to you, ask how the original lender's payoff terms and any Ijara charges apply.

When should I change my existing automatic payment?

Before changing it, get written confirmation of:

• The first collection date and amount through Ijara.
• Which payment you should make next and who will send it to the lender.
• Whether an existing automatic payment needs to be cancelled, by whom and when.
• The date the lender must receive the payment, which may differ from Ijara's collection date.

Do not cancel or skip a payment solely because you applied, signed documents or received a conversion email. If both Ijara and the lender appear to have collected a payment, contact Customer Care to check both transactions before arranging another payment.