AwkwrdFates
New Member
As title says, can I postpone my auto loan payment this month??
Can I postpone my auto loan payment somehow?
- Thread starter AwkwrdFates
- Start date
If you're having a hard time making your car payment, one option is to ask your lender for a deferment (=delay / postpone). This means your payment could be delayed and added to the end of your loan term, so you wouldn’t need to pay that month (or possibly a few months). Change of due date is also worth a try.
But, every lender has different rules:
- Some will still require you to pay the interest each month, even if the main payment is paused.
- Others may limit how many times you can request a deferment.
- And it's not something you can usually do over and over again.
Just to sum up, just call them and explain.
But, every lender has different rules:
- Some will still require you to pay the interest each month, even if the main payment is paused.
- Others may limit how many times you can request a deferment.
- And it's not something you can usually do over and over again.
Just to sum up, just call them and explain.
Last edited:
June
New Member
In my own experience, lenders usually don’t jump into action the moment you miss a payment. I remember falling behind on a car loan a few years back life got messy and I missed 1,2,3 payments. Technically I was in default after 30 days, but I only got a negative credit mark after 30 days.
It wasn’t until I was about three months behind that they started getting serious. I’d say it took around 90 to 120 days before they really began reaching out more aggressively and warning about potential repossession. It was stressful yes.
It wasn’t until I was about three months behind that they started getting serious. I’d say it took around 90 to 120 days before they really began reaching out more aggressively and warning about potential repossession. It was stressful yes.