- Friendly staff at 8 convenient locations
- Quick approval even if you have been turned down at other dealerships
- Short term loans averaging 30 months
- Affordable down payments
- Low monthly payments
- Affordable vehicles to fit your needs
- Build Your Credit
If your new car is in danger of being repossessed, finding solutions is of the utmost importance in the Mesa. For many, the first step is asking, “can you defer a car payment?” For some Surprise drivers, the answer is yes–but it may not be the case in every instance. So what is payment deferment on a car loan? It’s a temporary fix – the lender allows the borrower to skip a payment or two and adds the missed payments to the end of the car loan.
There are good reasons to defer a car loan, but there are also plenty of reasons to consider other options. Is your financial trouble likely to ease in a short time? If not, deferment only delays the inevitable.
Lenders will use several different procedures to ensure they’re paid back, and not all of them will consider deferment a feasible solution. However, if you have a good relationship with your lender and communicate your issues clearly, most lenders will try to find ways to help you. First and foremost, call your lender before you miss a payment. Payment deferment on a car loan becomes much more difficult for the driver who waits to act.
Not paying back your car loan can have enormous consequences. Borrowers looking for reasons to defer a car payment have a few options as well:
Losing your car is always a nightmare, but car repossession is the worst outcome. Not only do you lose your car, your credit takes a major hit. It will definitely affect your ability to obtain loans in the future. Try these solutions to avoid forcible repossession if you absolutely can’t pay:
If you’re falling behind on your car loan, the worst thing to do is skip a payment or avoid the lender. If you get in front of the problem with these steps, you will be okay.
For more information on deferring a car payment, contact our finance department at Cactus Jack's Auto! We have several different locations, including Phoenix. Whether it’s information on reasons to defer a car payment or car buying tips, we’re here to help!
The Chevrolet Camaro has built a long-time reputation as being an American muscle car with plenty of performance. From its modern revival to its historic past, enthusiasts and experts alike can all agree that when you want a classic American muscle car to peruse the Mesa streets and take to the track, you’ll want…
At Cactus Jack's Auto, we pride ourselves on a full inventory of like-new used vehicles, from a wide variety of top-quality automakers. One of our favorite vehicles from years past is the 2013 Hyundai Sonata, a sporty mid-size sedan that got rave reviews from critics when it first debuted several years ago. If you’re looking for something…
When you browse through our comprehensive selection of vehicles, you’ll find a wide variety of different makes and models that include different configurations. You may even notice the same make and model vehicle with a different trim level or options which can affect pricing. So, what is trim on a car? Today, the experts from…