Are there penalties for deferring car loan payments?

Answered by Car Loans Expert Johnny on April 7, 2021

My husband was laid off a few weeks ago and we're struggling to keep up with our bills. We're thinking of deferring our car loan payment, but will we be penalized for doing so?

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Johnny

Car Loans Expert

“Every lender is different and has their own unique policies, but deferring a car loan payment usually does come with a fee. However, it is usually not much and is added to the next payment amount. Contact your lender to confirm whether they impose a penalty for payment deferral. “


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