How many extensions can you get on a car loan?

"I lost my job and have had some unexpected expenses. I already asked the lender for three extensions on my car loan payment, which they granted.

How many extensions can I ask for before they deny my request?"

“If you have a lender that’s already granted an extension three times, don’t take advantage.
The fact that they’ve granted these extensions shows that they value their relationship with you, and they bend over backward to keep the relationship going.
Instead of asking for another extension, call them and tell them about your situation. At the very least, you should give them something in terms of payment.
Few lenders want to repossess a car because they usually end up taking a loss on the loan if you don’t pay the balance after they sell the vehicle. That said, be honest and upfront, and hopefully they’ll work with you.”
Eric Schad
Answered on May 28, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.

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