Will lenders give you an extension on a car payment?
Will lenders give you an extension on a car payment? I'm going to be late on my car payment by about two weeks, but I don't want to damage my credit score.
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Answered on Jun 30, 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.
“Some lenders may provide a number of extensions throughout the life of your loan, but not all of them.
However, being two weeks late on a loan probably won’t result in a derogatory mark on your credit, as most lenders won’t report this unless you’re 30 days late or more.
Your best bet is to call your lender and tell them what’s going on. They may allow you to defer payment, pay later, or some other solution that works for both parties.”
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