Asked for an extension and they denied. I do not know what are my options i cannot borrow from any friends or family. I am thinking of just skipping this payment till' next month. Will they want to repo? what will they do?
2007-03-22 13:59:26 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
I have had car loans at two different places in the past and if I couldn't make a payment they would let me make an interest payment instead of the full amount...I think there are only a number of times a year you can do this...you may want to ask your loan company if they will let you do this..Although normally they don't offer it ..you will have to ask...as for what will happen with one payment late..it will be documented on your credit report..I don't think a repo will happen for just one payment..at least I hope not...hope this helps.
2007-03-22 14:08:33 · answer #1 · answered by extraneouscropduster 2 · 1⤊ 0⤋
You will continue to get calls from them for the remainder of the month to "remind" you that you may have "forgotten" to make your payment. After 30 days, you will be reported to the credit bureau as late. This will continue for as long as you don't make up the missed payment. Pay before you are 30 days past due if you can. They probably will not try to repo your car as long as you are not more than one payment late, but no guarantees.
2007-03-22 21:06:57 · answer #2 · answered by Brian G 6 · 1⤊ 0⤋
it depends on who you have the car financed through. ive got my car financed through chrysler financial. ive gotten as far behindd as 3 payment(when i was between jobs) and the had already started the repo process. but i was able to save my own *** by borrowing form my bf. but anytime im unable to pay, i call them will have to pay the extention fee, but its worth it. you might want to call the place u finance your car through. cuz u DONT want ur car repoed. it wont be easy to get another. dont just skip it, ask what other options u have. good luck!
2007-03-22 21:05:55 · answer #3 · answered by Anonymous · 0⤊ 0⤋
well it depends if you have done it before, but just one car payment does not really do much damage (if paid before damage is done :)
fun fact: did you know that bills travel through mail at twice the speed of payments? LOL
2007-03-22 21:05:15 · answer #4 · answered by eject911 3 · 1⤊ 0⤋