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Can You Defer a Car Payment?


Can you defer a car payment? If your budget is tight and you’re worried about whether you can afford your next car payment, then you’re not alone. Many Clear Lake drivers find themselves in this situation, but they understand there are consequences to missing a payment altogether. Luckily, many lenders do allow borrowers to defer a car payment to the end of the loan when necessary. This guide from the Big Star Chrysler Jeep Dodge Ram Fiat Clear Lake finance center provides more details on the car payment deferral process and reasons to defer a car payment. 

What Is a Deferment on a Car Loan?

Unsure what is a deferment on a car loan? In short, payment deferment on a car loan allows borrowers to put off the payment for the time being, with the payment then applied to the end of the loan term. This allows drivers from Houston and beyond to avoid repossession, and some auto loans have a built-in deferment policy.

How to Defer a Car Payment

First and foremost, in order to defer a car payment, you must contact your lender for approval. As soon as you become aware that you cannot make your next car payment, get in touch with your lender. Be honest about your current financial situation in this conversation, providing details as to why you must defer your car payment. Remember, you may still need to pay interest even with a payment deferment on a car loan.

How Often Can You Defer a Car Payment?

Different lenders have different deferment policies, so how often you can defer a car payment varies. There also may be differences in whether deferment frequency applies on a yearly basis or over the entire loan term. Check with your lender for specifics on your loan deferment policy.

Is Deferment Right for You?

There are a number of reasons why you may wish to defer a car payment, but is deferment right for you? Pearland drivers should explore the advantages and disadvantages of deferring a car payment so that you can make an informed decision.


  • No risk of repossession, saving your credit score and car ownership.
  • No late fees.
  • Extra time to refinance your auto loan, which in turn helps you to make payments in the future.


  • Payment doesn’t disappear, as the payment will be due at the end of the loan term.
  • Often must still pay interest for the month.
  • Interest continues to accrue during deferment.

Turn to Big Star Chrysler Jeep Dodge Ram Fiat Clear Lake for Auto Finance Advice 

Do you have additional questions on payment deferment on a car loan? Are you seeking additional auto finance advice? Get in touch with Big Star Chrysler Jeep Dodge Ram Fiat Clear Lake! Otherwise, refer to our finance and insurance information hub for more answers to your questions, including how to finance a car with bad credit.

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