Can You Defer a Car Payment?

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When faced with an unexpected financial emergency that requires the reallocation of funds, some San Antonio and Sugarland drivers may fret about how they’ll make their next car payment, leaving some to wonder: Can you defer a car payment? The short answer is yes, many lenders will allow for payment deferment on a car loan when needed. You can learn more about the process and the pros and cons of car payment deferment with the finance team from Aston Martin Houston, below.

How to Make a Payment Deferment On a Car Loan

First, we’ll address the common preliminary question many The Woodlands individuals have, which is, “What is a deferment on a car loan?” Deferments allow the borrower to bump a loan payment into the future to be paid at a later date when they can’t make it right now. Oftentimes, a payment deferment is needed to avoid repossession. Some auto loans come with a built-in deferment policy, but no matter your circumstances, you cannot defer a car payment without first contacting your lender to ask them for approval.

Don’t wait to contact your lender once you know you will need to request a payment deferment on a car loan. The reasons to defer a car payment are many, and they’ll vary from person-to-person. In any case, it’s important not to delay the conversation even if it’s a tough one to have. Prepare yourself to be upfront with your lender as they will need to know the specifics as to why you need to defer a loan payment. Keep in mind, some lenders will still require you to pay interest when you defer a payment.

How Often Can You Defer a Car Payment?

This answer depends on your lender’s deferment policy. Some will only approve one deferment, while others will approve up to two or more. The number of deferments you’re allowed may apply to a yearly basis or to your entire loan term; again, the answer is dependent on your lender.

Is Deferment a Viable Solution?

For some, the right question to ask isn’t “Can you defer a car payment?” but rather “Should you defer a car payment?” Of course, missing a payment altogether is not an alternative you can consider, but it may be better to reach out to family or a very close friend who might be able to help you out for the time being. To help you determine whether deferring a car payment is the right solution to your situation, take a moment to look at some common advantage and disadvantages:


  • Deferring a car payment avoids the risk of a repossession, which not only leaves you without transportation but can make your credit score take a serious hit.
  • You can avoid significant late fees.
  • If you still have equity in your car, a payment deferment on a car loan may provide you with some extra time to sell it.
  • Deferring a car payment can also give you some extra time to refinance your loan, which could give you lower monthly payments and lower the risk of recurring payment issues in the future.


  • Keep in mind that with deferment, your payment isn’t eliminated. It is sent to the end of your loan, so you will still need to pay it in the future.
  • Some lenders still require you to make interest payments for the month when you defer a payment.
  • Even during a deferment, your car loan is accumulating interest. This means you could end up paying more interest over the term of your loan than you would have had to pay if you had made the payment on time.

Contact Aston Martin Houston for More Auto Finance Tips

Have lingering questions about car loan deferment? Contact us for more information. Or, check out our online car-buying information center, where you’ll find more helpful advice on buying vs. leasing, calculating the interest rate on a car loan, and more!

Aston Martin Houston 29.783246, -95.442392.