How many payments can you go?

Question

I am getting married in the middle of August and there have been so many expenditures I didn't plan for. Anyway, I missed my car payment this month. I have never ever been late with my car payment and I have had it for almost 2 years. I have always heard people saying that they have gone months without paying. How many months can you go? I don't want to not pay it, but if I pay it, I can't pay the florist. Anyway, it is my fault I didn't budget right. I understand the late fees and bad point on credit, but how long is it until they can legal take back the car? I am definitely paying it next month after we get married. By then I will be a payment and a half behind.

Answer 1

If you have never been late, then call them and see if they can put the missed payment ontot he end of the loan. THey do this all of the time. If they know it is because you are getting married then they generally will help you out because then they know there will be added income to your life and you won't likely let it happen again. I have done this before, and they do it so that they don't end up eating the loan. Just call them and explain it to them and see if they can put the payment off for you and add it to the end. It won't change your interest amount because car loans tack the interest on the front of the loan.

Answer 2

i think it's something like 3 months before they will repo it

Answer 3

You should contact the finance and company and let them know that you are going to be late this month.  They may let you do an interest only payment, but, if you're past 30 days, they may have already reported you to the credit reporting agencies as a "slow payer".  Definitely call the finance company right away.

Just because others have gotten away with it...doesn't necessarily mean you would, too.

Answer 4

3  months will getcha

Answer 5

Most companies have a 90 day policy before they submit you for a reposession.  They have mitigators that will call you and try to work something out before they just repo the car.  I believe your car will be fine for another month.  Don't push it though.  Being late on your car payment can really hurt you if you and your significant other are trying to buy a house.  Just FYI