Home › Answers › Can you skip or defer a car payment with Ally Financial?
Ally Financial does offer payment deferment options, but it's not automatic—you have to request it, and approval depends on your account status and loan terms. If you're facing a temporary hardship, Ally typically allows you to defer one or more payments, which usually gets added to the end of your loan rather than forgiven. The process usually starts with a call to their customer service line, and they'll review your situation to see what options exist. Keep in mind that deferment still costs money overall because you're extending the loan term and paying more interest. Before you skip a payment, understand that missing a payment without approval damages your credit score and can trigger late fees or default notices. Even one missed payment stays on your credit report for seven years. If you're struggling with your current Ally payment, deferment is better than missing a payment, but it's still a temporary fix—you're not reducing what you owe, just moving it around. The real solution often comes down to refinancing into a lower payment or restructuring your loan entirely. If your credit has improved since you got the original loan, or if interest rates have dropped, refinancing might cut your monthly payment significantly without extending the loan as much as deferment does. If cash flow is the issue, Elite Edge can help you explore refinancing options with multiple lenders to find a genuinely lower payment. Text or call (954) 907-2386 to discuss your situation, or use the 60-second Pre-Qualify at eliteedgeautobroker.com/PreQualify to see what's possible.
What happens to your credit if you defer a car payment?
Deferment itself doesn't hurt your credit if approved by the lender, but missing a payment without approval does serious damage. Contact your lender before the payment is due to request deferment formally.
Can you defer multiple payments in a row with Ally?
Ally may allow deferring more than one payment depending on your loan agreement and hardship, but there are limits—typically one to three months. You'll need to speak with their hardship department to find out what applies to your specific loan.
Is deferment better than refinancing for lowering payments?
Refinancing is usually better long-term because it can lower your rate and payment without just pushing debt to the end of the loan, but deferment works faster if you need immediate relief. Both options require approval based on your credit and income.
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