Can I skip a car payment with Chase or my lender?

Skipping a car payment typically isn't an option Chase or most lenders will allow without serious consequences. A missed payment gets reported to credit bureaus within 30 days, damages your credit score, and can trigger late fees, higher interest rates, or acceleration of the full loan balance. Some lenders offer payment deferment programs where they push a missed payment to the end of your loan, but this is rare, requires advance approval, and you still owe the money—it just gets tacked on later. If you're facing a temporary cash shortage, contact Chase directly before missing a payment. Ask specifically about forbearance, deferment, or loan modification options. Many lenders have hardship programs for borrowers in genuine financial difficulty, though approval isn't guaranteed and terms vary. The key is calling proactively, not waiting until the payment is late. A better long-term fix is refinancing to a lower payment if your credit has improved or rates have dropped. This replaces your current loan with a new one, often with better terms. If you're underwater on the loan (owe more than the car is worth), refinancing becomes harder, but it's still worth exploring. If you're struggling with your current car payment and want to explore refinancing options or discuss whether a different vehicle might fit your budget better, Elite Edge can shop multiple lenders for better rates and terms. Call or text (954) 907-2386 on WhatsApp, or use the 60-second Pre-Qualify at eliteedgeautobroker.com/PreQualify to see what's possible.

Common questions