I have an auto loan with BB&T. Since Christmas we have been trying to catch back up on our finances which we almost have done just that. My question is do you think BB&T will let me skip Februarys payment? I have a good record with them on payment. I never miss or late. I've been paying on this auto loan for 3 years, $340 a month and 2 more years of payments left. I'll choose best answer. Thanks.
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Favorite Answer
You won't know until you contact them and discuss. Maybe they will let you make an interest payment, which would be much less than your entire payment and still keep you current.
Willie
Some banks will allow you to skip a payment, but you have to pay the interest the following month.
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Bbt Car Loan
Dan B
Sure you can skip it. But don't expect them to look favorably on it. Legally, they can repossess the car the day after the payment is due, but that's almost never done. They'd rather have their money than your car. Looks like you, as many people do, overspent your Christmas budget. Now you have to pay.
Badge203
How in the hell do you think we would know?
Some lenders have a 1 month skip payment financing (My bank offers that, but I would never use it), so call and ask them, they may require you only pay the interest, but no way of us knowing