Can I skip my car loan payment?
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Life is full of twists and turns. Sometimes even the car loan payment can seem like a stretch. Guess what? You can use the Skip a Pay option to skip your car loan payment up to twice a year.
For every loan you skip, there is a $30 fee that goes back to our community. Since this money stays local, you’re not only getting a little extra spending money, you’re also helping to support community programs.
Can I defer my car payment?
Yes. If you are a member in good standing, you can skip a loan payment whenever it fits your needs up to once every six months on your qualified loans.*
How often can I use Skip a Pay?
One skip per qualified loan every six months. Normal payment schedule will resume on the month following the skip.
Does using Skip a Pay impact my credit score?
Skip a Pay does not count against your credit like a missed or late payment. Skipping a payment may extend the term of the loan. Interest will continue to accrue per your original loan agreement during the skip period.
Can I use Skip a Pay on my first car payment?
Loans must fund at least 90 days before a skip, and you must make three months of payments to be eligible.
How can I skip a loan payment?
Here’s how simple it is:
- Log in to Online Banking
- Select the Loans/Payments tab
- Click Skip a Pay
- Select your eligible loan
- Select the month you want to skip
Enjoy the freedom of some extra cash while knowing you’re helping your community.
You can also visit your favorite branch or give us a jingle at 800.433.1837.