Will banks offer an extension if I cannot make my car payment on time?

Answer by  TOM10309 (149)

Yes, call the bank loan department and ask for an extension and explain your situation to them. Communicate with them and they will try to work a deal with you. However if you don't communicate with them and skip payment or get several months behind, they will repossess your car.

Answer by  flamiss22 (5081)

Make sure you call the bank before you miss the payment and try and get it tacked on to the end of the loan so you don't go into default. They would rather work with you than have it repoed. No one wins in that situation.

Answer by  WBD (45)

More than likely a bank is willing to work with you. The plan of action is to contact the back with your very on plan. Express to them your current challenge and how you foresee bringing your payment current. Most people try to avoid the banks, but it really isn't necessary.

Answer by  shivasri2009 (8)

No, bankers will not provide extension to make the payment. But the give three months time to pay the installments with penalty. but you may make request in letter for the reasons for why to asking the time to make the payment.