 TITLE: Can’t Afford Your Car Payment? Here’s What to Do CONTENT: Instant Action to Take Now if You Can't Afford Your Car Payment\n---------------------------------------------------------------\nAll the strategies above have merit depending on your circumstances. But take these three steps first, as soon as you know you're not going to make your payment:\n*   **Call your lender.** Don't wait. As soon as you realize you're in danger of missing a payment, get your lender on the phone. Ask what type of relief programs, loan extensions or payment plans it can offer, getting any promises in writing before hanging up.\n*   **Run the numbers.** To understand your options, including refinancing your loan or selling your car, you'll need to get a handle on certain numbers. Ask your auto lender how much you owe on the car, visit kbb.com to learn how much the car is worth and check your credit scores using our free tool.\n*   **Consider the whole financial picture.** Even if you're able to get a deferral or refinanced loan, you should ask yourself the hard questions. Is this car truly within your budget? Or is this stressful situation happening more often than you'd like to admit? Depending on your answers, selling your car may be the smartest option.\nWhatever you do, don't ignore that pile of bills. Missing a car payment—just one!—could result in fees, damage to your credit scores and even repossession. So start taking action today; the earlier you do, the better off you'll be.\n**_Note_**_: If you're struggling because of COVID-19, see if you're eligible for any relief programs. Even if you can't get pandemic assistance for your auto loan, you may be able to get help with other bills, freeing up money to make your car payment on time._ END