 TITLE: What Happens If You Defer a Car Payment? CONTENT: When Does It Make Sense to Defer a Payment?\n-------------------------------------------\nDeferring one or two car payments makes sense if you've experienced an emergency expense or temporary reduction in income that you know will be remedied within a short time—for instance, if you have a lull between the end of one job and the start of another. If you seriously doubt you'll be able to get your payments back on track after a month or two, you can use deferment to buy some time, but you'd probably be wise to use that interval to consider finding a less expensive ride.\nIf you can't get a forbearance agreement from your auto lender, or it becomes clear that you won't be able to resume your regular payment schedule after your authorized deferment period ends, consider selling the car. If you can get more for the car than what you owe on the loan, you may be able to put the surplus from the sale toward a less expensive vehicle (or a ridesharing service). END