I have a car loan, I don;t have all the money to pay for, can I make partial payment?

I want to know if I can make a partial payment on a car note and not receive collection calls

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  • 1 decade ago
    Favorite Answer

    I get paid bi-weekly, so I pay half of my car note each time I get paid. So instead of shelling out almost $400 in one lump sum each month, I pay about $200 out of each pay check. It's so much easier on my pocket - and as long as you stay regular, they won't hassle you.

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  • 4 years ago

    it sux but the bank has you over a barrel. Just think if you want to be wealthy or if you want to be average. Most millionaires have declared bankruptcy at least once. Do what you need to do to get yourself to the next level. Don't let a credit report affect you. Credit scores are important but so is finishing school. Would you rather pay the bank and have no education or screw the bank and get your education and then get a good job so the blemish of a repo on your credit report is insignificant? the most important bills are dealing with food and shelter- anything else is insignificant. we are talking about survival here. Take care of you first. Take a chance on yourself- 1. Call the bank and tell them where they can pick up the car and buy a good used car with absolutely no sex appeal 2. When they auction the car, get the deficit 3. Get on a payment plan to pay off the deficit and make the payments so you do not have a charge off. 4. Pay all your other bills on time for the next 12 months and it will be like the repo never happened, then - Get your education and fight another day.

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  • 1 decade ago

    You need to call the bank beforehand have them agree to partial payment. Anything less than the full amount is not sufficient and they will consider you delinquent. If this is a short term situation, then you need to communicate to the bank how you will bring your account current. If making payment is an ongoing problem, you need to get rid of the car ASAP.

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  • 1 decade ago

    You have to call the financing company and ask them.

    They are usually pretty good about things like that unless it's more than 30 days past due or if you've gone 30 days past due any time on your loan.

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  • 1 decade ago

    ring & discuss it with the people u got the loan off......i did last week & they were fine with me changing my payment options as long as i communicate with them, i am in Australia tho, may be different where you are, just call & communicate! Hope u got a nice car, mine has a heater FINALLY!!!!!

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  • 1 decade ago

    Call the finance company and see. Usually they will be willing to work with you if you show that you are trying.

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  • Judy
    Lv 7
    1 decade ago

    That's up to your lender, but probably not. Call the lender and let them know you're having difficulties - maybe you and they can work something out.

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  • 1 decade ago

    I know in my state they can deferr car loans, by law, so check with your laon company!

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  • YES, ITS CALLED AN INTEREST PAYMENT, YOU PAY ONLY THE INTEREST AND THAT PAYMENT WILL BE ANDED TO THE END OF YOUR PAYMENT SCHEDULE.

    Source(s): IM A BILL COLLECTOR
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