Finance Questions

Question: deferring a car payment with Honda Finance?

does anyone have any experience with Honda Finance and payment defrements? I have deferred a payment app 3 months ago, and now have lost a job, I called to ask for help with another dferrment and was told they could not help, you can defer a car payment one time per year. I am trying to hang on to this car till i am able to refinance, short of the repo thing i thought they would be willing to work with me on this..any ideas, experience with this please let me know...thanks again

Answer: The lender and the terms of the loan agreement determine eligibility, in most cases it can only be done once a year.

Call back and speak with Honda Finance again, see if the interest rates are currently lower than what you pay and if they could refinance the car at the lower interest rate. They might do this if you have a history of good payments.

Below is a link that will also provide you with information.

http://www.edmunds.com/advice/finance/articles/140846/article.html

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