GM Financial does offer payment deferral, but not a formal skip-a-payment program

GM Financial does not have a published "skip a payment" option the way some lenders do. What they offer instead is payment deferral—a process where you postpone your next payment and add it to the end of your loan. The difference matters: skipping means you don't pay that month and owe nothing extra. Deferral means you still owe it, just later.

If you are facing a temporary cash shortage, GM Financial's approach is to work with you on rescheduling rather than erasing a payment. You contact them directly to request a deferral, and if approved, that month's payment gets added to your final payment or spread across remaining payments. This keeps you current on your loan while giving you breathing room.

The process is not automatic. You have to call and ask, and approval depends on your account history and current situation. GM Financial reviews each request individually rather than offering it as a standing program you can use whenever you want.

Key Takeaways

  • GM Financial offers payment deferral, which postpones your payment to the end of your loan, rather than a skip-a-payment program that lets you miss a month with no consequence.
  • You must contact GM Financial directly by phone to request a deferral; there is no online option or automatic process.
  • A deferred payment is added to your loan balance or spread across remaining payments, so you still owe the full amount.
  • Approval is not may provide and depends on your payment history and the reason for your request.

How to request a payment deferral with GM Financial

Call GM Financial's customer service line at 1-888-GM-LOANS (1-888-465-5267). Have your account number and loan details ready. Explain that you need to defer your next payment and describe your situation briefly—temporary job loss, unexpected expense, medical bill, or whatever applies. They will ask about your payment history and whether you have deferred payments before.

The representative will tell you on the call whether a deferral is possible. If approved, they will explain exactly how the deferred amount will be handled: whether it rolls into your final payment, gets spread across your last few payments, or extends your loan by one month. Get the details in writing or take notes, because the terms vary.

Do not assume you can defer multiple months in a row. Most lenders, including GM Financial, limit deferrals to once per year or once per loan term. If you need help beyond one deferral, ask about other options like loan modification or refinancing.

What happens to your loan timeline and interest

When you defer a payment, your loan does not end on the original date. If you were supposed to finish paying in 48 months and you defer one payment, you now finish in 49 months. That extra month means you pay additional interest on the deferred amount.

The exact interest cost depends on your loan's interest rate and remaining balance. A $400 payment deferred for one month at 6% annual interest costs roughly $2 in extra interest. At 10%, it costs roughly $3.33. These are small amounts, but they are real costs you should understand before requesting a deferral.

Your credit report will not show a missed payment if you complete the deferral as agreed. The payment is postponed, not skipped, so your payment history stays clean. However, if you defer and then fail to make the rescheduled payment, that becomes a late payment on your credit record.

When GM Financial may deny a deferral request

GM Financial is more likely to deny a deferral if you have already missed payments or have a history of late payments. A clean payment record—on time for the life of the loan—makes approval much more likely. If you are already behind, they may ask you to catch up before considering a deferral.

If you have already used a deferral recently, a second request in the same year may be denied. Some lenders allow one deferral per loan; others allow one per year. Ask specifically what their policy is when you call.

Lenders also consider the reason for your request. A temporary hardship—a job loss you expect to recover from, a one-time medical expense—is viewed more favorably than a chronic inability to pay. Be honest about your situation, but frame it in terms of when you expect to be able to resume normal payments.

Alternatives if deferral is not an option

If GM Financial denies a deferral, ask about loan modification. This is a permanent change to your loan terms—lowering your monthly payment by extending the loan, for example. It is more formal than a deferral and requires approval, but it can help if you are struggling with the current payment amount long-term.

Another option is refinancing. If your credit score has improved since you took out the loan, or if interest rates have dropped, you may be able to refinance with GM Financial or another lender at a lower rate or longer term. This gives you a new loan that pays off the old one, and you can adjust the monthly payment in the process.

If you are facing genuine hardship—job loss, medical emergency, divorce—ask GM Financial about hardship programs. Some lenders have formal programs for borrowers in crisis. GM Financial's customer service can tell you what options exist for your specific situation.

How to prepare before you call

Gather your loan documents and account information before calling. Have your account number, current loan balance, monthly payment amount, and original loan term ready. Know the date of your next payment and how many payments you have left.

Write down the reason you need a deferral and when you expect to be able to resume normal payments. Be specific: "I lost my job and expect to return to work in six weeks" is more persuasive than "I am having money trouble." Lenders want to know the problem is temporary and you have a plan to fix it.

If you have deferred a payment before, know when that was and how it was resolved. If you have missed payments in the past, be prepared to explain what happened and why it will not happen again.

Frequently Asked Questions

Can I skip a payment with GM Financial without calling?

No. GM Financial does not offer an online or automated skip-a-payment option. You must call customer service to request a deferral. Skipping a payment without approval will be treated as a missed payment and reported to credit bureaus.

Will deferring a payment hurt my credit score?

No, as long as you complete the deferral as agreed. A deferred payment is not a missed payment. Your credit report will show on-time payments. However, if you defer and then fail to make the rescheduled payment, that becomes a late payment and will damage your credit.

How long does it take to get approval for a deferral?

Most decisions happen during the phone call. The representative can tell you yes or no when ready based on your account history. You do not have to wait days or weeks. If they need more information, they will tell you what they need and when to expect a decision.

What if I need to defer more than one payment?

Ask GM Financial directly about their policy. Most lenders allow one deferral per year or one per loan term. If you need to defer multiple payments, you may need to explore loan modification or refinancing instead, which are designed for longer-term payment struggles.

Does the deferred payment get added to my final payment or spread out?

It depends on GM Financial's decision and your loan structure. Some add it to the final payment; others spread it across your last few payments or extend your loan by one month. Ask the representative to specify exactly how your deferred amount will be handled before you agree.