Credit Acceptance will defer a payment, but only under specific conditions and for a limited time
Credit Acceptance, a subprime auto lender, does offer payment deferrals—but not as a standing policy you can request whenever you need one. A deferral means pushing your next payment to the end of your loan term rather than skipping it or paying it late. The company handles deferrals on a case-by-case basis, usually only when you contact them before a payment is due and can show financial hardship. If approved, you typically get one deferral per loan, and the deferred amount gets added to your final balloon payment or spread across remaining payments.
The process is not automatic. You must call Credit Acceptance's customer service line and speak to a representative—there is no online deferral request form. The company will ask about your situation, verify your account status, and decide whether to grant the deferral. Approval depends partly on your payment history and how far into the loan you are. If you have already missed payments or are behind, a deferral becomes much harder to obtain.
Key Takeaways
- Credit Acceptance deferrals are not may provide and require you to call customer service and explain your hardship before the payment due date.
- A deferral postpones one payment to the end of your loan term; the amount does not disappear but gets added back into what you owe.
- You are unlikely to receive a deferral if you have already missed payments or are behind on your account.
- The company typically grants only one deferral per loan, so using it strategically matters if you know a hardship is temporary.
How the deferral request works in practice
Call Credit Acceptance's customer service number (found on your loan documents or billing statement) at least a few days before your payment is due. Have your account number and loan details ready. Explain your situation clearly—job loss, medical emergency, temporary income reduction—and be specific about timing. The representative will pull up your account history, check your payment record, and either approve or deny the request on the call or within one to two business days.
If approved, the company will send you written confirmation showing the new payment schedule. Your deferred payment will not appear on your credit report as a missed payment, which is the main advantage of a deferral over straightforward not paying. However, you are still responsible for that money; it does not vanish. Credit Acceptance will either add it to your final payment, extend your loan by one month, or redistribute it across your remaining payments—the exact method depends on your loan structure and how much time is left.
When Credit Acceptance will and will not defer
The company is most likely to defer a payment if you have a clean payment history, are current on your account, and can articulate a temporary hardship. Examples that work: a one-time medical bill, a brief job transition, an unexpected car repair that temporarily strains cash flow. The hardship should sound temporary, not permanent—if you say you have lost your job and have no income, the company may assume you cannot pay at all and may decline.
Credit Acceptance will almost certainly refuse a deferral if you are already late on a payment, have missed payments in the past, or are in default. The company also will not defer if you are near the end of your loan term (within a few months of payoff), because there is nowhere to push the payment to. If you have already used your one deferral, you cannot request another one on the same loan.
What happens to the deferred amount
The deferred payment does not disappear—it gets added to your loan balance. If your loan has a balloon payment (a large lump sum due at the end), the deferred amount typically rolls into that balloon. If your loan is a standard installment loan with equal monthly payments, Credit Acceptance may add one extra payment to the end of your term or spread the deferred amount across your last few payments.
This matters because it changes what you owe at the end. If you were planning to pay off the loan in full by a certain date, a deferral extends that timeline by one month or adds to your final payment. Before you agree to a deferral, ask the representative exactly how it will be applied to your loan so you understand the total cost and timing.
Alternatives if Credit Acceptance denies your deferral request
If the company refuses a deferral, you have a few other options. Some Credit Acceptance loans come with skip-a-payment programs built into the contract—check your loan documents to see if yours does. A skip differs from a deferral: it lets you miss one payment without penalty, but the payment still gets added to your loan balance at the end.
If you are facing a longer hardship, contact Credit Acceptance about a loan modification. This is different from a deferral and involves restructuring your loan—lowering your monthly payment by extending the term, for example. Modifications are harder to obtain than deferrals and require more documentation, but they can help if your income has permanently changed.
If you cannot reach an agreement with Credit Acceptance and are at risk of default, look into credit counseling through a nonprofit agency like the National Foundation for Credit Counseling (NFCC). A counselor can sometimes negotiate with the lender on your behalf and help you understand your options.
Timing and documentation you will need
Call as soon as you know you will have trouble making a payment—do not wait until the payment is due or overdue. Credit Acceptance is more likely to work with you if you reach out proactively. Have your account number, the due date of the payment you want to defer, and a brief explanation of your situation ready.
The company may ask for documentation of hardship, depending on the circumstances. A job loss letter, medical bill, or bank statement showing reduced income can strengthen your case. You do not need to provide these documents to request a deferral, but having them available speeds up the process if the representative asks.
How a deferral affects your credit report
A granted deferral does not show up on your credit report as a late payment or delinquency. From the credit bureau's perspective, your account remains current. This is the key difference between a deferral and straightforward missing a payment—your credit score is protected.
However, if Credit Acceptance denies your deferral request and you miss the payment anyway, that missed payment will be reported to the credit bureaus after 30 days of nonpayment. A single 30-day late payment can lower your credit score by 100 points or more, depending on your current score and credit history. This is why requesting a deferral before the payment is due matters so much.
Frequently Asked Questions
Can I request a deferral online or through the mobile app?
No. Credit Acceptance requires you to call customer service to request a deferral. There is no online form or app feature for this. You must speak to a representative who can review your account and make a decision.
What if I have already deferred a payment once—can I defer again?
Most Credit Acceptance loans allow only one deferral per loan. If you have already used yours, the company will not grant another one. Plan your deferral carefully if you know you may face multiple hardships during your loan term.
Does a deferral mean I do not have to pay that money back?
No. A deferral postpones the payment, not erases it. The amount gets added to your loan balance and will be due at the end of your loan term, either as part of a balloon payment or spread across your remaining payments. You still owe the full amount.
How long does it take to get approval for a deferral?
Credit Acceptance often approves or denies deferrals on the phone during your call. If the representative cannot decide when ready, you will hear back within one to two business days. Written confirmation arrives by mail or email within a few days after approval.
What happens if I miss a payment while waiting for deferral approval?
If you miss the payment before the deferral is approved, it will be reported as late to the credit bureaus. This is why you must call before the due date, not after. If approval takes longer than expected, ask the representative to note your request in your account file so the company does not report the payment as late while your request is pending.