GM Financial will defer a payment, but only if you contact them before the payment is due and meet their conditions

GM Financial, the captive finance company owned by General Motors, does offer payment deferrals — which means postponing a payment you owe to a later date rather than paying it now. The key word is "contact them first." You cannot skip a payment and ask forgiveness later. You have to call before your payment date, explain your situation, and get approval before the due date passes.

When GM Financial approves a deferral, they typically move your missed payment to the end of your loan. So if you have 48 months left on your contract and you defer one payment, you may end up with 49 months of payments instead. This means you pay interest on that deferred amount for longer, which costs you more overall — but it does give you breathing room in the month you cannot pay.

The catch: GM Financial will not defer a payment if you are already behind. If your last payment is overdue, they will not let you skip the next one. You have to be current to get a deferral approved.

Key Takeaways

  • Contact GM Financial before your payment due date to request a deferral; calling after the date has passed makes approval much less likely.
  • A deferral moves your payment to the end of your loan term, meaning you pay interest on that amount for the full remaining length of the contract.
  • You must be current on all previous payments to be considered for a deferral; being behind on any payment disqualifies you.
  • GM Financial may limit how many deferrals you can use during your loan, so use them only when you truly need them.

How to request a deferral from 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. Tell them you are having trouble making your next payment and ask whether a deferral is available to you. They will pull up your account, check whether you are current, and tell you yes or no on the call.

If they approve the deferral, ask them to confirm in writing what date your deferred payment will be added to your loan and whether any fees explore. Some lenders charge a deferral fee; GM Financial's policy on this varies, so get it in writing. Also ask how many deferrals you have left on your contract — most lenders allow only one or two per loan.

Do not wait until the day the payment is due. Call at least a few days before. If you call on the due date itself, the system may have already flagged your account as late, which makes approval harder.

What happens to your payment when it is deferred

The payment does not disappear. GM Financial adds it to the back end of your loan. If your original contract was for 60 months and you have 48 months remaining when you defer a payment, your new end date becomes 49 months out. You will make one extra payment at the very end of the loan.

Because the deferred payment sits in your account longer, you pay interest on it for that extra month. This is why a deferral is not free — it costs you in interest. But the point of a deferral is not to save money; it is to move money around when you do not have it right now.

When GM Financial will and will not defer

GM Financial will consider a deferral if you are current on your loan. "Current" means you have made all payments on time up to now. If you are even one payment behind, they will not defer the next payment — they will want you to catch up first.

They will also not defer if you are in active default or if your account is in collections. If you have missed multiple payments or if GM Financial has already started repossession proceedings, a deferral is off the table.

Some loan types may have restrictions too. If your loan is through a third-party lender that GM Financial sold your contract to, you may need to contact that lender instead. Ask GM Financial whether your loan is still in their portfolio or whether it was sold.

Alternatives if a deferral is not available

If you cannot get a deferral — because you are behind, or because you have used up your deferrals — ask GM Financial about a loan modification. This is different from a deferral. A modification changes the terms of your loan itself, usually by lowering your monthly payment or extending the loan term. It is harder to get approved for, but it is worth asking about if you are struggling with the payment amount itself rather than just having a temporary cash shortage.

You can also ask about a forbearance agreement, which temporarily pauses or reduces your payments for a set period (usually 3 to 6 months). Forbearance is typically available only if you can show a specific hardship — job loss, medical emergency, natural disaster — and it usually requires documentation. But if you may have access to, it gives you more time than a single deferral.

If none of those work and you are facing repossession, contact a credit counselor through the National Foundation for Credit Counseling (NFCC) at 1-800-388-2227. They can sometimes negotiate with lenders on your behalf at no cost to you.

How a deferral affects your credit report

A deferral that you arrange before your payment is late does not show up on your credit report as a missed payment. From the credit bureau's perspective, you made an arrangement with your lender and you are still current. Your credit score should not take a hit.

However, if you miss the payment first and then ask for a deferral after the fact, the late payment may already be reported to the credit bureaus. Once it is reported, a deferral will not erase it. The late mark stays on your report for seven years, even though you eventually caught up.

This is why timing matters so much: call before the due date, not after.

What to do if GM Financial denies your deferral request

If they say no, ask why. The reason matters. If it is because you are behind on payments, ask what you need to do to get current and then become may be able to access for a deferral. If it is because you have used all your deferrals, ask what other options exist — loan modification, forbearance, or a payment plan.

If you believe they made an error — for example, if they say you are behind when you believe you are current — ask them to send you a written statement of your account status. Request a copy of your payment history. Sometimes there is a processing delay and a payment they say is late is actually in the system but not yet posted.

If you still disagree, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. The CFPB investigates complaints against lenders and can sometimes push them to reconsider.

Frequently Asked Questions

Can I defer a payment if I am already one month behind?

No. GM Financial requires you to be current on all previous payments before they will defer a future one. If you are behind, you need to catch up first or work out a different arrangement like a payment plan or forbearance.

How many times can I defer a payment with GM Financial?

This varies by loan. Most lenders allow one or two deferrals per contract, but some allow more. When you call to request a deferral, ask the representative how many you have left on your account. Once you know the limit, use them only when you truly need them.

Will deferring a payment make my loan longer?

Yes. A deferral adds one month to the end of your loan term. If you have 48 months left and you defer one payment, you will have 49 months of payments remaining. You will also pay interest on that deferred amount for the extra month.

What is the difference between a deferral and forbearance?

A deferral moves one payment to the end of your loan. Forbearance pauses or reduces your payments for several months, usually 3 to 6. Forbearance typically requires proof of hardship and is harder to get, but it gives you more breathing room if you need it.

If I defer a payment, will it hurt my credit score?

Not if you arrange it before the payment is due. A deferral you set up in advance does not count as a late payment. But if you miss the payment first and ask for a deferral after, the late mark may already be on your credit report and will stay there for seven years.