Financing a vehicle is a great way to get the car you need without spending a lot of money up-front. Of course, to keep your vehicle, you will have to be diligent about making your monthly payments. If you miss a payment, it’s essential to take quick action, and these tips from our Mazda finance department can help you avoid more problems down the road.
Make the Payment Right Away
Your car payment is probably one of several bills you have every month, so forgetting about it can be easy. When you realize that you missed it, the first thing to do is make it as soon as possible. Some lenders have a one-time forgiveness policy for late payments, so you may not have to worry about late fees or additional interest.
Get in Touch with the Lender
If you can make the payment within the grace period, you might not need to do anything else. If you cannot make this payment immediately, however, you will want to contact your lender and explain what’s happening. Leaving your lender in the dark about the situation is the worst thing you can do.
Use Auto Pay
Anything that makes it easier to remember to pay your monthly payments should be used, and auto pay certainly falls into this category. You’ll never risk missing a car payment when money is automatically taken out of your account.
If you’re struggling to make your car payments, it could be time to consider a less expensive vehicle. Contact Cook Mazda in Aberdeen for trustworthy answers to all of your car leasing and ownership questions.
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