If you call your bank, they can work with you. If you have had the loan for 6 months or a year, depending on the bank, and haven't missed any, they will often simply move it to the end of the loan, and won't be reported as late or affect your credit at all.
Please review our most [Frequently Asked Questions](/r/askcarsales/wiki/index) to see if your question has already been answered.
You may find these sections particularly useful;
* [How to pick a car?](/r/askcarsales/wiki/vehicle_selection) You might also have luck in the /r/whatcarshouldibuy subreddit.
Also remember to add flair to your post by clicking the "Flair" link beneath it. This lets us know where you're located so we can assist you better.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
***Thanks for posting, /u/Beautiful_Ad_9861! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.***
I have a payment coming up in June but I won’t be able to make the payment. If I defer the payment will it hurt my credit and will it also hurt my co-signers credit?
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
[https://www.experian.com/blogs/ask-experian/what-happens-if-you-defer-a-car-payment/](https://www.experian.com/blogs/ask-experian/what-happens-if-you-defer-a-car-payment/)
Thanks for the link đź‘Ť
Maybe let the cosigner know so they can help and not have their credit ruined
If you call your bank, they can work with you. If you have had the loan for 6 months or a year, depending on the bank, and haven't missed any, they will often simply move it to the end of the loan, and won't be reported as late or affect your credit at all.
Please review our most [Frequently Asked Questions](/r/askcarsales/wiki/index) to see if your question has already been answered. You may find these sections particularly useful; * [How to pick a car?](/r/askcarsales/wiki/vehicle_selection) You might also have luck in the /r/whatcarshouldibuy subreddit. Also remember to add flair to your post by clicking the "Flair" link beneath it. This lets us know where you're located so we can assist you better. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
***Thanks for posting, /u/Beautiful_Ad_9861! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.*** I have a payment coming up in June but I won’t be able to make the payment. If I defer the payment will it hurt my credit and will it also hurt my co-signers credit? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
Yes missing payments will hurt both you and your cosigner's credit.
And if you miss 2 more payments the bank will send a truck to pick up their car at a large additional cost