does a deferment on your auto loan (1 or 2 months) hurt your credit?

[Stugotsv10]

what will those 1-2 months show on the report? paid as agreed?  and will it raise the balance and hurt the score?

Thanks 

[Revelate]

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@Stugotsv10 wrote:

what will those 1-2 months show on the report? paid as agreed?  and will it raise the balance and hurt the score?

Thanks 

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That really depends on what the lender reports; technically anything not paid to the terms of the original agreement could be a negative, but if the lender reports OK for each month and no remark, no problem.

Student loans seem to be able to be in deferrment without penalty (or at least long term penalty) but an auto loan in deferrment isn't standard nor expected like SL's so I can't really say one way or the other.

[CreditJourney007]

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I've deferred my car payment a few times and it's reported as "OK". My loan is w/ Capital One though. 

[Stugotsv10]

Thats actually who we have!!!

I was worried the loan amount may raise which would seem "Unusual" for an auto loan tho did that happen to you? 

[Revelate]

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@Stugotsv10 wrote:

Thats actually who we have!!!

I was worried the loan amount may raise which would seem "Unusual" for an auto loan tho did that happen to you? 

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That I can tell you isn't really a problem.

I have a history, even when I was all sorts of dirty, to pay down my auto loans aggressively and then let them float when financial concerns dictated I put money elsewhere.  Nobody paid attention back in 2012/2013 to that, and apparently no one's really worried about it now either.  

I've also done it with a number of other various loans, it just isn't a big deal.  The big thing is the deliquency notation, if that's not there, nobody worries TBH... and actually as my curious JCB experience seems to prove, nobody other than FICO even really cares about that either as long as you get righteous on the account.

[CreditJourney007]

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@Stugotsv10 wrote:

Thats actually who we have!!!

I was worried the loan amount may raise which would seem "Unusual" for an auto loan tho did that happen to you? 

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No, to be honest I don't think they care, lol. They will grant you one (if you need) once every 12 months. They just ask why you need one and how you will be able to begin paying again next month. Once I had to pay for my dog to see the vet and I was really low that month, so I was just honest, and said this trip should take care of it, so it's not an ongoing issue, and I'll have the money next month. If not, I will borrow it from someone and they said OK.