GM Financial's Skip-a-Payment Option

GM Financial does offer a skip-a-payment program, but only for customers who meet specific conditions. The program allows you to postpone one monthly payment, which is then added to the end of your loan term rather than forgiven. You must contact GM Financial directly to request this—it is not automatic, and the company evaluates each request based on your account history and current loan status.

The program is designed for temporary hardship, not permanent payment reduction. If you are behind on payments, facing a job loss, or experiencing a sudden expense, GM Financial may work with you, but approval is not may provide. The company prioritizes customers with otherwise good payment records.

Because GM Financial's policies can change and vary by state, you should call their customer service line directly at the number on your loan statement or bill to ask whether skip-a-payment is currently available and what you need to provide to request it.

Key Takeaways

  • GM Financial's skip-a-payment program postpones one payment by moving it to the end of your loan, not erasing it.
  • You must request the program by phone—it does not happen automatically and requires approval based on your account status.
  • The program is intended for temporary hardship and is more likely to be approved if you have a history of on-time payments.
  • Approval timelines and exact terms vary, so contact GM Financial directly using the number on your statement to learn current details.

How the Skip-a-Payment Process Works

When GM Financial approves a skip-a-payment request, your next scheduled payment is deferred. That payment amount is then added to your final loan payment or spread across the remaining months of your loan, depending on how much time is left. You do not pay that month, but you do pay it eventually—the total interest you owe may also increase slightly because the loan extends longer.

The approval process typically takes a few business days. You will need to call GM Financial's customer service line and explain your situation. Have your account number, loan details, and a clear reason for the request ready. The company will review your payment history and current balance to decide whether to approve.

Once approved, you will receive written confirmation by mail or email showing the new payment schedule. Do not assume the skip is active until you have that confirmation in hand. Missing a payment without approval will damage your credit and may trigger late fees.

Who Qualifies for GM Financial's Skip-a-Payment

GM Financial is more likely to approve skip-a-payment requests from customers who have made payments on time for several months before requesting the deferral. If you are already late on your loan, the company may still work with you, but skip-a-payment is not the typical solution—they may instead offer a loan modification or payment plan.

You generally cannot use skip-a-payment if you are in default, if your vehicle is at risk of repossession, or if you have already used the program recently. GM Financial limits how often you can defer payments, though the exact frequency is not publicly stated and may depend on your individual situation.

Customers with subprime loans (higher interest rates due to lower credit scores) may face stricter approval standards. If you have questions about whether you meet the criteria, ask during your call to customer service—they can tell you before you formally request the deferral.

What Happens to Your Loan After You Skip a Payment

Your loan term extends by one month when you skip a payment. If you originally had 60 months remaining, you now have 61. This means you will be making car payments for one month longer than planned, and the total interest you pay over the life of the loan will increase slightly.

The skipped payment does not appear as a missed payment on your credit report if GM Financial approves the deferral in advance. However, if you miss a payment without approval, it will show as late and harm your credit score. This is why written confirmation is essential—it proves the skip was authorized.

Your vehicle title and loan terms otherwise remain unchanged. You still own the car (or GM Financial still holds the lien), and you are still responsible for insurance, registration, and maintenance.

Alternatives If GM Financial Denies Your Request

If GM Financial will not approve skip-a-payment, ask about a loan modification or payment plan. A modification can lower your monthly payment by extending the loan term or, in rare cases, reducing the interest rate. A payment plan lets you catch up on missed payments by adding a portion of the arrears to your regular payment over several months.

If you are facing a longer hardship, refinancing with a different lender may lower your monthly payment, though this requires a credit check and approval. Some credit unions and banks offer better rates than GM Financial, especially if your credit has improved since you took out the original loan.

If you cannot afford the car, you can also return it to GM Financial voluntarily (called a voluntary surrender). This stops the payments but damages your credit and may leave you owing the difference between what the car sells for at auction and what you still owe on the loan. Explore other options first.

How to Contact GM Financial About Skip-a-Payment

Call the customer service number on your loan statement or monthly bill. This is the fastest way to find out whether skip-a-payment is available and to request it. Have your account number, the last four digits of your VIN, and your reason for the request ready before you call.

You can also log into your GM Financial online account to see whether there is a message or option to request a deferral, though phone contact is usually required to complete the process. If you prefer written communication, ask the customer service representative whether you can submit a written request by mail.

Response times vary. Some requests are approved within 24 to 48 hours; others take up to a week. Do not assume your skip is approved until you receive written confirmation. If you do not hear back within a week, call again to follow up.

Frequently Asked Questions

Will skipping a payment hurt my credit score?

No, if GM Financial approves the skip in advance. An approved deferral does not appear as a missed payment on your credit report. However, if you miss a payment without authorization, it will damage your score. Always get written confirmation before skipping a payment.

Can I skip more than one payment?

GM Financial typically allows only one skip per year or per loan cycle, though this varies by account. Some customers may be able to defer two payments in extreme hardship situations, but this is rare. Ask during your call whether multiple skips are possible in your case.

What if I already missed a payment and did not contact GM Financial?

Call immediately. If you are only a few days late, you may still be able to bring the account current without penalty. If you are 30 days or more behind, GM Financial may offer a catch-up plan instead of skip-a-payment. The sooner you contact them, the more options you have.

Does the skipped payment add interest?

Yes, because your loan extends one month longer, you will pay slightly more interest overall. The exact amount depends on your interest rate and remaining balance. Ask GM Financial to calculate the additional cost before you approve the skip.

Can I skip a payment if I am leasing instead of financing?

GM Financial handles both loans and leases, but skip-a-payment programs for leases work differently and may not be available. If you are leasing, ask specifically whether a payment deferral is an option for your lease agreement.