What is a payment extension?
When you defer, we’ll extend your next scheduled payment, as well as all remaining scheduled monthly payments, to give you more time. After the extension period ends, you resume making your regularly scheduled auto payments.
Will I pay more in finance charges with an extension?
Yes, if you’re financing the purchase of your vehicle, finance charges will continue to accrue on the unpaid balance at the contract rate, and by deferring one or more payments, you’ll pay more finance charges.
How will an extension work with other policies associated with my contract?
Deferring your payments won’t extend the duration of GAP, maintenance, life, or disability insurance that may be included in your contract.
What’s required to set up an extension?
You’ll need make the payment required to finalize your extension based on the amount quoted and agree to the terms.
If I set up an extension now, can I modify my contract later if I need to?
You may still be eligible for a modification after you extend. However, you’re allowed a limited number of extensions, so you should only take one when you know you really need it.
What should I do if an extension doesn’t work for my situation?
We’re here to help you find what’s best for you right now. Call 1-888-925-2559 or chat with us online to discuss other options that may be available for you.
What should I do if I can’t pay to get my extension on the day I sign up online?
Call 1-888-925-2559 or chat with us online if you want an extension but can’t make a payment when you sign up online, and we’ll try to help.
Can I still make payments during my extension if I’m able?
Yes, feel free to continue making payments during your extension to reduce finance charges. Paying during your extension won’t reverse your extension or impact its length, and it won’t affect the number of extensions you can take in the future, either.
Will you cancel Auto Pay and payments scheduled during my extension period?
A payment extension won’t cancel Auto Pay or any previously scheduled payments for you. If you don’t want these payments to process during your extension period, you’ll need to cancel them.
How to cancel scheduled payments – If you’d like to cancel your upcoming one-time payment scheduled through Ally Auto, go to your Transactions.
Auto Pay – If you’re on Auto Pay, you can go to Edit Auto Pay from Payments and select Cancel Auto Pay to stop all future recurring payments. You can re-enroll in Auto Pay or reschedule payments at the end of your extension period (or whenever you’d like).
To cancel payments scheduled through your bank – You’ll have to go through your bank to cancel these payments — you won’t be able to cancel them through Ally Auto.
If I made a payment right before I set up an extension, what should I do?
We'll base your extension on the status of your account at the time you requested it. Canceling payments that you've already scheduled could impact your account status, which may affect the length of your extension or when your next payment is due.
Will late charges apply to my account?
No, we won’t charge additional late fees during your extension period.
At what rate will my finance charges accrue, and will they be compounded over the extension period?
Finance charges will accrue at your contracted rate and aren’t compounded during the deferral period or otherwise.
When will I pay off the finance charges accrued?
When you make your first regularly scheduled payment after the extension period, it will first be applied to satisfy any accrued finance charges and then to the outstanding balance. How long it will take to pay the finance charges accrued during the extension period will depend on the amount and timing of any payments you make.
What should I do if I don’t need my extension anymore?
You can make a payment at any time during your extension, and we’ll apply it as usual to your next scheduled payment.
What happens if my payment required to set up the extension doesn’t process due to insufficient funds?
If the payment you make for your extension returns, call 1-888-925-2559 or chat with us online to discuss options to replace that payment.
Will my due date advance?
Yes, your due date will advance based on the number of months you choose to defer. You can call us or check the vehicle details section of your Snapshot for your next payment due date and amount.
Will deferring my payment impact my credit score?
Deferring your auto payment through Ally shouldn’t have a negative impact to your credit score, but it’s important to note that for most consumers, payments on auto contracts are just one of many items that impact their scores.
Will deferring my payment impact my financing rate?
No, deferring your payment won’t impact your original contracted rate.
If I’m behind on my payments, can I still sign up for an extension?
Yes, you can still sign up for an extension if your account is past due. If successful, the extension will begin with your oldest unpaid payment.
Will I receive a confirmation when my extension has been processed?
Once your extension is processed, we’ll send you an email confirming the extension and also providing further details.
When will I see my next due date and amount due?
You can check the vehicle details section of your Snapshot to view your next payment due date and amount. You’ll also receive a billing statement with that information before your next payment is due.