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Sandy victims defer car payments

By Tara Baukus Mello ·
Friday, November 9, 2012
Posted: 5 pm ET

If you've experienced a hardship as a result of Superstorm Sandy, you may be able to get your car payment deferred.

Ford Credit and Nissan Motors Acceptance Corp. have announced they will offer payment extensions to Sandy victims. Ford is offering extensions of one or two months, depending on the situation. Nissan customers may be able to defer a car payment for up to three months.

While these are the only automakers to make specific offers publicly, the lending arms of many other automakers have said that customers experiencing financial challenges as a result of Superstorm Sandy should call to discuss their situations and their options.

While there may be many other issues to deal with as a result of damage from Sandy, affected people should reach out to their creditors quickly to apprise them of financial challenges. Even missing one car payment can affect your credit score, which could cause further financial implications for consumers who need to replace a car damaged by the storm and get a new car loan.

Tara Baukus Mello writes the cars blog as well as the weekly Driving for Dollars column, providing both practical financial advice for consumers as well as insight into the latest developments in the automotive world. Follow her on Facebook here or on Twitter @SheDrives.

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