Skip A Pay Terms and Conditions:
1. Subject to approval.
2. *Skip Payment not available on mortgages, equity loans and lines of credit, balloon loans or certificate secured loans, checking reserve, credit rebuilder, expanded auto loans, Borrow and Save loans, LIFT loans, or Renew auto loans.
3. Accrued interest may impact final payment and/or number of payments. Some limitations may apply; loans must be current (less than one day past due date) as of time processed and have a minimum 12 months “as agreed” payment history.
4. The maximum allowed skips per eligible loan is two per calendar year. the total sum of all weekly, bi-weekly, or semi-monthly payments during one month constitute one month’s payment. No back to back Skip A Pay in consecutive months allowed.
5. If you have GAP (Guaranteed Asset Protection) coverage, skipping a payment will not extend your protection and may result in exposure to a balance due upon total loss of our vehicle.