What to Do if You Miss a Buick Lease Payment
Have you secured a Buick lease from McGuire Buick GMC? While a lease undoubtedly offers benefits, it can come with risks too. You must ensure that you are financially prepared to make regular, on-time payments.
What Happens if I Miss My Payment?
If you miss your lease payments, the lending institution you lease from has the right to repossess your Buick SUV. You could also face an early termination fee if you default on your lease, which can be substantial.
There should be a detailed explanation of what happens if you default on your lease in your contract. Remember that your credit can also be affected if you miss a payment and will certainly be if you default on your lease.
How Long Do I Have to Make a Lease Payment?
Your lease contract should include your monthly lease payment due date. Leases often have a grace period if you can’t make your payment in time. Typically, a grace period is ten days after the due date.
What Should I Do if I Miss My Payment?
If you miss your lease payment or know you won’t be able to make one in time, it’s essential to contact your lender as soon as possible. You may have an opportunity to make up your payment or have it deferred.
More often than not, lenders want to do what they can to work with you. Just make sure you communicate with them and have a plan for making the payment as soon as possible (and stick to it).
Still have questions? We encourage you to visit our Buick dealership in Little Falls, NJ, to chat with our team about your options. See us today!
What Happens if I Miss My Payment?
If you miss your lease payments, the lending institution you lease from has the right to repossess your Buick SUV. You could also face an early termination fee if you default on your lease, which can be substantial.
There should be a detailed explanation of what happens if you default on your lease in your contract. Remember that your credit can also be affected if you miss a payment and will certainly be if you default on your lease.
How Long Do I Have to Make a Lease Payment?
Your lease contract should include your monthly lease payment due date. Leases often have a grace period if you can’t make your payment in time. Typically, a grace period is ten days after the due date.
What Should I Do if I Miss My Payment?
If you miss your lease payment or know you won’t be able to make one in time, it’s essential to contact your lender as soon as possible. You may have an opportunity to make up your payment or have it deferred.
More often than not, lenders want to do what they can to work with you. Just make sure you communicate with them and have a plan for making the payment as soon as possible (and stick to it).
Still have questions? We encourage you to visit our Buick dealership in Little Falls, NJ, to chat with our team about your options. See us today!
