A Mazda lease is an excellent financing option if you like accessing the newest vehicles. But what do you do if you miss a payment? Hall Mazda Virginia Beach is here to help you navigate next steps when life throws you a curveball.
Contact the Dealership
To begin with, you want to determine what kind of grace period is available for late lease payments. You’ll often have between two weeks and 30 days to make up the missed payment. Reach out to the dealership to find your extension options and see if you can adjust your lease terms to better fit your budget.
Look for Late Fees
If you cannot make your lease payment within your grace period, it’s essential to watch for late fees. Several missed lease payments may also lead to early termination of the lease, which can also add on early termination fees. Even if you can’t make the payments, knowing the big picture and getting caught up as soon as possible is important.
Plan for the Future
There are other things to keep in mind. To begin with, missed payments can significantly affect your credit score, and your ability to purchase vehicles in the future. The other thing to remember is that you’ll want to plan ahead so that missed payments don’t become a habit. Make sure you’re exploring all options, especially if job loss, medical problems, or another major life event are behind your problems.
Get MAZDA Financing Support in Virginia Beach, VA
No matter what your Mazda financing needs might be, you’ll find the support you deserve at Hall Mazda Virginia Beach. We work one-on-one with drivers to help you find the right terms, so you can take home the car you love within your budget. Learn more about lease payments and your financing options at our dealership.
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