Take a break from your monthly loan payment with our Skip-a-Pay program
Everyone deserves a break. Some people see this as a break from work, but we see it as a break from your monthly loan payments. Our Skip-a-Pay program allows you to skip a loan payment and use the money for anything else you want or need. Skipping your loan payment will not affect your credit score.
When can I skip a loan payment?
You can skip a payment on your eligible Arsenal loan any month of the year (once every 12-month period). You can skip a loan payment once per year for up to five years. Just let us know in advance of your payment due date.
Loans eligible for the Skip-a-Pay program include auto, motorcycle, RV and personal loans.
How much does it cost to skip a loan payment?
The processing fee for each loan you skip is 10 percent of the monthly loan payment amount. For example, you would pay $15 to skip a monthly payment of $150. For loan amounts that are $500 or greater, it’s a flat $50 fee.
How do I skip a loan payment?
Send us an email or start a live chat and we will help get you started on your Skip-a-Pay. You can also call or visit your closest branch for more information.