Payment solutions for your auto loan

Forbearance on your auto loan and steps to follow

We offer the following alternatives for repaying your auto loan if your financial situation has been affected by the emergency caused by COVID-19.

Through this new digital tool, you can request a forbearance that will allow you to postpone up to four (4) loan payments to ease your financial burden during this emergency. Below, we describe the steps you need to take to complete your application and be evaluated:

  • Read carefully the forbearance’s terms and conditions.
  • Pay attention to the disclosures for customers with Payment/Direct Debit or TelePago Popular® automatic payments and the those related to auto and credit insurance.
  • Enter your information and describe the financial circumstances that motivate your request.
  • Confirm your acceptance of the terms and conditions.
Important:

If you have more than one auto loan, you must complete an application for each loan.

If you are in an active bankruptcy procedure or received a discharge, you acknowledge and accept that the communications with Popular Auto, in connection with this request, do not constitute a collection effort or impose personal responsibility on the collection of the debt. It is important that you consult with your attorney to clarify any questions about the effect the forbearance will have on your payment plan and/or provide the necessary information to comply with any requirement or order of the Court.

Disclosures

Automatic Payments / Direct Debit and TelePago Popular®

If you have Automatic Payment / Direct Debit or TelePago Popular® scheduled, once we confirm your eligibility and approve the forbearance, you expressly authorize us to DEACTIVATE the Automatic Payment / Direct Debit or TelePago Popular® scheduled for payments on your loan during the forbearance period. You also authorize us to REACTIVATE Automatic Payments / Direct Debit or TelePago® Popular at the end of the forbearance period under the terms of the original authorization. Your express authorization to reactivate automatic payment includes the payments during the extended period at the end of the loan. If your application approval date and time occurs within 5 days of the scheduled payment, we may not be able to stop the Automatic Payment / Direct Debit or TelePago® Popular on time. If this happens, you must contact us at 787-792-9282 or 1-800-981-9282 and ask for it to be reversed, as well as any charges that may be assessed due to insufficient funds.

IMPORTANT NOTICE:

If your account payment has been scheduled in Telepago Popular® to be debited from someone else's account, we will not be able to reactivate it when the forbearance ends. If you agree to the forbearance, you must notify this third party that they must make the necessary arrangements to reactivate the Telepago Popular®, either through the Mi Banco Online application or by calling TeleBanco Popular®, when the time comes to resume your payments.

 

Forbearance Application

 
 

Please complete the following information:

Confirmation Message

Your information was sent successfully.

Thank you. We confirm that you have accepted that once Popular confirms your eligibility for the auto loan forbearance, it will proceed to implement it subject to the terms and conditions that you accepted. If your application is approved, the forbearance will be understood as duly documented and accepted for all pertinent purposes. Your digital acceptance is equivalent to a written authorization for all corresponding practical and legal effects.

If you have more than one auto loan, you must complete an application for each loan.

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