Is it a federal regulation on vehicle loans to only be allowed two payment deferrals in five years?
There is no such federal regulation. Lenders, of course, are not required to allow borrowers to defer or skip payments on loans. Many lenders, however, recognizing that borrowers can use a break once in a while, have established skip payment programs in which one or more payments can be deferred. Often such programs respond to local economic events like job layoffs.
There are federal, and perhaps state, regulations on how the deferrals are disclosed and processed, but there aren't limits on the number of deferrals that are permitted in the life of a loan. Any such restrictions are likely to be part of a lender's policy, designed to prevent abuse of the lender's program for deferring payments.
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There is no such federal regulation. Lenders, of course, are not required to allow borrowers to defer or skip payments on loans. Many lenders, however, recognizing that borrowers can use a break once in a while, have established skip payment programs in which one or more payments can be deferred. Often such programs respond to local economic events like job layoffs.