Will it affect my credit if I make my car loan payment late?

Question

Only by 4 days. Is there a grace period or is anyday after the due date considered late? Will this reflect on my credit? (it was due friday and I paid it tuesday?)

Answer 1

Call the company that issued your loan and ask them. We would just be speculating. Not all companies report for a few days late - they just collect a late fee. Plus, as you said, some companies do have a grace period. Best to get this answer right from the horse's mouth if you want an accurate answer and peace of mind.

Good luck, hon.

Answer 2

Yes, but only if you are more then 30 day late after the payment. If you are more then 7-15 days late the company that holds the loan can hit you with a fine, or penilty.

Howerver the payment would have to be at least 30 days past due for them to report you to the credit agency.

If you go back to the same company for a loan for your next car, they may hold that agains you though.

Answer 3

Pnc Bank Auto Loan Payment

Answer 4

Pnc Auto Loan Payment

Answer 5

Late payments of a few days will not affect your credit score/history. The loan company will not even mark it against your credit history, but they will charge you a late fee. If you normally pay on time, you can usually call customer service to request them to reverse the late charges. Only try this if you always pay on time.

Answer 6

It depends on the grace period you have. Make sure to check with the company you have the loan with.

Usually, it goes by "30 days late" but on loans and credit card payments you should always try to make those on time because they do show up on your credit and they will charge you a hefty fee for being one day late.

Answer 7

It will not lower you credit score because the earliest someone can turn a bad report in is 30 days but that being said if you go for another loan at this same place they will know you were late. I wouldnt worry about it though, its only 4 days.

Answer 8

All late payments affect your credit history but I beleive is only if you are more than 30 days late...but I may be wwrong about number of days.

Answer 9

Late payments only get reported to the credit bureaus if they are more than 30 days passed due. Technically they can repo the car if you are one day late - so no one can give a clear answer about repos Start paying two weeks ahead if you can

Answer 10

It may be considered late, but the first violation doesn't usually result in a negative impact on your credit score. You can also call your lender and let them know it is late and ask them to accept it. I have had it happen on occassion when I've moved or been gone for extended periods and something slips through the crack. I have never had them tell me no and my credit score is excellent.