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Late Car Payments

Posted by on Apr. 13, 2011 at 11:58 AM
  • 11 Replies

I have never made my car payment late before so I don't know how much to pay.

The coupon book says $309.70 if received on or before April 14 then it says $325.19 if received after April 25

What if I pay it between the 15th and the 24th? Do I still owe the late fee or do I just owe the $309.70? I am going to pay it online Friday April 15th. Thanks

by on Apr. 13, 2011 at 11:58 AM
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Replies (1-10):
Jemmy
by Platinum Member on Apr. 13, 2011 at 11:59 AM
Pay the regular but don't wait til the 24th to send it cuz it may not process until after the 25th and then you'd still owe a fee.
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SuperPickle
by Ruby Member on Apr. 13, 2011 at 12:00 PM

I would pay the "late" amount just to be sure, our company does not charge the late fee until 10 days late so if yours is the same that extra would just go to the principal.

my_three_sons
by on Apr. 13, 2011 at 12:02 PM

I would just pay the regular amount.

kat7082
by on Apr. 13, 2011 at 12:05 PM

So it's not I will lose the extra $15 if I send it and I don't need to? That's good.  They will just give me an extra credit?

Quoting SuperPickle:

I would pay the "late" amount just to be sure, our company does not charge the late fee until 10 days late so if yours is the same that extra would just go to the principal.


SuperPickle
by Ruby Member on Apr. 13, 2011 at 12:07 PM

Nope....We routinely add at least an extra $100 to our car payment. The more you can add to the principal the earlier you can payoff  and the more you save in interest.

Check your terms just to be sure...SOME places dont allow for early pay off but most common financing does.

Quoting kat7082:

So it's not I will lose the extra $15 if I send it and I don't need to? That's good.  They will just give me an extra credit?

Quoting SuperPickle:

I would pay the "late" amount just to be sure, our company does not charge the late fee until 10 days late so if yours is the same that extra would just go to the principal.



Tiffany3949
by on Apr. 13, 2011 at 12:10 PM

 What I was told was if it is after the late date you can take it directly to the bank (during the grace period i.e. april 25) it is still only the $309. I just had to figure that out myself because I forgot to send mine in then my son got hospitalized so I wasnt able to take it in on the due date. It was the first time I have ever been late =/

kat7082
by on Apr. 13, 2011 at 12:13 PM

Our finance company is in another state so I can't take it in but I will be paying it online 1 day after it is due.

Quoting Tiffany3949:

 What I was told was if it is after the late date you can take it directly to the bank (during the grace period i.e. april 25) it is still only the $309. I just had to figure that out myself because I forgot to send mine in then my son got hospitalized so I wasnt able to take it in on the due date. It was the first time I have ever been late =/


bxbsmommy
by on Apr. 13, 2011 at 12:20 PM

Any time before April 25th pay the regular amount.  My car payments are due the same time as yours. As a matter of fact this month is my last one!

swaney06
by on Apr. 13, 2011 at 12:21 PM

pay the regular..they give you a grace period

kat7082
by on Apr. 13, 2011 at 12:35 PM

YEAHHH I can't wait for that day.

Quoting bxbsmommy:

Any time before April 25th pay the regular amount.  My car payments are due the same time as yours. As a matter of fact this month is my last one!


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