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my loan is usually late but I always pay it.

8 Comments »

1. 

   They wont repo your car for being late every month. But, if you miss november, then pay december, january, february, and miss march, they will repo your car for missing two payments. (Depending on how strict your bank is and how your credit stands). If you’ve skipped a month in the past, start paying a little extra each month to cover it.

   Comment by HYDRA_SH0CK — June 30, 2011 @ 11:27 pm

2. 

   Is it just a day or two late when you pay it, or is it more like a couple months late and you have missed a couple payments.

   Comment by koolndagang — June 30, 2011 @ 11:27 pm

3. 

   Your car loan can’t be late. Only your payments can be late. And I seriously doubt that your car will be repossessed because you pay late every month. Your credit history will simply list you as a late payer.

   Cars are usually repossessed from people who don’t pay at all. I don’t think you have anything to worry about. Except for the little smear on your credit record.

   Comment by Old Guy — June 30, 2011 @ 11:27 pm

4. 

   They will only repo when you miss payments. Being late won’t get you repo’d but will hurt your credit pretty bad.

   Comment by jay — June 30, 2011 @ 11:27 pm

5. 

   They won’t repossess your car for making late payments, but they will report it to the credit agencies and it will reflect in your credit score. If you are having trouble paying it on time, contact your loan company and ask them if you can change your due date, most will let you do this if you explain the situation; your paycheck comes later or whatever your case is.

   You’ll want to check these guys out…..

   http://www.123thebest.info/go.php?link=auto

   Best wishes

   Comment by Lauren B — June 30, 2011 @ 11:27 pm

6. 

   if you completely miss some of your payments, yes they can, but just a few days late, no. however, it can affect your credit report if you constantly go past your grace period.

   Comment by Cynthia D — June 30, 2011 @ 11:27 pm

7. 

   no but if you dont pay it at all they will send the repo truck after you

   Comment by lillystill — June 30, 2011 @ 11:27 pm

8. 

   All of the answers are correct.
   If you are late a few weeks each month because of your pay schedule at work, talk to the lender. They might alter your due date to work better with when you get paid.

   Comment by Me M — June 30, 2011 @ 11:27 pm

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