My car payment is due on 5/28/2007, which is today. I made the payment a few minutes ago and I guess because of the holliday it won’t let me make the payment on 05/28/2007, but instead on 5/29/2007. It is through Mercedes-Benz Financial. What happens if I am one day late?
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Questions January 11th 2010
January 12th, 2010 at 4:22 pm
usually you have at least a 5-day grace period. my car payment has a 10 day grace period. you should be fine, but check the fine print of your loan agreement.
January 15th, 2010 at 5:34 am
If they can’t wait one day, they must be in dire straits. I wouldn’t worry about it.
January 18th, 2010 at 1:11 am
ull be fine. at the most ull get a late fee, but they arent going to re posses ur car or anything
January 19th, 2010 at 12:16 am
you void the contact and you have to sent the car too me… nothing should happen one day late
January 22nd, 2010 at 9:37 am
car make means nothing - it is the lending institute carrying your loan who sets the rules. Usually one day late - should have no calamity happening on you - at worst they may add a fee or additional interest. If this occurs and you call them and say you were traveling or something of that nature - they will wave the fee. If this happens often - nothing will be waved. You could even call them and say you will be a day late - the people who pay late and play hard to get - are the ones the lenders are concern about
January 22nd, 2010 at 1:43 pm
Nothing JUST CALL You have a 10 day grace peroid.
January 26th, 2010 at 12:05 am
The swat team will arrive at your door and beat it down and drag you away….just kidding. There is normally a grace period on payments, especially around holidays, and most credit scoring is done by 30 days or more. Don’t sweat it.
January 28th, 2010 at 8:08 pm
Well, first off, they could raise your interest rate if it is not set, then they will report a late payment to the credit bureaus, in turn will report to all of your credit holders and they could potentially raise interest rates too. Your not going to lose your car or anything, but thats pretty much what may be in store, unfortunately. It will affect your credit score too.
January 31st, 2010 at 4:00 am
I’m not sure you have 5 or 10 days grace period (it’s not a home mortgage) but maybe you have. Just check what your contract says.
If you do not have any grace period, call the financial company and tell them you made the payment, so they’ll make a note not to mark it as a late payment.
If they are as bad as some other companies, they may mark it “late” even after one day and it will show up on your credit report. But if you call them, they’ll let it slide.
February 3rd, 2010 at 8:58 am
It’s very simple. They won’t take your car, but they will ruin your credit rating. The next time you take out a loan for anything, it will cost you more because you don’t make your payments on time.
October 3rd, 2010 at 11:16 pm
It is very simple to make a payment through MyEasyPayment. Bank of America card account is accessible 24 hrs each day through on line accounts access. The web page is clean and quick to make use of. MyEasyPayment are committed to protecting your individual details on line to keep it secure and confidential.