AUTO LOANS
What happens next, and how to keep your car
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01
After the grace period
Check your contract for the grace period and fee.
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02
Credit report hit
Pay before 30 days late to avoid a credit report mark.
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03
Repossession risk
In many states, lenders can repossess once you default, without warning.
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04
Ask for a deferral
Many lenders move a payment to the end of the loan. Get it in writing.
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05
How long late marks stay
A repossession and collections can also stay on your report for 7 years.
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Keep your car
Read the full guide
nexgenheadlines.com
Photo: MercurySable99 / Wikimedia Commons, CC BY-SA 4.0