AUTO LOANS

Missed a car payment?

What happens next, and how to keep your car

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01

Late fee

After the grace period

Check your contract for the grace period and fee.

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02

No notice

Credit report hit

Pay before 30 days late to avoid a credit report mark.

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03

No notice

Repossession risk

In many states, lenders can repossess once you default, without warning.

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04

Call now

Ask for a deferral

Many lenders move a payment to the end of the loan. Get it in writing.

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05

7 years

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

Your rights and step-by-step options

Read the full guide

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Photo: MercurySable99 / Wikimedia Commons, CC BY-SA 4.0