PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
How much are late fees for car payments?
How much do late fees for car payments usually cost? I'm going to have to make a late payment because my paycheck got delayed, and I'm wondering how much the fee will be.
Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
That sounds like a really stressful situation, but you might still be able to make your payment on time! Depending on your lender, your contract may include a late payment grace period for. But if you do need to pay a fee, it will usually *cost between 2-5% of your monthly rate.
If you got your loan from a bank, you’ll likely have a 10 day grace period to make your payment. However, it will be considered late if you can’t pay until after it ends. But if you’re more than 30 days late, the payment will be considered missed, and your car may be put at risk of repossession. If you’re worried about making payments in the future, you can refinance your loan to lower your monthly rate.
If you’re looking for other ways to save, try using
Jerry
to save on car insurance. A licensed broker, the Jerry app helps you find and compare quotes from over 50 top providers for free. Users save an average of nearly $900 a year on car insurance—and the whole process only takes a few minutes!MORE: Does refinancing a car hurt your credit score?
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
