If I'm consistently 10 days late on my new car loan payments, will it affect my credit score?

I got behind on my car payments a few months ago. Now, I'm always about 10 days late with my payments. How will this affect my credit score?

Answer
“In general, you have to be 30 or more days late for a lender to report you to the credit bureau.
Your true problem is whether you’re incurring a late fee each month. If you are, you might want to try to pay a day or two earlier to avoid the penalty.
But being this late consistently probably won’t hurt your credit score unless you stop paying altogether.”
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Eric Schad
Answered on May 05, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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