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When is my first payment due on a car loan?
I've already been approved for a car loan, but I want to make sure it lines up with my monthly pay period. When is my first payment due?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Check your promissory note or loan agreement to determine the date for your first payment. Some lenders offer a 60-day no-payment window.
It may be possible to adjust the payment date to your preferred schedule. For example, you could pay 45 days after the loan—as long as you’re okay with accruing a bit more
interest
on the loan.Reach out to your lender ASAP to find out what’s possible. Best of luck with adjusting your payment schedule!
View full answer
- Gregory R.
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