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What Is an Auto Loan Grace Period?
A car loan grace period can enable you to pay after the due date without penalties.
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NerdWallet's content is fact-checked for accuracy, timeliness and
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editors to ensure the information is as clear and complete as possible.
Shannon Bradley is a NerdWallet authority on autos and home services. Before joining NerdWallet in 2021, Shannon spent 30-plus years as a writer, content manager and marketer in the financial services industry. In these roles, she developed financial expertise and created educational content covering a wide range of personal and business topics. Shannon is based in Newburgh, Indiana.
Julie Myhre-Nunes leads the Auto Loans, Student Loans and Home Services teams at NerdWallet. Julie has over a decade of experience in personal finance. Before joining NerdWallet, she led editorial teams at Red Ventures and several startups. Her personal finance insights have been featured in Forbes, The Boston Globe and CNBC, while her writing has appeared in USA Today, Business Insider, Wired Insights and more.
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An auto loan grace period is a window of time past the payment due date when you can still make a payment without incurring late fees or other penalties. Car loan grace periods vary by lender and generally range from 10-15 days.
For example, if your auto loan payment is due on the 15th of the month, and your lender has a 10-day grace period, you would not be charged a late fee if you pay by the 26th of the month.
Most but not all auto lenders offer a grace period. You can check your loan agreement or talk to your lender to see if you have a grace period and how long it is.
» COMPARE: Find auto loan options that offer more flexibility
Is a car payment considered late during the grace period?
Lenders with a grace period consider a payment to be on time if it’s made within the designated time frame. During the grace period, your missed payment will not be reported to the three major credit bureaus as late, and you will not pay a late fee.
Once you’re past the grace period — for example, you haven’t made any payment on day 11 of a 10-day grace period — you will most likely incur a late fee. But your late payment still isn’t usually reported to the credit bureaus yet.
Typically, when a payment is 30 days late, or soon after, lenders consider the auto loan delinquent and report it to the credit bureaus.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account factors like maximum rates, variety of loan options, visibility of borrower requirements, accessibility, speed of funding, fees and more.
Best for borrowers with good or excellent credit who want fast approval and funding to buy a new car.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account factors like maximum rates, variety of loan options, visibility of borrower requirements, accessibility, speed of funding, fees and more.
4.5
Est. APR:
Annual percentage rate (APR) represents the true cost of
borrowing money. It is your interest rate plus any loan fees,
and is expressed as a percentage.
Annual percentage rate (APR) represents the true cost of
borrowing money. It is your interest rate plus any loan fees,
and is expressed as a percentage.
6.74 - 15.24%
Term: 24 - 84 months
You will be redirected to the partner's website.
The terms presented here are estimated and provided solely to assist you
in finding a great lender. The terms may vary based on the partner's terms
and conditions.
You will be redirected to the partner's website
The terms presented here are estimated and provided solely to assist you in finding a great lender. The monthly payment amount, Annual Percentage Rate (APR), and any other terms are based on standard Consumers Credit Union rates and terms for your NerdWallet provided credit score, zip code, and the other self-provided information. These terms may vary based on your credit history, your individual income, or other terms of the lender.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account factors like maximum rates, variety of loan options, visibility of borrower requirements, accessibility, speed of funding, fees and more.
Best for applicants who want to compare multiple new car purchase loan offers.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account factors like maximum rates, variety of loan options, visibility of borrower requirements, accessibility, speed of funding, fees and more.
4.0
Est. APR:
Annual percentage rate (APR) represents the true cost of
borrowing money. It is your interest rate plus any loan fees,
and is expressed as a percentage.
Annual percentage rate (APR) represents the true cost of
borrowing money. It is your interest rate plus any loan fees,
and is expressed as a percentage.
6.24 - 29.90%
Term: 24 - 84 months
You will be redirected to the partner's website.
The terms presented here are estimated and provided solely to assist you
in finding a great lender. The terms may vary based on the partner's terms
and conditions.
You will be redirected to the partner's website
The terms presented here are estimated and provided solely to assist you in finding a great lender. The monthly payment amount, Annual Percentage Rate (APR), and any other terms are based on standard Consumers Credit Union rates and terms for your NerdWallet provided credit score, zip code, and the other self-provided information. These terms may vary based on your credit history, your individual income, or other terms of the lender.
Auto Credit Express
New car purchase loan
Not yet rated
Best for new-car buyers who can’t qualify for a lower-rate loan through a traditional lender and need help finding a dealer with subprime lending.
Min score: None
Amount: No min. - $100,000
Min. AmountNo min.
Max. Amount$100,000
Not yet rated
Est. APR:
Annual percentage rate (APR) represents the true cost of
borrowing money. It is your interest rate plus any loan fees,
and is expressed as a percentage.
Annual percentage rate (APR) represents the true cost of
borrowing money. It is your interest rate plus any loan fees,
and is expressed as a percentage.
N/A - N/A
Term: 24 - 84 months
You will be redirected to the partner's website.
The terms presented here are estimated and provided solely to assist you
in finding a great lender. The terms may vary based on the partner's terms
and conditions.
You will be redirected to the partner's website
The terms presented here are estimated and provided solely to assist you in finding a great lender. The monthly payment amount, Annual Percentage Rate (APR), and any other terms are based on standard Consumers Credit Union rates and terms for your NerdWallet provided credit score, zip code, and the other self-provided information. These terms may vary based on your credit history, your individual income, or other terms of the lender.
What if I can’t make a car payment during the grace period?
If you know you can’t make your car payment before your grace period ends, contact your lender as soon as possible. It’s especially important to talk to them before your payment is 30 days late and likely to be reported to the credit bureaus.
Some lenders have auto loan hardship options — such as defering a payment to the end of the loan — which can help you catch up and avoid having an auto loan delinquency on your credit report.
What is the standard auto loan grace period?
Payment grace periods vary from lender to lender. For example, PenFed Credit Union has a grace period of 5 days compared to Digital Federal Credit Union with a grace period of 15 days. Consumers Credit Union offers a grace period of 10 days. Many lenders do not publicly share grace period information.
There are no federal laws pertaining to auto loan grace periods, so for the most part lenders have some leeway in determining if they will offer a grace period and its length. However, some states do have laws concerning how long a grace period should be before a late fee can be charged and how much that late fee can be. For that reason, a lender doing business in multiple states can have different grace periods and late fees.
Late auto loan payments often result from unexpected hardship, so it’s a good idea to know if you have a grace period and how long it is before facing a missed payment. To find out, check your loan agreement or talk to your lender.
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