Continued missed payments may result in auto repossession. If 30 days pass and you fail to make a payment, Capital One will report your missed payment to the credit bureaus.
That means if you wait until the last day of your grace period to make a payment, you’ll need to submit payment before the cutoff time to avoid a late fee. If you make a payment after this time, it will not process until the next business day. Keep in mind that Capital One’s payment cutoff time is 4 p.m. To find out the exact fee amount and grace period that applies to your account, review your contract or contact Capital One Auto Financing customer service at (800) 946-0332. During our research, we found that Capital One auto loan customers have reported late fees ranging from $5 to $30.
The grace period varies depending on your contract but is usually between seven and 15 days.Ĭapital One customer service representatives said they are only able to share specific late fee information with current accountholders, but did they tell us that the fee is based on state laws. Capital One Auto Loan Payment Grace Period ExplainedĬapital One offers a grace period on auto loan payments before assessing a late fee. Below, we answer more questions about Capital One’s auto loan payment grace period and policies. The exact grace period and late fee amount vary depending on your contract and state laws.
Capital One Auto Loan Payment Grace Period ExplainedĬapital One auto loans typically have a grace period of seven to 15 days before a late payment fee is assessed.
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