Monthly Payment on cars-can it be scheduled on a particular date?

[Anonymous]

I m wiaiting to get a loan on my car towards the end of the month. I m wondering if on the day that  you apply and take delivery of your car,Is that become the date that your next payment is scheduled. I m told the first payment on car loans is usually not due until 45 days.

 If you took delivery lets say on 2oth of month, so is your payment for 60 mos or whatever scheduled exactly again on the 20th of next month? 

Is it flexible? is it different if you go thru dealerships versus cap1 or credit unions?

I m actually postponing my car purchase for i want to schedule my car payments between 25th thru 29 th of every month?

Just wondering.

[SamsungHDTV]

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@Anonymous wrote:

I m wiaiting to get a loan on my car towards the end of the month. I m wondering if on the day that  you apply and take delivery of your car,Is that become the date that your next payment is scheduled. I m told the first payment on car loans is usually not due until 45 days.

 If you took delivery lets say on 2oth of month, so is your payment for 60 mos or whatever scheduled exactly again on the 20th of next month? 

Is it flexible? is it different if you go thru dealerships versus cap1 or credit unions?

I m actually postponing my car purchase for i want to schedule my car payments between 25th thru 29 th of every month?

Just wondering.

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Generally your first payment is due in 30 days of the closing date. It really depends on the lender and their policies. Some lenders will let you pick the due date. Others will let you change the payment date after a couple of payments.

These questions are best for the lender you get.

[Anonymous]

I was told its usually 45 days from signing day however if in deferred payment program it can be 90+45 days. (Hyundai has such a program). Hyundai also offers 75 mos payment plan.  lol

[2b2rich]

I think it has to do with lenders for the most part.  I purchased a car March 17th and my first payment was DUE by April 16th (yet, it didn't first report to the CRAs until after the 2nd billng cycle).  2 weeks later my kid bought a car through a different lender and his first payment wasn't due for about 6 weeks after purchase.

[Anonymous]

So who was your lender requiring payment in 30 days? Who was your kids lender giving 45 days? 

Isn't that interesting to know

[ezdriver]

I recommend that you propose a payment date to the dealer financing person and offer to have auto-pay from your bank account. Alternatively, you can and should check with your local CU/bank and have the financing on hand when you walk into the dealer. Many lenders will try to accomodate your requested payment date ... and you always have some float time [10 days or so] within which you can make you payment and not be penalized.

[Anonymous]

My experience has been 30 days but I know that a lot of lenders will allow you to pick a payment date if you call, I have done this with Capital One and Wells Fargo.  Some manufactuers and dealers will advertise no payments will January during the fall to help sales during the holidays.

[Anonymous]

You should be able to negociate with them on the date you would like your car payment.  I did. 

[Anonymous]

who was your lender and in what state?How long ago was this?  how long did you wait to schedule a date of payment. Did you do it at the dealership, waited to receive all documents then called in to schedule payment? 

[Anonymous]

Lender was BMW Financial.  Was 8 months ago.  I told them to give me 45 days & wanted it on the 3rd of the month. Dealership while I was purchasing the car.  No problem at all.