New auto loan with 1 late payment.

[Anonymous]

Hello. I am going to be applying for a new auto loan soon. Now I do have a late payment showing on my credit report. The payment was made about a week late and the bank refuses to give a goodwill adjustment as the payment late because it was due 2 days before Christmas. Granted I know that isn't an excuse but I just forgot and it didn't clear in time before the holiday. Now I was trying to find out how badly that one late payment will affect me when I apply for my next loan in the next 30 days. Right now my score is 641, with 2 credit cards with low balances. Help anyone?

[09Lexie]

Welcome to the forum. In order for your payment to have been considered late, it would have to be 30days late. When was the pyt actually made?

[Anonymous]

And as to how much it will affect an auto loan it would be nice to know what the late account was (i.e. was it an auto loan, credit card, utility bill?). How long ago did it occur? And what previous auto loan history do you have showing on your credit reports? Auto loans can be more forgiving of erratic histories on non-auto accounts as the loan is secured by an actual asset (the car) versus unsecured like a credit card. A prior positive auto loan history can count for a lot. A prior negative auto loan history can doom an otherwise good credit profile.