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When for first payment?

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EaglesFan2006
Established Contributor

When for first payment?

Just curious what the norm is for a first car payment being due? Wife is hoping to get a car on July 10th and I'm trying to straighten out the summer budget. I realize there's no exact definite answer but just curious what people have seen
Message 1 of 6
5 REPLIES 5
Broke_Triathlete
Valued Contributor

Re: When for first payment?

Mine was a month and two weeks after I opened the loan.

Personal:

Business:


Message 2 of 6
jeffm4688
Frequent Contributor

Re: When for first payment?

If via CU it's common to be exactly 1 month from dispursement. At least with my experience with penfed and my local CU.

FICO 12/2015 - EX 692 TU 685

FICO 10/2021 - EX 596 TU 605 EQ 600 - officially rebuilding.

What survived:
Amex HH - 1.5K | Amex Delta - 1K | Amex Bonvoy - 1.5K | Amex BRG - 3.5K | Amex BRG - 3.5K | Amex Business Cash- 2K | Amex Business Plus - 2K
Message 3 of 6
Anonymous
Not applicable

Re: When for first payment?

My first payment is due August 1.
I signed the paperwork Friday, so basically gave me 6 weeks.

Message 4 of 6
DantGwyrdd
Frequent Contributor

Re: When for first payment?

Mine was about two months or so, but I vaguely recall something about the dealership taking care of the first payment or somesuch (it was a while back) as part of the purchase deal so that's probably why.

Message 5 of 6
Anonymous
Not applicable

Re: When for first payment?

Mine is due 1 month from purchase date. Previously it's always been about 6 weeks so I was a little bummed, but whatever.
Message 6 of 6
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