ford credit late payment?

Can someone tell me what happens if I am supposed to make a payment on my auto by the 2nd of the month but can not? DOes ford credit have a grace period? are there any fees? I could nto find any info on the
ford credit web site
Thanks.
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Your best bet would be to call them and explain. If you have been making timely payments to FMC in the past, that would be a plus for you. Remember, the last thing FMC wants to do is repossess your car, but they do want you payments. Besides, a repo on your credit report/history would not be a good thing. wth

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Dave Hauss wrote:

What they will want to do with you is whether you pay your note with your existing resources. They have been known to lower an interest rate and change the due date to keep from having to repo the car. By all means CALL THEM NOW and make arrangement before the tow truck arrives. At that point, it's too late. Ford Credit is in the business of lending money for selling cars. Ford's dealerships, along with used car lots, would sell your car. Ford Credit does not want your car. They want your money. They will take a loss when the car is sold at auction. Guess who will be liable for the deficiency? You will. Be up front with them and they will probably work with you.
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snipped-for-privacy@unlimitedsounds.com (Dave Hauss) wrote in

Having a wife who is totally disorganized and therefore often late on bill payments, I can tell you they have a 10 grace period before they hit you with a late charge. On our $470 payment it was about $35. And remember, its when they get it, not when you mail it.
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Something to remember when financing through Ford Credit. They allow dealerships to bump up the interest rates by up to 2-1/2 percent and take the increase as a kickback. So when the dealer says he can get you financed for 7-1/2%, Ford credit is likely only charging 5% and the dealer is getting the rest.
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Common industry-wide... and for leasing, too!
--
Regards,
Anthony Giorgianni
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akheel wrote:

And adding my .02, if you have a computer, Quicken with Checkfree is your best friend. Once you set it up, Checkfree sends your payments for you for a flat fee. If it gets there late, assuming you sent it to them in time for processing, they eat the late fee. All you have to do is keep your checking account with enough money to pay the bills. Take out the "funny money" for yourself and let the computer do the rest. And you have control of your money, you can stop the service or any individual, given 4 days notice, at any time.
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Richard Ray wrote:

I've been using Checkfree for quite some time (sans Quicken) and have never had to pay any fees.
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Dave Cilluffo wrote:

Some banks will pick up the charges for you. Standard Quicken Checkfree charges are $9.95 for first twenty transactions, $2.49 for each additional ten. It's the link between the Quicken and Checkfree interface that I believe is being paid for. This way I'm not tied to any bank.
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Well, since my wife was so disorganized, I did switch to online bill payment. I use Bank of America. Pays automatically every month. Totally free. I can download right to Quicken as well, although I haven't gotten to that part yet. I read somewhere that the reason the banks are pushing this is that its a whole lot cheaper for the bank to process an online payment than a paper check. Sort of like when ATMs came out; cheaper than a teller.
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If you were going to do it automatically, wouldn't it be better to just let Ford make electronic transfers from your bank account for NO fee?
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MMccoy01 wrote:

I do that myself, because I have a measure of trust that Ford Credit will take out the amount they say they will on the date they say they will. Other vendors, DISH Network being the worst, would never get the electronic keys to my bank vault. Double billings, a screw-you attitude will put you on my Quicken Checkfree list in a hurry. An accusation of "we didn't get your payment" can always get a reply from me that "your payment was sent out on (date) and cleared my account on (date). I suggest you review your records" dumbfounds them.
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