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Questions about Late Fees

I forgot to pay my bill! When do late fees get applied to my payment?
If you do forget to pay your bill on time and miss the due date, don’t panic. Depending on you state and contract, you may have a grace period. Please refer to your contract for more information. However, if you make a payment after the grace period, CULS will assess you a late fee. Please refer to your contract to see the amount and timing of your late fee. Consider signing up for our free, automatic payments and e-statements. You’ll never have to worry about a late fee again!

I’ve paid after the grace period and incurred a late fee. How do late fees effect my payments?
A late payment at CULS will never cause a second late payment. So long as you make your regularly scheduled payment on time, you will not incur a second late fee due to non-payment of the first late fee. However, late payments do add up. You must pay all late fees you’ve incurred before CULS will release the lien on your car. If you sell or trade-in your vehicle and request a payoff quote, CULS will include late fees in the amount. Consider signing up for our free, automatic payments and e-statements. You’ll never have to worry about a late fee again!

I’ve made a late payment. Will this affect my credit score?
If you make your payment within 30 days of your due date, it will not impact your credit score. A payment made 30 days after your due date will have a negative impact on your credit score. A payment made 60 days after your due date will have a greater impact on your credit score. Not paying your bill at all will also have a negative impact on your credit score. Consider signing up for our free, automatic payments and e-statements. You’ll never have to worry about a late payment again.