<prompt> Human: My first car payment is due today. We have a beautiful budget plan set up for car payments and were really excited! However, I clearly missed a crucial piece of information and am looking for some answers...So the payment was due today, Saturday. We get paid on Fridays and we thought that would be okay since we would take money out of every paycheck and pay as soon as we got home. So we got paid yesterday and went to make our first payment. Turns out it takes two days to go through, which means our first payment will be late!I called the loan place and the woman said I would only be given a late fee if it was paid TEN DAYS after the due date. What does this even mean? Since my payment will go through the day after the due date, how will it affect my credit? Weve made a whole budget with the car, and were really excited and confident we can make the payments, but were confused about whether we messed up on this payment..Thanks for any information...  <response>: Late fees on car payments are normally assessed 10 days after the due date. For example, if youre due date was 912011, on 9112011 a late fee would be assessed. Some people have 7 day grace periods, some have 15 days. It really depends on the contract.As for your credit, it is only reported if a payment goes 30 days past due or more for example, a payment that is 60 days past due would be reported again. Whoever financed your loan would be in contact with you before that, mind you. 