Lindsey Desmet
Keep in mind that grace periods and late payment policies vary by each customer’s contract, as well as state laws.[1][2]
Below, I explain Nissan Finance’s grace period policy for late payments, plus detail ways to avoid payment issues in the future.
Nissan Finance Grace Period for Late Payments
Nissan Finance’s grace period for late payments varies by state law and your contract details. However, it’s typically around 10 days.[1][2][3][4]
You can find the exact grace period that applies to you by checking your contract or by contacting Nissan Finance at (800) 456-6622.[1][2]
I confirmed this information by reviewing Nissan Finance’s policy documentation, contacting corporate customer service representatives, and reaching out to Nissan dealerships in Alabama, Maine, and Utah.
Fees
If you make up your missed payment within the grace period, Nissan Finance won’t charge a late fee.[1]
However, after the grace period, you will pay a variable late fee based on the amount financed, your contract, and state laws.[1][2][4]
As with the specific grace period, you’ll need to refer to your contact or contact Nissan Finance to find the exact fee amount that applies to you.[1][2]
What to Do After Missing a Payment
After missing a payment, the best course of action is to make a full payment as soon as possible (including the late fee, if you’re past the grace period).[1]
For future payments, you can change your due date if the current one isn’t working for you. To request a change, call Nissan Finance at (800) 456-6622.[5][6]
If you can’t afford to make up the payment or make future payments, you should contact Nissan Finance at the nearest opportunity to discuss your options.[7]
The lender may allow someone else to take over your payments (pending credit approval), or you may be able to trade in your vehicle for a less expensive one.[7]
Avoiding Further Payment Issues
You may be able to avoid further payment issues by setting up recurring payments.[8][9]
By linking your checking or savings bank account, Nissan Finance can draw your payment automatically eight days before or after the due date each month.[8][9]
Tip: If you sign up for automatic payments, you should continue checking your bank account each month to make sure the payment processes; if it doesn’t, you will need to pay it before the grace period ends.
FAQ
Nissan Finance reports late payments to the credit bureaus 30 days after they’re due.[1][4]
Nissan Finance only grants deferred payments for qualifying retail installment accounts. It doesn’t defer payments for lease account holders.[10][6][11]
This varies by contract and state laws. (See more on vehicle repossession laws by state.) However, if you miss your first payment, Nissan Finance may repossess the vehicle once the payment is 30 days late. If you’ve made your previous payments on time, it may repossess vehicles when payments are 60 to 90 days late.[1][4]
In Summary
Grace periods and late payment fees vary by your contract and state laws. However, Nissan Finance doesn’t typically charge a fee until your payment is at least 10 days late.[1][2][4]
If you can no longer continue making payments, be sure to get in contact with Nissan Finance to discuss your options.[7]
If you’re able to make up your missed payment, you can avoid future payment issues by enrolling in recurring payments or changing the due date to what works best for you.[8][6]
Feel free to drop any comments or questions about Nissan Finance’s late payment or grace period policy below. You can also share helpful tips or personal experiences that could benefit others.
William Lipovsky
