Making one late car payment means a consumer's positive credit score will lose 100 points on average, said a study published this week.

Depending on the system, a perfect score can be 990 (Vantage) or 850 (FICO). The average credit score for U.S. consumers with no late auto payments is nearly 100 points higher than for those who have at least one late payment, according to the latest National Score Index study by Experian Consumer Direct.

The national average credit score for consumers with no late auto payments is 703, while the average score for consumers with at least one late payment is 605, Experian found.

Birny Birnbaum, director for the Austin, Texas-based Center for Economic Justice, said it makes sense that a lending score would be affected by a late payment.

"But when it comes to whether or not you are going to file an auto claim, it has no relevance," he said. "It only goes to show the inherent unfairness of using credit scores in setting insurance premiums."

The average credit score drops further to 580 when an auto payment is late by 90 days or more.

Texas had the lowest average credit score for those with at least one late auto payment at 592, and also had the highest monthly auto payment of $570. Conversely, consumers in New Hampshire had the highest average credit score for those with no late auto payments at 728 and an average monthly auto payment of $442.

The study also found that:

o Twelve percent of consumers have at least one late auto payment on file nationwide.

o The national average balance on an auto loan is $15,654.

o Average U.S. monthly auto payment is $495.

o Twenty-eight percent of the U.S. population has at least one auto loan or lease on file.

Special Reports /

One Late Car Payment Drives Down Credit Score: Study

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