Better late than never is a common English proverb*. It means:

It’s better to do something late [or to be late] than to not do something at all.

[*A proverb is a short expression or phrase in English that is a commonly known piece of advice or an experience.]

 

Of course, it’s always better to do things on time!

 

Example sentences:

It’s been 5 years since Madonna’s last album. Better late than never!

My library books are 5 days overdue! I have to return them today. I’ll have to pay a fine, but better late than never.

The city has finally put traffic lights at the intersection. It’s better late than never, but this should have been done years ago.

I’m sorry I’m late for the meeting. I got stuck in traffic on my way to work. Better late than never, right?

 

NOTE: this is a comparison between late and never, so use than, NOT then!