What should I do if I can't pay for a car with a loan?

The loans overdue record caused by your personal reasons is irrevocable. The exhibition period of overdue records in personal credit report shall be subject to the relevant regulations of the People's Bank of China.

the above contents are for your reference. please refer to the actual business regulations.

how to deal with the car loan

1. If you can't repay the car after buying it, once loans overdue is too long, the car loan handling bank (auto consumption finance company) is likely to sue the customer, and if you don't pay the loan after the judgment, it is likely to be enforced, and it is estimated that you will be taken away when you wait. /h/ Even some financial institutions will tow the car directly after the customer is overdue. Only when the customer pays off the debt quickly can the customer get the car back (some will ask the customer for a certain towing fee).

if you don't want the car to be towed away, the customer must ensure the repayment on time and try to avoid overdue. Even if it is overdue, we must find a way to pay it off as soon as possible.

if it is really impossible to pay off the loan for a while, the customer can take the initiative to contact the auto loan handling bank (auto consumer finance company) for negotiation, and try to apply for extending the repayment period to repay the arrears by installments. Banks (financial institutions) generally think that it is appropriate as long as customers do not intentionally overdue their debts. /h/ If an agreement can be reached in the end, then the customer won't have to worry that the car will be taken away because it is overdue, and then he can repay it in installments on time according to the newly negotiated repayment plan.

What should I do if the car loan is not paid

1. Borrow money to repay the loan.

if the car loan user is temporarily unable to repay the car loan, it is suggested that you can borrow money from friends and relatives around you first, so as to avoid the overdue car loan, otherwise the overdue car loan will not only generate high overdue interest, but also affect personal credit information.

2. negotiate with the bank.

if the owner is temporarily unable to repay the debt due to some special reasons during the repayment period, we can try to contact the bank to negotiate repayment. During the negotiation, we need to explain to the bank the reasons why we are currently unable to repay, and issue proof materials that we are currently unable to repay. During the negotiation, we will show our willingness to repay actively to see if we can reach an agreement to postpone repayment or implement re-installment, so as to alleviate the repayment pressure.

what should I do if I can't get the loan to buy a car?

I suggest selling the car and paying off the loan. You can buy a car when you have money behind you. If the credit is blacked out, there will be many difficulties behind you. Again, it is suggested that people who have no repayment ability should not borrow money, and cars are consumer goods, which will only depreciate rather than increase in value. Buy according to your own situation!

communicate and negotiate with the bank in time. Remember, whenever the loan is not paid, the first thing to do is to negotiate with the lending institution, show your difficulties, express your repayment determination, gain the recognition and trust of the bank, and apply for extending the repayment period and repaying by installments to reduce your repayment pressure. On the premise that the temporary turnover is not open, you can contact to apply for deferred repayment. If the average customer can't turn around temporarily, he can't pay the money. After verification, they will help extend the loan period.

second, you can find a financial institution to handle bridge loan and replace the overdue car loan. If the bank doesn't agree through consultation, then we can go to other banks or leasing companies to apply for new consumer loans and replace car loans. It should be noted that we have to apply for the car loan before it is overdue. If you apply after the deadline, the credit report will show the overdue record, and it will be too late.

find relatives and friends for temporary turnover to create time for yourself.

if the installment amount of the car loan is small, you can temporarily turn over the funds, solve the current repayment plan, and then find other ways to solve it. If you still want to drive your car, but there is no reason to apply for an extension, if the company fails to apply, you should borrow money from friends and relatives, but remember to make an iou with them and pay back the money on time.

if there's really nothing to do and there's no money to pay back, you'll just have to wait. Generally, if you can't repay your car by mortgage, after half a year, apply for the preservation and seizure of your car and collect the arrears through judicial auction. Of course, after deducting a series of expenses, if there is any money, it will be returned to you.

In short, you must not evade before the car loan is about to expire. Evasion will not solve the problem.

The best way to deal with the inability to repay the mortgage car

The inability to repay the car loan and the voluntary return of the car can solve the corresponding problems, depending on the contents of the contract signed at the time of car loan, and the ownership relationship of the car will change.

if you still want to keep the car when the car loan is unable to be repaid, you can try to apply to the bank or financial institution for loan extension. If the lender is unable to repay the loan for a reason, the bank will extend the loan for a certain period after verification, and extend the repayment period. Or borrow money from relatives and friends first, repay the loan, and then return the money to them when you are well-off, but here I suggest that you'd better write an IOU.

if you don't want to keep the vehicle, you can discuss with the seller to refinance the mortgage or find a buyer. First, you can use the buyer's down payment to repay the loan, and then after the loan is paid off, you can cancel the car mortgage registration and go through the formalities of transfer.

it should be noted that the vehicle can't be bought or sold before the loan is paid off, because when the vehicle is loaned, the vehicle needs to be registered as a mortgage, and only after the mortgage registration is cancelled can the vehicle be transferred, so it can be bought and sold naturally.

when you find yourself unable to repay the car loan, you need to think of a solution in time, communicate with the dealer as soon as possible, and find a suitable solution. If the loan cannot be repaid for a long time, it will affect the individual's credit record, and will cause certain liquidated damages. If it is serious, it will be enforced by the lending institution and the vehicle will be detained for auction to repay the car loan.

you can refer to the above solutions and precautions, but the specific implementation methods should be based on the actual situation, the results of negotiation with dealers, the contents of the contract and so on.

what should I do if I can't afford to buy a car with a loan?

I suggest selling the car and paying off the loan. You can buy a car when you have money behind you. If the credit is blacked out, there will be many difficulties behind you. Again, it is suggested that people who have no repayment ability should not borrow money, and cars are consumer goods, which will only depreciate rather than increase in value. Buy according to your own situation!

communicate and negotiate with the bank in time. Remember, whenever the loan is not paid, the first thing to do is to negotiate with the lending institution, show your difficulties, express your repayment determination, gain the recognition and trust of the bank, and apply for extending the repayment period and repaying by installments to reduce your repayment pressure. On the premise that the temporary turnover is not open, you can contact to apply for deferred repayment. If the average customer can't turn around temporarily, he can't pay the money. After verification, they will help extend the loan period.

second, you can find a financial institution to handle bridge loan and replace the overdue car loan. If the bank doesn't agree through consultation, then we can go to other banks or leasing companies to apply for new consumer loans and replace car loans. It should be noted that we have to apply for the car loan before it is overdue. If you apply after the deadline, the credit report will show the overdue record, and it will be too late.

find relatives and friends for temporary turnover to create time for yourself.

if the installment amount of the car loan is small, you can temporarily turn over the funds, solve the current repayment plan, and then find other ways to solve it. If you still want to drive your car, but there is no reason to apply for an extension, if the company fails to apply, you should borrow money from friends and relatives, but remember to make an iou with them and pay back the money on time.

if there's really nothing to do and there's no money to pay back, you'll just have to wait. Generally, if you can't repay your car by mortgage, after half a year, apply for the preservation and seizure of your car and collect the arrears through judicial auction. Of course, after deducting a series of expenses, if there is any money, it will be returned to you.

In short, you must not evade before the car loan is about to expire. Evasion will not solve the problem.