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What will happen if the car loan is not?
Now more and more people take out loans to buy cars. Buying a car with a loan can not only add icing on the cake to personal credit, but also really achieve great things with small money. Can be said to kill two birds with one stone, full of joy. However, the weather is unpredictable. What will happen if the car loan is caused for some reason? What are the consequences? 1. At the beginning, if the lender doesn't repay the loan, the lender will call for payment, but if the payment is unsuccessful, the lender will find your location through the GPS positioning system. Then find the vehicle according to the search clues, and ask the trailer company to tow it away, and then detain the vehicle until the owner pays the arrears, and the vehicle can be returned to Zhao intact. If the owner delays repayment, the lending institution will sell the vehicle to compensate for the loss. 2. In more serious cases, the lending institution will bring a lawsuit to the court. When handling the car loan, the car has gone through the mortgage registration formalities, and the real ownership belongs to the lending institution. The general court will judge the lending institution to dispose of the mortgaged car, and the proceeds will be used to repay the principal and interest of the loan first. If there is still money after paying off the loan principal and interest, the lending institution will return it to the original owner. If the money can't pay off the loan principal and interest, there is still a debt after deduction, and the original owner still needs to repay it.