If you can't pay back the car loan, you will lose money by paying back the car. Cars will depreciate. Even if it is returned, it will not be calculated at the original price. It will be valued according to the used car, up to 80%. In addition, even if the car is returned, it is also a breach of contract, and the liquidated damages are paid according to the contract, and the down payment is much less. Therefore, if you can't afford the car loan, you'd better not return it. You can sell your own car, release the mortgage after you get the car money, and then transfer the ownership.

The term of automobile consumption loan is generally 1-3 years, and the longest is no more than 5 years. Among them, the loan period of second-hand car loans, including extension, shall not exceed 3 years, and the loan period of dealer car loans shall not exceed 1 year. According to the regulations of the central bank, the benchmark interest rate is implemented for auto loans, but financial institutions can float within a certain range of the benchmark interest rate. The term of auto loans in major banks is generally less than five years, and the interest rate of auto loans directly determines the cost of people's loans and becomes an important factor in determining whether people lend. The actual interest rate of car loan is set by the handling bank according to the actual situation of customers and with reference to the benchmark interest rate stipulated by the central bank. Generally, customers with excellent conditions can enjoy the benchmark interest rate or float down 10%, while ordinary customers need to float up 10% on the basis of the benchmark interest rate.

The process of car loan is as follows: first, the lender needs to prepare ID card, residence certificate, work certificate, loan purpose certificate and other supporting materials, go to a bank, fill out an application form and fill out a contract. Then wait for the bank's pre-loan qualification investigation and approval. If the lender meets the loan conditions stipulated by the bank, the bank will inform the lender to fill out some loan forms. If the loan applied by the lender needs mortgage or guarantee, it is also necessary to sign a guarantee contract and a mortgage contract, and go through the mortgage registration procedures; If the loan is unsecured, there is no need to sign such a contract. Secondly, banks issue loans to lenders. Generally, banks will lend money within 2 to 3 weeks or 1 month after the approval is completed, and the loan can be released within 1 day at the earliest. Finally, the borrower will pay the down payment to the car dealer, and handle the car pick-up formalities with the passbook and the car pick-up note issued by the bank. In the process of applying for personal automobile consumption loan, the applicant needs a copy of ID card, household registration book, marriage certificate, income certificate, bank statement, real estate license and so on.