1. Communicate with the credit manager in time.
You need to know that when you contact your credit manager, he may lose this year's bonus because of common problems in the project, so you are a "community of interests". There is something wrong with the cash flow. As long as you communicate your difficulties with the account manager in time, to tell the truth, he will definitely help you find a way.
2. Apply for extension or installment repayment in advance.
You can take the initiative to contact the platform to apply for extension or installment payment, so as to gain more repayment time for yourself, and at the same time, you can show that your willingness to repay is very high. Under normal circumstances, consumers can apply for installment payment, but they can only pay extra handling fees. In the future consumption life, we should appropriately control the shopping impulse, make reasonable shopping and reduce the repayment pressure.
3. Transfer or sale of vehicles
The purchased vehicle can be sold and then used to repay the loan with the consent of the auto loan institution.
The new buyer signs a mortgage loan contract with the car loan agency, and the new buyer continues to perform the repayment obligations.
Although it is not a good solution, it is much cheaper than litigation and auction.
Borrow money from friends and family.
You can borrow money from friends and family to repay it. The disadvantage of borrowing money from relatives and friends is a little humiliating, but it is better than affecting the credit report. After all, face can be repaired by paying more interest or contacts in the future, but it is troublesome to spend credit information.
After the general borrower's car loan is overdue, the lending institution will call to collect the loan. If the borrower fails to pay back the money, if the collection fails and reaches a certain period, the lender 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. Under normal circumstances, the 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.
So don't wait for the bank to sue you, or the loss will be even greater.