The general grace period is 1-3 days. Once the time limit is exceeded, the lender can call for consultation and apply for leniency. If the car loan is overdue for more than 90 days, the lender may face prosecution. If it is a bank loan, the loan owed to the bank is a loan contract dispute. After more than 90 days, regardless of the amount owed, the bank can sue to the court for recovery. If the lender fails to perform, the court may enforce it according to the application of the bank.

If the car loan is overdue for more than three months, the bank (auto consumption finance company) will have the right to sue. But don't worry, in real life, few customers sue immediately after three months overdue. After all, it takes a lot of time and energy to file a lawsuit in court, so banks (auto consumer finance companies) will not file a lawsuit easily.

Unless the customer is overdue for a long time, the amount owed is large, and no one can be contacted during the overdue period, and the payment cannot be recovered, then the bank (auto consumption finance company) can sue the customer in court and urge the customer to repay through legal channels. If customers don't want to be sued, they must find ways to pay off their debts quickly after the deadline. Even if it doesn't pay for a while, at least the bank (auto consumption finance company) can see that they have the willingness to take the initiative to repay, and they can take the initiative to contact the bank (auto consumption finance company) to negotiate an extension.

When the general loan customer is overdue, the financial institution will call the loan customer one day after the customer is overdue to remind the customer to pay back the money. If the customer repays the loan on the same day, the bank will call to inform the lender that the repayment is successful, and the consumer's personal credit will not be affected. However, there are also strict requirements of financial institutions. As long as the bank does not deduct money on the repayment date, it will be regarded as overdue by the lender, deduct the penalty interest from the lender, and upload the overdue credit record of the consumer to the credit information system, leaving a bad record for the personal credit of the loan consumer.

legal ground

People's Republic of China (PRC) Civil Code

Article 577 Where a party fails to perform its contractual obligations or fails to perform its contractual obligations in conformity with the contract, it shall be liable for breach of contract such as continuing to perform, taking remedial measures or compensating for losses.

Article 578 Where a party expressly expresses or shows by his own behavior that he will not perform his contractual obligations, the other party may require him to bear the liability for breach of contract before the time limit for performance expires.