Legal analysis: Generally speaking, banks will have a grace period of about three days, just like dealing with overdue credit cards. As long as the owner tries to pay off the monthly payment of the car during this period, there will be no penalty for collecting late fees and overdue personal credit records. Banks usually notify car owners to pay the repayment amount in time by text message or telephone first, instead of towing the car at the beginning. If the car loan is overdue for three months, the car will be collected, and the bank will take the trailer and auction it off.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 673 Where the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.

Article 675 The borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.