Is the car loan repayment automatically deducted?
Auto-deduction of car loan. When signing a car loan contract, users will agree on the bank card for repayment. On the repayment date of each month, the car loan will be automatically deducted. Take SAIC Finance as an example. The user agrees to use the CCB savings card for repayment, and the repayment date is the 2nd day of each month. Then the No.2 system will automatically deduct the balance in the CCB card for car loan repayment.
If the deduction fails on the same day, the deduction will generally continue on the next working day. Please pay attention to whether the balance in the bank card is sufficient on the repayment date.
The term of automobile consumption loan is generally 1-3 years, and the longest is no more than 5 years. Among them, the term of second-hand car loan (including extension) shall not exceed 3 years, and the term of dealer car loan shall not exceed 1 year.