Does the questioner want to ask "Bank of Beijing car loan for 5 years, early repayment after two years, no interest, no default conditions"? have. According to a query on Car Loan, a 5-year car loan requires one year of monthly repayment or two years of repayment before there is any penalty for early repayment. Before then, the bank will charge 3% for early repayment. to 5% liquidated damages.