Detailed description:

1. Your car loan last month was five days overdue and you have paid the corresponding liquidated damages.

2. In the future, as long as the car loan is repaid on time every month, there is no need to pay liquidated damages. However, as a borrower, you still need to pay interest.

3. Interest is the economic compensation calculated according to the loan amount, loan interest rate and loan term, usually expressed in the form of annual interest rate.

4. When you repay the loan on time, the lending institution will calculate the interest according to the monthly arrears balance and add it to the amount payable in the current month.

5. liquidated damages are punitive expenses arising from failure to repay on time. Once the repayment is made on time, there is no need to pay this fee.

Summary:

Although you paid the penalty, as long as you pay the car loan on time every month from now on, you don't need to pay the penalty again. But as a lender, you still need to pay interest as economic compensation during the loan period.

Extended data:

According to the relevant laws and contracts in China, the lender may require the borrower to repay the loan on time and impose penalties for overdue repayment. Liquidated damages is a common punishment method, which is calculated according to the overdue rate stipulated in the loan contract. Interest is the fee paid by the borrower to the lending institution for using the loan funds, which is determined according to the loan amount, interest rate and loan term.