If you can't repay the car loan, you can apply to the lending institution for extension, or borrow money from relatives and friends to repay it, and then pay it back in time when the capital turnover is opened. If you can't repay for a long time, it will affect your personal credit record, and there will be penalty interest and liquidated damages. If it is serious, you will be sued by the lending institution, and the court will enforce it, impounding the vehicle for auction to repay the car loan.
Loan (electronic IOU credit loan) is simply understood as borrowing money with interest.
Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.
Treatment method:
First, if the owner cannot continue to repay the car loan for some other reasons during the loan repayment period, negotiate with the bank. Then you can call the customer service of the bank before the repayment date, explain the current situation and issue a proof of why you can't repay the loan. Then negotiate with the bank whether it is possible to extend the repayment period or implement the installment again. If the reason why the owner can't repay the loan is serious illness, unemployment and other factors, he can also try to apply to the bank to stop paying. This can minimize the losses of car owners and banks.
Second, the auction if the owner can't continue to repay the car loan, but the negotiation with the bank is fruitless. Then the owner can choose to voluntarily give up the vehicle and hand it over to the bank for auction. However, if this is done, the car loan fee paid by the owner in the past is equivalent to a waste of water, and the loss is relatively large, and the auction price is often low.
Third, transfer in the case that the owner can't continue to repay the car loan, he can also choose to find someone who is willing to buy a car or a second-hand car dealership, so that the third party can directly pay the remaining car loan. Then the owner can go to the bank to pay off the car loan and cancel the mortgage, and then transfer the car to a third party.
What are the best ways to deal with the mortgage car's inability to repay? All these methods can be tried.
When buying a car with a loan, considering the current economic pressure, many borrowers will choose to apply for auto loans from banks or auto financing institutions. After handling the car loan, the car owner will need to repay the car loan on time in the future. What are the best ways to deal with the mortgage car's inability to repay? You can try all these methods!
What are the best ways to deal with the mortgage car's inability to repay?
1, help
If the car loan user is temporarily unable to repay the car loan, then it is suggested that you borrow money from friends and relatives around you to avoid overdue car loans, otherwise overdue car loans will not only generate high overdue interest, but also affect personal credit information.
2. Resale vehicles
If the owner can't continue to repay the car loan, but the negotiation with the bank is fruitless, in this case, the owner can choose to voluntarily give up the car and hand it over to the bank for auction. If you do this, it is very uneconomical. For the owners, the auction loss is more serious.
Step 3 negotiate repayment
If the mortgage loan cannot be repaid, the customer can try to contact the customer service staff of the handling bank (auto consumption finance company) to negotiate and apply for an extension of the repayment period and repay the arrears in installments.
Of course, banks (auto consumer finance companies) will not easily agree, so customers must make it clear that they are temporarily unable to repay, and provide information to prove that they have not intentionally breached the contract; You should also express your sincere repayment idea, and the bank (auto consumption finance company) will consider it as appropriate.
The above is the related content sharing of "the best way to deal with the inability of mortgage car to repay", hoping to help everyone!
What if the loan car is unable to repay?
First, if the car loan is not paid, you can try to apply for a credit loan at the bank.
Second, credit card withdrawal will temporarily ease the pressure on car loans.
Third, you can apply to the lending institution for extension to ease the loan pressure.
Fourth, if you can't repay the car loan because of temporary capital turnover, you can apply for online microfinance.
Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers. The interest rate of automobile consumption loan refers to the ratio of the loan amount to the principal given by the bank to consumers, that is, borrowers, for purchasing their own cars (non-profit family cars or commercial vehicles with less than 7 seats). The higher the interest rate, the greater the repayment amount of consumers.
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.
If you buy a car by mortgage and don't repay the loan, you can start the proceedings after half a year. The bank can apply to the court for the preservation and seizure of your car, and then collect the arrears through judicial auction, and return them after removing various fees.
Car loan refers to the loan issued by the lender to the borrower who applies for buying a car.
Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers.
1. Lenders will urge repayment by sending SMS reminders and telephone reminders, which may also affect personal and family life.
2. Overdue car loans will not only impose penalty interest, but also charge fees according to the loan contract, and will also be reported to the central bank's credit information center, leaving bad information in the personal credit information report, affecting loans, credit cards and other behaviors that need to evaluate personal credit.
3. To a certain extent, the bank has the right to recover the loan by suing the court and auctioning the mortgaged vehicle.
Some lending institutions will load GPS positioning. If they don't repay the loan, they can find the vehicle through GPS and detain it. If they don't repay the loan, they will handle the vehicle themselves.
The best way to deal with the inability of mortgage car to repay.
If the mortgage loan cannot be repaid, the customer can try to contact the customer service staff of the handling bank (auto consumption finance company) to negotiate and apply for an extension of the repayment period and repay the arrears in installments.
Of course, banks (auto consumer finance companies) will not easily agree, so customers must make it clear that they are temporarily unable to repay, and provide information to prove that they have not intentionally breached the contract; You should also express your sincere repayment idea, and the bank (auto consumption finance company) will consider it as appropriate.
If the customer's extension request is finally approved, then the customer will discuss with the other party a new repayment plan, and then repay the arrears in installments on time according to the new plan.
If the bank finally disagrees, customers are advised to find other channels, such as trying to borrow money from family and friends around them to raise funds to repay the arrears. Be careful not to run away directly, or you may be sued in court.