Interest-free car loan prepayment process: 1. Apply for prepayment from the bank applying for loan one week to one month in advance; 2. After the approval of the bank, notify the specific processing time; 3. According to the agreed date, bring your ID card and the loan contract signed with the bank to the bank to fill in the loan repayment application form and prepayment agreement. The money to be repaid will be deposited into the account according to the requirements of the bank, and the bank will automatically deduct the money.

Precautions for prepayment of interest-free auto loans:

1. There is no limit on the number of times the bank can repay the car loan in advance.

Lenders can pay off all or part of the loan at one time. However, the starting amount of each repayment varies from bank to bank, some are 1 1,000 yuan or multiples of 1 1,000 yuan, and some regulations stipulate that if it exceeds 1 1,000 yuan, it can be repaid in advance.

2. There are two ways to repay the loan in advance.

First, reduce the monthly repayment amount and keep the repayment period unchanged; The second is to shorten the repayment period and keep the monthly repayment amount unchanged. If the income of the lender keeps increasing, you can choose to shorten the repayment period of the loan to realize the debt-free desire as soon as possible. If the income does not increase too much, we can reduce the repayment amount and keep the repayment period unchanged, which will reduce the repayment pressure.

3. prepayment must be made by appointment.

According to the regulations of banks, borrowers who need to repay their car loans in advance must submit a written application one week or one month in advance (different banks have different regulations on the appointment time of early repayment) and agree on the repayment date.

4. Prepare materials for advance payment.

When handling the formalities for prepayment of auto loans, the borrower shall provide his valid ID card, loan contract, motor vehicle registration certificate and other materials. Therefore, before prepayment, we must negotiate with the bank clearly and make preparations in advance in order to repay the loan smoothly.

5. Early repayment requires payment of liquidated damages.

According to the regulations of most banks, if the loan term is less than one year, you need to pay a certain amount of liquidated damages. The specific payment method is subject to the loan contract.

6. There is a minimum repayment limit for prepayment.

Although banks have no restrictions on the number of prepayments of auto loans, they have certain restrictions on the minimum repayment amount, but the specific provisions vary from bank to bank. For example, some banks require a minimum repayment amount of 654.38+0,000 yuan or an integer multiple of 654.38+0,000 yuan, while others require a minimum repayment amount of more than 654.38+0,000 yuan.

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