I. Repayment on time
When buying a car by mortgage, most people are concerned about the problems before buying a car: application conditions, interest rate, years, handling fees, etc. In fact, there are many disputes after buying a car. There are two most common disputes:
1. It is quite common to fail to repay the loan on time in a certain month. After all, everyone has temporary financial problems and may need to pay a certain penalty. This will be written in the contract, and everyone needs to pay attention in advance;
2. If the repayment is overdue for more than 3 months, the guarantee company can directly detain the vehicle. If the owner wants to return the car, he can only pay off the loan, liquidated damages and various expenses incurred by the guarantee company in the process of detaining the car. In short, overdue is a common occurrence, and everyone should be prepared to pay liquidated damages. Some informal companies will take advantage of this, seize the owner's car at will, and then let you pay various fees.
Second, mortgage auction.
After buying a car, a small number of people have not paid off their car loans. For various reasons, they don't want it. It's too much trouble to sell their car. They simply don't pay back the money and wait for the bank to mortgage it for auction. The best way is to apply directly to the bank and sell the car and pay back the money after approval. At least, there is no need to pay liquidated damages, and personal credit information is not affected. When signing a contract, no matter how thick the text is, you should read it carefully and understand it, such as whether there are any additional conditions and the consequences of breach of contract, and then sign it.