Because their interest rate is very high, they can't charge high interest if they repay in advance. You can pay it back in advance, but they must also ask you to pay interest.

Two. How to apply for ICBC to reduce the penalty for prepayment of auto loans?

The use method is as follows

1. If you want to apply for reducing the penalty for early repayment of ICBC car loans, you need to go to the local branch of ICBC to make corresponding repayment, the problems and reasons of the penalty, and then you can apply for reduction.

Third, why can't the car loan be repaid in advance?

The car loan cannot be repaid in advance, mainly because the two lenders agreed in the car loan contract that the loan cannot be repaid in advance. When signing a loan contract, users need to repay in advance. They can negotiate with the lending institutions and write the content of prepayment into the loan contract. Then if they want to pay in advance, they will follow the contract.

But the loan contract does not involve prepayment. As long as there is no explicit rejection, users can also run prepaid.

4. Why did I fail to apply for prepayment of auto loan?

Class II cards are generally limited in amount. If the loan repayment fails in advance, you can contact the loan bank and repay the loan directly at the counter. After the repayment is completed, you can go through the formalities of mortgage vehicle certificate.