First, we must raise funds to solve the overdue payment. Generally speaking, we can get the car back after the repayment. If you don't breach the contract, but the vehicle is detained and the other party doesn't return it, you can go to court to sue. After paying off the overdue fees, the other party still demands high fees, and can report the case to the public security organ or bring a lawsuit in court.

credit card has the right to record. As we all know, once it is not timely, it will leave a bad record on personal credit. If you want to buy a house in the future, it will be more troublesome! It can be said that the consequences are still quite serious.

you can borrow money from friends and relatives, but it is also quite simple and rude. Or if you haven't got a car loan for the time being, you can apply for a loan to postpone repayment and discuss with relevant institutions to postpone repayment.

extended information

it should be noted that the car has already gone through the mortgage registration formalities when handling the car loan. In other words, the real ownership actually belongs to the lending institution. Therefore, generally to the extent of prosecution, the court will generally order the lending institution to dispose of the mortgaged vehicle. And give priority to repayment of loan principal and interest. When it is paid off, the balance will be returned to the owner. If you can't pay off, the owner still needs to pay off the debt.

on the one hand, this kind of loan to buy a car really brings great convenience to rural users; On the other hand, for many automobile manufacturers, this has undoubtedly found a new market to be developed, thus increasing the sales of many automobile companies.

Source: Baidu Encyclopedia-Late

Million Car Purchase Subsidy