Generally, if a car loan is overdue for more than 7 days, the car will be towed away by the loan company. Some loan companies have regulations on the number of overdue days that the car will be towed if the overdue days reach 10 days. In the actual loan process, the content of the car purchase contract and the loan contract will be the main focus. Generally, the contract will indicate the specific overdue time. However, forced towing is not allowed in our country, because some contracts do not include this content.

A car loan refers to a loan issued by a lender to a borrower who applies to purchase a car. Car consumption loans are a new loan method that banks issue RMB-guaranteed loans to car buyers who purchase cars at their authorized dealers.

The interest rate of automobile consumer loans refers to the amount of loans issued by banks to consumers, that is, borrowers, for the purchase of personal cars (non-profit family cars or commercial vehicles with 7 seats (inclusive) or less) Ratio to principal. The higher the interest rate, the greater the repayment amount the consumer will have to pay.

Car loan channels

1. Auto finance companies: The biggest advantages are convenience and low threshold. Companies are generally established by investment from automobile companies. Its "convenience" is not only reflected in the fact that you can apply directly through the 4S store, but also in that it does not require hard conditions such as household registration and real estate.

2. Credit card installment car purchase: The most significant advantage is the loan interest rate, which is half lower than the traditional bank car loan interest rate. You can apply for all common credit cards, and the models are cross-brand, so you have a wide range of choices. The premise is that you need a higher credit limit to enjoy it.

3. Bank car loans: Banks are under pressure from the tightening of credit scale. Consumer loan businesses such as car loans have shrunk significantly, and the loan doors for some mid- to low-end cars have been temporarily closed. The biggest advantage is that there is a wide range of choices. After car buyers choose a car model, they can go directly to the bank to apply for a personal car consumer loan.

However, the procedures for loan qualification review are very complicated. Generally, real estate (such as real estate) needs to be provided as collateral. Some banks offer it online for high-end customers or high-end models, and the car itself can be used as collateral. However, compared with other banks, Car loan approval takes a long time.

In terms of loan interest rates, car mortgage loan interest rates are generally about 10% higher than the bank's benchmark loan interest rate for the same period. Most car loan businesses require a guarantee from a guarantee company or the purchase of car warranty insurance, and car buyers also need to bear a guarantee fee of 2.5 to 3. Adding up all the handling fees, the comprehensive cost of a bank car loan is the highest among the three methods.