1. What are the consequences of car loans?

Car loans will also affect personal credit records, resulting in overdue fees and interest. According to China's credit-related regulations, bad credit records will only appear if the loan or credit card is overdue for more than 3 times or more than 90 days, which will be automatically controlled by the system. If there is no money for only one month, the principal and interest of these two months will be paid off before the interest settlement date of next month. However, during the period from the interest settlement date of this month to the next interest settlement date, unpaid interest will generate penalty interest. According to the relevant regulations of China's credit investigation, bad records will only be generated if it is overdue for more than 90 days, and the overdue for more than 90 days will be automatically controlled by the system. If you have no money for only one month, you don't need to apply. Just pay off the interest for these two months before the interest settlement date of next month. However, during the period from the interest settlement date of this month to the next interest settlement date, your unpaid interest will generate penalty interest.

Loan maturity date:

1 and 1 month, default interest will be incurred;

2, 1 month (more than 30 years), the bank will have SMS notification;

3. After more than 3 months (90 days), the bank will call or collect it at home;

4. After 6 months, the bank will send the summons to the borrower's home. On the day of the court session, regardless of whether the borrower appears in court or not, the collateral originally mortgaged by the borrower to the bank will be frozen and then auctioned. The proceeds from the collateral auction will be used for repayment. If the auction proceeds are greater than the arrears (the amount that the borrower needs to pay = principal, interest, liquidated damages, late fees, attorney fees, etc.). ), then the excess will be returned to the borrower. However, there is little extra money.

Second, the loan matters needing attention

1. Don't use the provident fund before applying for a loan. If the borrower takes the balance of the provident fund to pay the house payment before the loan, the balance of the provident fund in your provident fund account will be zero, and your provident fund loan amount will be zero, which means you will not apply for a provident fund loan.

2. Don't repay the loan in advance in the first year. According to the relevant provisions of the provident fund loan, part of the prepayment should be made one year after the repayment, and the amount you return should exceed the repayment amount of six months.

Don't lose the loan contract and IOU. To apply for a mortgage loan, the loan contract signed between the bank and you and the iou are all important legal documents. As the loan term can be as long as 30 years, as a borrower, you should take good care of your contracts and IOUs.

Don't forget to find the bank around you if you have difficulty in repaying the loan. Don't insist on it yourself when your solvency drops during the loan period and it is difficult to repay. ICBC customers can apply to ICBC for extending the loan term. According to our investigation, if there is no default in loan principal and interest, we will accept your application for extension.

5. Don't forget to inform when renting a house after the loan. When renting a mortgaged house during the loan period, the lessee must be informed of the mortgage facts in writing.

6. Don't forget to cancel the mortgage after the loan is paid off. When you have paid off all the loan principal and interest, you can go to the district/county real estate trading center where the property is located to cancel the mortgage with the bank's loan settlement certificate and other real estate rights certificates of the collateral.

In a word, the most serious legal consequence of not paying back the car loan is that the legal property in your name will be enforced, and the car will be registered as mortgage if it has a loan. Therefore, if you don't pay back the car loan, you will end up with no money and no car. I have left a bad credit record in my life, and I don't think I can get a loan in the future, so young people sometimes have to consider the consequences.

What happens if you can't repay the loan when you buy a car by mortgage?

If you buy a car by mortgage and don't repay the loan, you can start the proceedings after half a year. The bank can apply for security, seize your car, and then collect the arrears through judicial auction, and then return it if it charges more.

Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers.

1. Lending institutions will urge repayment by sending SMS reminders and telephone reminders, which may also affect personal and family life;

2. If the car loan is overdue, it will not only generate a penalty interest, but also be charged according to the loan contract, and it will also be reported to the central bank's credit information center, leaving bad information in the personal credit information report, which will affect the behaviors that need to evaluate personal credit such as loans and credit cards;

To a certain extent, banks have the right to auction mortgaged vehicles to recover loans.

Some lending institutions will load GPS positioning. If they don't repay the loan, they can find the vehicle through GPS and detain it. If they don't repay the loan, they will handle the vehicle themselves.

Extended data:

Buying a car with a loan can not only enable citizens with insufficient funds to buy their favorite cars in advance, but also allow some citizens with sufficient funds but other uses to free up some funds that would have been used for car prices for development. However, the resulting interest and extra costs have been ignored.

Undoubtedly, "interest-free, fee-free" makes many people who can't afford a car have the impulse to buy a car. However, the problems behind this kind of value for money have made many people ill-considered. Some auto credit practitioners believe that consumers must pay attention to three points when buying a car with loans:

1, whether you can still enjoy the car price discount after enjoying the "zero-interest-free loan" of the merchant;

2. The car loan fee in the market a few days ago was in the range of 4%~7.5%. Is it interest-free and fee-added?

3. The general car purchase interest rate is charged according to the bank benchmark interest rate. Regardless of whether the handling fee is unavoidable, the interest is floating on the basis of the bank's benchmark interest rate. At the same time, due to the choice of loans, new car insurance must be "fully insured", which will result in a large premium expenditure.

Therefore, the most important thing in car loan is to shop around. Consumers should choose a regular car loan service company with certain qualifications and strength, which will not only standardize services and charges, but also leave you with hidden dangers.