One day of late payment on a BMW car loan will affect your personal credit score. Overdue interest will accrue, which will affect your credit report. In serious cases, you will be sued by the court and jailed.

Overdue introduction:

Overdue repayment refers to the situation where the final repayment period stipulated by the bank is exceeded and the money consumed is not deposited into the designated account in full and in time.

Overdue buffer period:

Generally speaking, each bank will charge a certain amount of interest for overdue repayment. Each bank is different, usually an interest of 0.05%. . However, the interest accrual date should be calculated from the date of consumption, not from the day after the final repayment date. If the full credit limit is not reached, you can pay the minimum payment first without affecting the credit limit. At the same time, there will be a buffer period to facilitate the bank to understand the flow of funds in the account in a timely manner and will not freeze the account.

One million car purchase subsidies