How long does it take for a car loan to be towed if it is overdue?

Under normal circumstances, if the car loan is overdue for more than 3 months, the bank, car finance company or car loan company may tow the car, and then Make a detention. Before a tow truck can be impounded, a court order must be issued transferring the car's disposition to the lender. After the lender impounds the vehicle, it can be auctioned and the money from the sale can be used to offset the remaining car loan. Therefore, if the car loan is overdue, as long as the outstanding amount is paid in time, the lending institution will generally not seize the car.

Legal Basis

Article 101 of the "Civil Procedure Law of the People's Republic of China (2017 Revision)" Pre-litigation property preservation If immediate application for preservation will cause irreparable damage to the person's legitimate rights and interests, he may apply for preservation measures to the people's court where the property to be preserved is located, where the respondent is domiciled, or has jurisdiction over the case before filing a lawsuit or applying for arbitration. The applicant shall provide a guarantee. If the applicant fails to provide a guarantee, the application shall be rejected. After the People's Court accepts the application, it must make a ruling within 48 hours; if it decides to take preservation measures, its implementation shall begin immediately. If the applicant fails to file a lawsuit or apply for arbitration in accordance with the law within thirty days after the people's court takes preservation measures, the people's court shall terminate the preservation. How long will it take for a car loan to be towed if it is overdue?

A car loan will be towed if it is 7 days overdue.

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 number of overdue days reaches 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.

Delaying car loan repayment for one month will affect your personal credit record and incur overdue fees and interest. According to my country's credit-related system regulations, a bad credit record will only occur if a loan or credit card is overdue for more than three times or is overdue for more than 90 days. These are automatically controlled by the system. If you only have no money for one month, you only need to pay off the loan principal and interest for the two months before the interest settlement date of the next month. However, between the interest settlement date of this month and the next interest settlement date, the unpaid interest will accrue penalty interest. According to my country's credit-related system regulations, bad records will only occur if interest is overdue for more than 90 days, and these are automatically controlled by the system. If you only have no money for one month, you don’t need to apply. You just need to pay off the interest for these two months before the interest settlement date of the next month. However, between the interest settlement date of this month and the next interest settlement date, the unpaid interest will accrue penalty interest.

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. When can I get a tow truck if my car loan is overdue?

Regarding the poster’s concern about “When can I get a tow truck if my car loan is overdue?” The following is my personal opinion:

If your car loan is overdue for 3 months, you can get a tow truck. Those who know how to tow cars:

1. Something will happen if the car loan is overdue. After all, this is a bad event. The impact of an overdue car loan will depend on the specific situation. If you apply for a loan with an auto finance company, your credit report will not be reported if it is overdue;

2. If you apply for a loan directly with Industrial and Commercial Bank of China, it will be considered overdue. Even if it exceeds one day, it has exceeded the repayment time stipulated in the contract, and will be automatically recorded as overdue by the bank, and will be automatically entered into your credit system;

3. You can call customer service to confirm. , this is shown on your personal credit report, but there is no need to panic in this case. As long as you repay the loan immediately on the second day after the overdue payment, the overdue time is not long, and it is not considered a malicious overdue payment. You can call ICBC staff and explain your situation. Bank staff will consider changing your credit record at their discretion. When can a car be towed if the car loan is overdue

Only when the car loan is overdue for more than 3 months will the bank, car finance company or car loan company be able to tow the car and detain it. Before a tow truck can be impounded, there must be a court order transferring the car's disposition to the lender. The lender impounds the vehicle and auctions it off, and the money from the sale can be used to offset the remaining car loan.

Therefore, if the car loan is overdue, as long as the outstanding amount is paid in time, the lending institution will generally not seize the car.

If the car loan is overdue for three months, it will be towed:

1. Something will happen if the car loan is overdue. After all, this is a bad event. What are the consequences of an overdue car loan? , this depends on the specific situation. If the loan is handled with an auto finance company, the credit report will not be reported if it is overdue;

2. If the loan is handled directly with the Industrial and Commercial Bank of China, it will be considered overdue. Even if it exceeds one day, it still exceeds the repayment time limit in the contract, and it will be automatically recorded as overdue by the bank and automatically entered into the credit reporting system;

3. You can call customer service to confirm. This is shown on the personal credit report, but there is no need to panic in such a situation. You only need to repay the loan immediately on the second day after the overdue payment. The overdue time cannot be considered long, and it cannot be regarded as a malicious overdue payment. You can call ICBC staff and explain the situation. Bank staff will consider changing credit records at their discretion. (Pictures/Text/Photography: Li Linwei) @2019