It doesn’t matter how long the car loan is overdue

1. How long the car loan is overdue does not matter

1. How long the car loan is overdue is determined by the repayment grace period of the car loan. Many banks set it as 10 sky. The consequences of being overdue are:

(1) Failure to repay the bank within 1 month will incur penalty interest;

(2) The bank will notify you via text message if it is overdue for more than 1 month;

(3) For more than 3 months, the bank will notify you by phone or come to collect the debt;

(4) For more than 6 months, the bank will sue the court.

2. Legal basis: Article 563 of the "People's Republic of China and Civil Code"

The parties may terminate the contract under any of the following circumstances:

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(1) The purpose of the contract cannot be achieved due to force majeure;

(2) Before the expiration of the performance period, one of the parties expressly expresses or shows by its own behavior that it will not perform its major obligations;

(3) One party delays the performance of major debts and fails to perform within a reasonable period after being urged;

(4) One party delays performance of debts or commits other breaches of contract, resulting in the failure to achieve the purpose of the contract;

(5) Other circumstances stipulated by law.

For a non-scheduled contract with ongoing performance of debts, the parties may terminate the contract at any time, but must notify the other party before a reasonable period of time.

2. What evidence needs to be submitted for private lending disputes

1. Lending agreement or IOU;

2. If there is a guarantor in the lending relationship, the relevant guarantee Evidence;

3. Proof of delivery and receipt of money by both parties;

4. Proof of the purpose of the debtor borrowing the money;

5. The debtor shall pay Proof of interest;

6. If there is no interest agreement, the creditor requires the debtor to pay overdue interest, or if the debtor borrows money from time to time without interest and fails to repay it after being called upon, and the creditor requires repayment of the interest after the reminder, there should be a failure to repay it when it is due. Or evidence of failure to repay after being urged;

7. If the debtor's whereabouts are unknown, there should be relevant evidence proving the authenticity of the credit certificate and the payment of the debt;

8. Payment and interest certificates.