When will the car loan be automatically deducted on the same day?

The deduction time of car loan repayment date is not necessarily, and different banks will have different deduction time, but no matter when it is, it is usually deducted only once on the same day. On the repayment date, the system will automatically deduct the car loan before 24 o'clock on the repayment date. But in fact, the lender will have a fixed deduction period, such as around 8 am or 5 pm.

The car loan will be deducted before 23: 59 at the latest, but in order to avoid overdue repayment, the user had better deposit the repayment amount into the bank card before the repayment date, and at the same time, it can avoid the failure of deduction due to late arrival.

If you don't know your deduction time, you can deposit the funds into the bank card one day in advance, or open a SMS reminder. Once the deduction is successful, the bank will send a short message to remind the lender at the first time.

As for the failure of the day's deduction, whether the system will initiate a second deduction depends on the provisions of the lending institution. For example, banks may deduct money twice on the same day, while auto financing companies only deduct it once a day.

If the deduction on the repayment date is unsuccessful, but the car loan generally has a grace period for repayment, which is usually 3-5 days. If repayment can be made within the grace period, it will be regarded as normal repayment.

Car loans need to meet the following conditions:

1, with valid identification and full capacity for civil conduct;

2. Can provide a fixed and detailed address certificate;

3. Have a stable occupation and the ability to repay the loan principal and interest on schedule;

4. Personal social credit is good;

5. Holding a car purchase contract or agreement approved by the lender;

6. Other conditions stipulated by the Cooperation Organization.

The process of buying a car with a loan:

1. Lead customers to choose cars at the bank's special dealers and sign car purchase agreements or contracts;

2. The borrower applies to the loan bank for personal automobile mortgage;

3. Sign the contract with the consent of the investigation;

4. Go through the formalities of notarization and mortgage of automobiles;

5. The lender handles the loan;

6. After the loan is paid off, the lender cancels the pledge certificate and returns it to the customer.