How long will it take to pick up the car after it is overdue? Is it reasonable to pay the towing fee?

Legal analysis: if the car is overdue for three months, it will be charged and the towing fee will be paid. It is suggested to repay the arrears as soon as possible and redeem the car. Consequences of overdue car loan: Because it is a car mortgage, the car is mortgaged to the loan company. Therefore, if the borrower fails to repay the loan, the lending institution can auction the borrower's car directly to repay the loan. Prior to this, the lending institution would ask the borrower to repay many times, and there would be certain interest charges during the repayment period, which was a relatively high penalty interest, and the repayment pressure of the borrower would increase during this period.

It's relatively easy to handle automobile mortgage through a loan company, but the borrower should never be lucky enough not to repay the loan. Lending companies have plenty of ways to keep themselves from "losing money". Therefore, we should do what we can to avoid the phenomenon of inability to repay.

Previously, the automobile consumer credit business could not be widely carried out. Compared with ordinary automobile sales business, it is only suitable for a small number of people with credibility but lack of one-time payment ability. Therefore, organizers (dealers, banks, insurance departments) need to do detailed and comprehensive work, and provide consultants with "car purchase instructions" in the early stage of publicity.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 673 Where the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.

Article 674 The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.

Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.