Texting that the car loan is overdue, really?

1. The contract stipulates that the repayment method and overdue treatment method will be clearly stipulated in the car loan contract. Once overdue for more than a certain period of time, banks or lending institutions have the right to take corresponding measures according to the contract, including taking back the car.

2. Realization of mortgage: In car loan, the vehicle is used as collateral, and the borrower does not repay the loan. As the mortgagee, the bank or lending institution has the right to realize its mortgage right according to law and take measures to recover the vehicle.