What are the procedures for early repayment of car loans?

[StAmara]

The procedures for early repayment of car loans are: 1. Apply for early repayment in advance: Since car loans generally have a three-year repayment term, if the car owner wants to make an early repayment, they need to make an appointment with the bank in advance. It cannot be processed on the same day by simply going to the bank counter; 2. Pay a penalty fee: Generally, car loans can only be repaid early after six months or more. If the loan period is less than six months, most banks will charge a certain penalty fee; 3. Number of early repayments: Generally, banks do not limit the number of early repayments, and there are two repayment methods. The car owner can choose to repay the entire loan at once or make a partial repayment; 4. There are two methods for partial repayment: one is to keep the original loan term unchanged in the contract and only reduce the monthly repayment amount, and the other is to reduce the loan term while keeping the monthly payment unchanged.