Will a one-day overdue repayment of BMW car loan affect credit record?

[DiLayla]

Overdue repayment of BMW car loan for one day will affect personal credit record. Overdue repayment will incur interest and affect credit record, and in severe cases, may lead to lawsuits or imprisonment. Introduction to overdue repayment: Overdue repayment refers to the situation where the consumed amount is not deposited into the designated account in full and on time beyond the final repayment deadline stipulated by the bank. Grace period for overdue repayment: Generally, banks charge a certain amount of interest for overdue repayments, and the rates vary among banks, usually at 0.05%. However, the interest calculation starts from the date of consumption, not from the date after the final repayment deadline. If unable to repay the full amount, the minimum repayment can be made first, which will not affect the credit limit. At the same time, there will be a grace period to facilitate the bank's timely understanding of the account's fund flow, and the account will not be frozen.