There is no limit to the specific amount of loan penalty.

According to Article 1 14 of the Contract Law, the parties may agree on the calculation method of a certain amount of liquidated damages or loss compensation.

If the agreed liquidated damages are lower than the losses caused, the parties may request the people or the arbitration institution to increase them;

If the agreed liquidated damages are excessively higher than the losses caused, the parties may request the people or the arbitration institution to reduce them appropriately.

Extended data

responsibility for breach of contract

There are usually two kinds of liability for breach of contract stipulated by law: one is down payment and the other is liquidated damages.

If the deposit is paid, the breaching party shall bear the liability for breach of contract of double deposit.

In the case of liquidated damages, the law allows both parties to agree, and the upper limit has not yet been determined.

However, in judicial practice, 30% of the contract amount is generally used as the upper limit of liquidated damages, and it is generally not supported beyond this amount.

In addition, the deposit and liquidated damages can only be used as a breach of contract. If there are both in the contract, the breaching party will bear a higher amount of liability for breach of contract.

Paragraph 2 of Article 1 14 of the Contract Law stipulates that if the agreed liquidated damages are lower than the losses caused, the parties may request an increase; If the agreed liquidated damages are excessively higher than the losses caused, the parties may request an appropriate reduction.

However, liquidated damages are an estimate of the possible losses caused by one party's breach of contract when signing the contract, which is not completely consistent with the actual losses of the observant party after breach of contract;

Therefore, it can be decided by the judge. The law stipulates the pre-agreed liquidated damages, which not only exerts psychological pressure on the parties, but also avoids the trouble of calculating the loss and proving the size of the loss after the parties breach the contract.

So that the parties can quickly determine their specific responsibilities.

Therefore, if the parties need to increase the amount of breach of contract, or the liquidated damages are too higher than the losses, they need to bear the responsibility of proving the size of the losses.

Two, the loan company liquidated damages is legal, how much is legal?

There is no limit to the specific amount of loan penalty.

According to the provisions of Article 1 14 of the Contract Law: gold, the calculation method of loss compensation can also be agreed.

If the agreed liquidated damages are lower than the losses caused, the parties may request the people to increase them;

If the agreed liquidated damages are too high, the parties may request the people or the arbitration institution to reduce them appropriately.

Extended data

responsibility for breach of contract

There are usually two kinds of liability for breach of contract stipulated by law: one is down payment and the other is liquidated damages.

If the deposit is paid, the breaching party shall bear the liability for breach of contract of double deposit.

In the case of liquidated damages, the law allows both parties to agree, and the upper limit has not yet been determined.

However, in judicial practice, 30% of the contract amount is generally used as the upper limit of liquidated damages, and it is generally not supported beyond this amount.

In addition, only one deposit and liquidated damages can be used, and the high amount will generally be used.

Paragraph 2 of Article 1 14 of the Contract Law stipulates that if the agreed liquidated damages are lower than the losses caused, the parties may request an increase; The agreed liquidated damages are too high, and the losses caused are appropriately reduced.

However, liquidated damages are an estimate of the possible losses caused by the parties, which is not completely consistent with the actual losses of the observant party after breach of contract;

Therefore, it can be decided by the judge. The law stipulates that liquidated damages not only exert psychological pressure on the parties, but also cause calculation errors and the trouble of the parties' loss of proof.

So that the parties can quickly determine their specific responsibilities.

Therefore, if the parties need to increase the amount of breach of contract, or the liquidated damages are too higher than the losses, they need to bear the responsibility of proving the size of the losses.

Third, is it legal for the car loan prepayment guarantee company to charge 10% as penalty?

Legal.

Whether it is necessary to pay liquidated damages for early repayment of car loan depends on the relevant provisions in the car loan contract. Every car loan contract will explain in detail the related matters of early repayment. Under normal circumstances, car loans can be repaid in advance within a certain period of time, and there is no handling fee. However, if the repayment is made in advance before the prescribed time limit, a certain handling fee will be paid.

4. If the loan defaults, the liquidated damages required by the loan company shall be 20% of the loan amount. ...

Is there a contract? Look at the contract