With the improvement of people's living standards in China in recent years, people's enthusiasm for buying a car is growing. Most of us will choose to buy a car by stages, but do you think everything will be fine when the car loan is paid off? If you really think so, it's all wet. When our car loan is paid off, we still need to go through the formalities of vehicle release.
First, cancel the mortgage.
Buying a car with a loan is to mortgage the vehicle registration certificate (that is, a green copy) of the vehicle to the lending institution, but the car and driving license are still in their hands, so many people will mistakenly think that the money is enough. In fact, I have to go to the lending institution to cancel the mortgage and get the Green Paper back.
Materials required for vehicle release procedures.
Vehicle registration certificate
Original application form for motor vehicle mortgage registration/pledge filing, and stamped with the official seal of the mortgagee.
Identity certificates and photocopies of motor vehicle owners and mortgagees.
Power of attorney of mortgagee with official seal
Specific process
1. About 10 working days after paying off the last car loan, contact the loan bank in time, handle the loan settlement certificate, and get back the vehicle registration certificate and the car purchase invoice mortgaged in the bank.
2. Take all relevant materials and go to the local vehicle management office to learn about the mortgage procedures. When the formalities are completed, the ownership of the vehicle will really return to us.
2. Handling insurance changes
During the period of vehicle mortgage, although the name of insurance is self, the beneficiary is the lender, so after understanding the mortgage procedures, the insurance beneficiary has to change. Usually, in the process of decompression, the insurance change procedures will be handled by the way, which can save the trouble of running the insurance company again.
Second, the car loan has been paid back. What needs to be done later?
This is very simple, just spend some money to go to the notary office for notarization, which is protected by law. Just write that she gave you the car and will transfer it to you after the loan is repaid. The notary office will teach you how to make an agreement.
3. What procedures do I need to go through after the car loan is paid off?
After paying off the car loan, you need to go through the mortgage cancellation procedures. The specific procedures and required documents are as follows:
1. After the loan is paid off, you need to get the vehicle registration certificate from the bank. Banks need to provide organization code certificate (with official seal) and power of attorney, that is, entrust the owner to carry the registration certificate to handle the mortgage cancellation business (with official seal);
2. The owner shall handle the mortgage cancellation business with the above three materials. After handling, the registration certificate will indicate the cancellation of mortgage in the registration column, the registered bank no longer owns the vehicle, and the vehicle is officially owned by the owner; After paying off the car loan, the borrower must go to the vehicle management office to cancel the mortgage registration and get back the car property certificate, so that the car really belongs to you. 1, valid identity documents of the borrower, the applicant and the vehicle owner required for mortgage cancellation; 2. The loan contract signed with the bank;
3. Loan repayment card;
4. Original motor vehicle registration certificate.
4. What should I do after paying off the car loan?
With the improvement of people's living standards in China in recent years, people's enthusiasm for buying a car is growing. Most of us will choose to buy a car by stages, but when the car loan is paid off, you think everything will be fine, which is all wet. We'll go through the formalities after we pay off the car loan.
First, cancel the mortgage.
Buying a car with a loan is to mortgage the car to a lending institution, but you still have the car and driving license, so it's ok. In fact, I have to go to the lending institution to cancel the mortgage and get the Green Paper back.
Materials required for vehicle release procedures.
Vehicle registration certificate
Original application form for motor vehicle mortgage registration/pledge filing, and stamped with the official seal of the mortgagee.
Identity certificates and photocopies of motor vehicle owners and mortgagees.
Power of attorney of mortgagee with official seal
Specific process
1. After paying off the last car loan, 10 got in touch with the working loan bank and handled the loan settlement certificate, which was consistent with the certificate and the car purchase invoice.
2. Be responsible for the formalities. When the formalities are completed, the ownership of the vehicle will really belong to us.
Second, apply for insurance.
During the period of vehicle mortgage, although the name of the insurance is self, the beneficiary is the lender, so it is often troublesome to change the insurance to the insurance company during the decompression process after going through the mortgage formalities.