My car loan is two years. Why does the contract with the bank expire in eight years?
Because it was the vehicle retirement period, the other party was to avoid risks. The bank is afraid that if you don't repay the loan after the loan time, others will be at risk. In fact, after you repay the loan, you have already completed the transaction between the two parties, and you can also apply for a certificate of repayment completion again, which is beneficial to both parties.