After the car loan is paid off, you must remember to cancel the mortgage. Usually, the car does not belong to the individual before the transfer of ownership, and the ownership still belongs to the lending institution, so it is very important to handle the mortgage cancellation business.

The process is as follows: 1. After the loan is repaid, go to the bank to get the vehicle registration certificate. The bank needs to provide the bank's organization code certificate (with official seal) and a power of attorney. The content of the power of attorney is to entrust the car owner to carry it with him. The registration certificate is used to handle the mortgage cancellation business (stamped with the official seal). 2. The car owner brings the above three materials to handle the mortgage release business. After the process, the registration certificate will indicate "mortgage release" in the registration column. The registration bank no longer owns the vehicle, and it officially belongs to the owner personally.

A car loan refers to a loan issued by a lender to a borrower who applies to purchase a car. Car consumption loans are a new loan method that banks issue RMB-guaranteed loans to car buyers who purchase cars at their authorized dealers. The interest rate of automobile consumer loans refers to the ratio of the loan amount to the principal issued by the bank to consumers, that is, borrowers, for the purchase of self-use cars (non-profit family cars or commercial vehicles with 7 seats or less (inclusive)). The higher the interest rate, the greater the repayment amount the consumer will have to pay.