According to Article 22 of the Regulations on Motor Vehicle Registration, if a motor vehicle owner mortgages a motor vehicle, he shall apply to the vehicle management office at the place of registration for mortgage registration; If the mortgage right is extinguished, it shall apply to the vehicle management office at the place of registration for cancellation of mortgage registration.
Article 24 Apply for cancellation of mortgage registration
(a) the identity certificate of the motor vehicle owner and the mortgagee;
(2) Motor vehicle registration certificate.
If the people's court mediates, makes a judgment or orders to cancel the mortgage, the owner or mortgagee of the motor vehicle shall fill in the application form and submit the motor vehicle registration certificate, the effective mediation, ruling or judgment issued by the people's court, and the corresponding notice of assistance in execution.
(1) What procedures should I go through after paying off the mortgage-free loan for vehicles?
Article 42 of the Regulations on Motor Vehicle Registration applies for the pledge or cancellation of the pledge of a motor vehicle. The motor vehicle owner and the pawnshop shall apply at the same time, and the motor vehicle owner shall fill in the application form and submit the following certificates and vouchers:
(a) the identity certificate of the owner of the motor vehicle and the pawnshop;
(2) Motor vehicle registration certificate.
The vehicle management office shall, within one day from the date of acceptance, review the submitted documents and vouchers, and annotate the contents and date of pledge filing or pledge cancellation filing on the motor vehicle registration certificate.
Finally, the loan is over. Does this car need to go through any formalities?
After the vehicle is repaid, whether to go through any formalities depends on what kind of loan the owner handles. If it is an unsecured credit loan, there is no mortgage before anyway, so after the loan ends, the relationship with the bank will automatically terminate without any formalities. Unsecured loan is a more reliable way, but the bank's audit requirements are strict when applying, and customers with better credit qualifications suggest choosing this kind of loan.
There is also a mortgage loan. This kind of loan generally needs to mortgage the vehicle title certificate or other valuable documents in financial institutions, and also needs to install GPS in the car. The cost of installing GPS is still borne by the owner.
Because this kind of loan is mortgaged by real estate, the requirements for inquiring the applicant's credit information are not so strict. At the same time, because of the high risk, the owner will be required to install GPS. After the loan is over, the owner needs to go to the financial institution to go through the formalities of unbinding, mainly to get back the mortgaged items. Be sure to remember how much material he mortgaged and how much material he wanted to get back.
The specific requirements of each financial institution are different, and car owners need to make records. Then, if someone installs GPS and wants to stay and continue to use it, it is necessary to confirm whether financial institutions will really stop supervising their vehicles. If you feel unreliable and want to dismantle it, then do all the formalities well and find a place to dismantle it yourself.