First of all, after the loan is paid off, the borrower needs to go to the lending institution to apply for the loan settlement certificate with his personal identity certificate and relevant loan contract. After the borrower completes the loan settlement certificate, he will go to the local vehicle management office to cancel the registration of automobile mortgage with this certificate and other relevant certificates.

Specifically, it includes the Application Form for Motor Vehicle Mortgage Registration/Pledge, the original and photocopy of the identity certificates of the motor vehicle owner and mortgagee, the motor vehicle registration certificate, and the relevant documents of mediation, ruling and judgment of the people's court to cancel the mortgage. With the above materials and the loan contract signed with the lending institution, you can go to the vehicle management office to cancel the mortgage registration.

After the general car loan is paid off, it is necessary to go through the mortgage cancellation procedures, and the car can be truly transferred to its own name, so that individuals can own the ownership of the car. After paying off the car loan, the borrower must go through the mortgage cancellation registration formalities at the vehicle management office and get back the car property certificate, so that the car really belongs to him.

Extended data:

Auto loan refers to the loan issued by the lender to the borrower who applies for buying a car, also called auto mortgage. The borrower has a stable occupation, the ability to repay the principal and interest of the loan, and good credit; Can provide recognized assets as collateral or pledge, or a third person with sufficient compensatory ability as a guarantor to repay the principal and interest of the loan and bear joint liability. The maximum loan amount generally does not exceed 80% of the price of the purchased car.

References:

Auto loan _ Baidu Encyclopedia