Confirm whether the loan has been settled. If the loan has been settled, you can take your ID card, driver's license and repayment details to the 4S shop to get back the motor vehicle registration certificate, that is, the big green paper, the car purchase invoice and your original insurance. Don't forget to decompress the contract and apply for the settlement certificate at the same time, so that you can show your proof materials to the loan bank or financial institution.
There are also repayment cards for bank loans, usually credit cards. After the car loan is paid off, you can cancel this card by the way.
2. Go to the DMV to cancel the mortgage status of your vehicle.
When going to the vehicle management office to cancel the vehicle mortgage, you need to bring the motor vehicle registration certificate, the loan repayment certificate issued by the loan structure, the lender's organization code, the application form for motor vehicle mortgage change, the power of attorney, the identity card of the motor vehicle owner and other materials. With all the information, you can go through the formalities of vehicle decompression. This is very simple.
Remember to go to the insurance company for the first beneficiary.
The first beneficiary of general auto insurance is the lending institution. Of course, as soon as the loan is paid off, we will change the first beneficiary to ourselves.
4: Dismantle the GPS
Regarding GPS, some loan vehicles will be installed, some will not be installed at all, and some vehicles will be installed with GPS without the owner's knowledge, so after paying off the loan, you should find out whether it is installed or not. If it is already installed, you can go to the 4S store and take down the GPS positioning device.
At present, there are many ways to buy a car by loan, including factory finance, banks, financial institutions, credit cards, flower beds and so on. Therefore, some friends have their own green papers and car purchase invoices even if they borrow money, and the beneficiaries of auto insurance are themselves. The key depends on how to choose the loan method. The loan method is different and the procedures are different.
Summary: It is common to buy a car with a loan. After paying off the car loan, you need to check the ownership of the car and go through various procedures.