1. After the car loan is paid off, the mortgage cancellation registration is required. The borrower should go to the local dmv to cancel the mortgage registration, and then get back the car title certificate, so that the car will truly belong to the owner. When going through the mortgage cancellation registration procedures, you must prepare the valid identity documents of the borrower, the applicant and the vehicle owner, the loan contract signed with the bank, the repayment card, the original motor vehicle registration certificate and other materials.

2. Legal basis: Article 394th of the Civil Code of People's Republic of China (PRC).

In order to guarantee the performance of the debt, if the debtor or a third party mortgages the property to the creditor without transferring the possession of the property, if the debtor fails to perform the due debt or realize the mortgage right according to the agreement of the parties, the creditor has the right to be paid in priority for the property.

The debtor or the third party specified in the preceding paragraph is the mortgagor, the creditor is the mortgagee, and the property that provides guarantee is the mortgaged property.

Article 395

The following properties that the debtor or a third party has the right to dispose of may be mortgaged:

Buildings and other land attachments;

Second, the right to use construction land;

(3) the right to use the sea area;

(4) Production equipment, raw materials, semi-finished products and products;

(5) Buildings, ships and planes under construction;

(6) means of transportation;

(seven) other property not prohibited by laws and administrative regulations.

The mortgagor may mortgage the property listed in the preceding paragraph together.

Second, what are the procedures for buying a car with a loan?

Buying a car with a loan requires the following procedures:

1. The buyer needs to provide valid identity documents, which are acceptable to temporary id card;

2. If married, a copy of marriage certificate and spouse's ID card is required;

3. proof of residence: you need to provide proof of residence in your permanent residence, such as the electricity bill for the past 6 months. If you have real estate in your permanent residence, you need to provide real estate license;

4 proof of work and income, and provide proof of income stamped with the official seal of the work unit.