I'll be fine after I pay off the car loan? Traffic police tip: the car is not yours until these four points are finished!
nowadays, with the increasing popularity of automobiles, more and more people buy cars. For most people, it is relatively easy to buy a car, but for those young people who just got married, the economic pressure brought by buying a car is still relatively large, but cars and houses are just needed for them, so many young people finally choose loans to buy a car. Although the loan to buy a car can not only meet everyone's daily needs, but also reduce the economic pressure, it is also more troublesome to operate. In addition to repaying the car on time every month, it is easy to expose your whereabouts. Moreover, after paying off the car loan, there are still many procedures that you need to go through. If you don't finish it, the car may not be your own. You'll be fine after you pay off the car loan? Traffic police: If these four points are not finished, the car will not be your own!
many people feel all right after paying off their car loans, but after several years, when they want to change their cars, they find that their cars can't be traded because they are still mortgaged, and it will be more troublesome to go through the formalities of canceling the mortgage at this time. And if you can't cancel the mortgage, then your car doesn't belong to you, because the "registration certificate" is still in the bank or financial company, and the record of the vehicle management office has not been lifted, so your car can't be traded. So what should we do after the car loan is paid off? To this end, the author consulted a traffic police friend, and then summed up the following four points, hoping to help everyone.
point one: get back the motor vehicle registration certificate, and handle the decompression contract and settlement certificate. After the car loan is repaid, you can go to the 4S shop (or the lender) to get back the registration certificate and handle the decompression contract and settlement certificate in about two weeks. The motor vehicle registration certificate is very important. It is just like our ID card, so without it, your car is a "black household" and it is impossible to trade and apply for scrapping. Before that, it's best to call your loan bank or financial company and bring relevant procedures, such as owner's ID card, motor vehicle driving license and repayment details.
point 2: the mortgage cancellation procedure. After retrieving your motor vehicle registration certificate, it is very important to go to the vehicle management office with it and the settlement certificate to cancel the mortgage, which is also very easy for many car owners to ignore. Because if you don't handle it, your car will always be mortgaged, so it can't be traded and applied for scrapping. When handling the mortgage cancellation procedures, it is necessary for the owner of the motor vehicle and the mortgagee to apply together, and to bring all your information. If someone else acts as an agent, you also need the identity certificate and power of attorney of the agent.
point 3: change the beneficiary of auto insurance. This is also easy for many car owners to ignore, because when buying a car with a loan, the beneficiary of car insurance is the lending institution, that is, the bank or financial company, so after the car loan is paid off, the car owner needs to change the beneficiary of car insurance to yourself. And if you don't change the beneficiary, the insurance company won't pay you if your car has an accident.
fourth point: dismantle the GPS positioning system. When you buy a car with a loan, the bank or financial company will install a GPS positioning system for your car, so after you repay the loan, you should dismantle it so as to protect your personal privacy. The traffic police reminded: Will it be all right after the car loan is repaid? If you don't finish these four o'clock, the car won't be yours!
Generally speaking, compared with the convenience of buying a car with a loan, it is more troublesome to cancel the mortgage, so there are still many procedures you need to go through after paying off the car loan, so don't think that you will be fine after paying off the car loan. As the traffic police friend said, if you don't finish these four points, the car will not be your own! Finally, what do you think about buying a car with a loan? Do you have any better suggestions?
This article comes from the author of Chejia, car home, and does not represent car home's standpoint.