After the borrower repays the car loan, he must go to the vehicle management office to go through the mortgage release registration procedures and obtain the car title certificate.

When going through the mortgage release registration procedures, you must prepare the following information:

1. Valid identity documents of the borrower applicant and vehicle owner;

2. Loan title signed with the bank;

3. Loan repayment card;

4. Original motor vehicle registration certificate.

A car loan refers to a loan issued by a lender to a borrower who applies to purchase a car, also called a car mortgage.

Loan target: The borrower must be a permanent resident of the location where the loan bank is located and have full civil capacity.

Loan conditions: The borrower has a stable career and the ability to repay the principal and interest of the loan, and has good credit; can provide recognized assets as collateral or pledge, or a third party with sufficient repayment capacity to repay the principal and interest of the loan. and assume joint liability as a guarantor.

Loan amount: The maximum loan amount generally does not exceed 80% of the selling price of the purchased car.

Loan term: The term of automobile consumer loans is generally 1-3 years, with a maximum of no more than 5 years.

Loan interest rate: uniformly stipulated by the People's Bank of China.

Loan repayment method: You can choose the one-time principal and interest repayment method and the installment repayment method (equal principal and interest, equal principal).

An automobile finance or guarantee company is what is mentioned in the article - a third party with sufficient repayment capacity serves as the guarantor for repaying the principal and interest of the loan and assumes joint liability.

Reference: Car loan (Baidu Encyclopedia)