Generally speaking, Bank automobile mortgage will keep your car purchase invoice and vehicle use registration certificate in the bank. After paying off the loan, the cancellation of vehicle mortgage registration does not require an invoice, but a vehicle use registration certificate and a loan repayment certificate issued by the bank.
After the car loan is paid off, go through the formalities:
1. Get the vehicle registration certificate back. Buying a car by stages means putting the vehicle as collateral in a banking institution to apply for a loan. Therefore, after the car loan is paid off, the first thing to do is to retrieve the motor vehicle registration certificate and the loan settlement certificate from the bank, such as the bank car loan loan contract and the car loan repayment certificate. It is best to call the customer service phone of the bank or institution in advance to ask clearly, so as to avoid a trip in vain.
2. The next step to get the motor vehicle registration certificate and loan settlement certificate is to go to the vehicle management office to get the motor vehicle mortgage cancellation registration, fill out the Application Form for Motor Vehicle Mortgage Cancellation Registration in the corresponding window, and then submit the prepared materials, so that the motor vehicle mortgage cancellation registration can be processed. The registered bank no longer owns the vehicle, but belongs to the owner.
3. The last step is to change the first beneficiary of auto insurance. Previously, limited by the conditions set by the lending institutions, the first beneficiary of buying auto insurance was sometimes the lending institution, so don't forget to change the first beneficiary of insurance to myself after all the car loans are settled. You must remember this step, and don't get lost in the procedure of how to apply for a car loan.