Paying off the car loan cannot be extended in different places, and it must be handled at the vehicle management office where the vehicle is located and the bank or lending institution that lends the loan. Generally speaking, vehicles cannot be transferred on the day of release. After the vehicle release formalities are completed, there is a filing period of fifteen working days, after which the vehicle can be transferred.

Procedures required for vehicle transfer include: ID cards, driving licenses, vehicle registration certificates and vehicle arrival of both parties. It takes about 1 hour to complete the transfer.

Payment process of paying off car loans

1. After paying off the car loan, bring my ID card, driver's license and repayment details to the bank or auto financing company to retrieve my motor vehicle registration certificate, car purchase invoice, original auto insurance, etc. , and proof of applying for car loan settlement.

2. To cancel the vehicle mortgage at the vehicle management office, the materials to be carried include the motor vehicle registration certificate, the loan repayment certificate issued by the lending institution, the organization code of the lender, the application form for motor vehicle mortgage change, the power of attorney, the identity card of the motor vehicle owner, and so on.