1. After the car loan is paid off, you should call the bank to confirm that the loan has been paid off, and make an appointment to go to the bank to retrieve relevant information and apply for the car loan settlement certificate.
2. It is very important to cancel the mortgage registration at the DMV. Mortgage registration is to prevent banks from buying and selling vehicles during the loan process, so your car will be marked as a mortgage car in the vehicle management office system. Only after we cancel the mortgage registration can we buy and sell vehicles with cars. Then we can get the big green book back.
3. Change the name of the insurance and change the beneficiary of the insurance letter to myself. After we change the beneficiary to ourselves, in case of any accident in the future, the compensation amount can only be paid to our account.
4. Remove the GPS locator. Before taking out a loan to buy a car, the bank will install GPS in your car. Only by tearing it down can you guarantee your privacy.