After paying off the car loan, the borrower must go through the mortgage cancellation registration formalities at the vehicle management office and get back the car property certificate. When handling the mortgage cancellation registration procedures, the following materials must be prepared:

Valid identity documents of the borrower, the applicant and the vehicle owner;

The loan contract signed with the bank;

Loan repayment card;

Original motor vehicle registration certificate

Extended data:

Car loan:

Refers to the loan issued by the lender to the borrower who applies for car purchase. Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers.

The interest rate of automobile consumption loan refers to the ratio of the loan amount to the principal given by the bank to consumers, that is, borrowers, for purchasing their own cars (non-profit family cars or commercial vehicles with less than 7 seats).

The higher the interest rate, the greater the repayment amount of consumers.