Paying back the car loan in advance requires a trip to the bank. After making an appointment with the bank, you can get back the relevant information. At the same time, the bank will issue a car loan settlement certificate. After obtaining the license, you can go through the mortgage cancellation procedures at the vehicle management office to which the vehicle belongs. It takes about one day to go through the mortgage cancellation procedures, which can only be done on working days. The DMV is closed on weekends. After submitting the relevant information to the staff, wait patiently for about seven days, and a green copy will be mailed to you. At this time, the vehicle truly belongs to itself.

Precautions for prepayment of auto loans:

1. prepayment requires an appointment: it is impossible to prepay as soon as you arrive at the bank. Advance repayment requires an appointment, and ordinary banks must make an appointment about 15 days in advance. Different banks have different regulations, which can be specifically targeted at the applicant bank.

2. Prepayment needs to bring relevant materials: Prepayment of auto loans needs to prepare relevant materials, including the applicant's ID card, loan contract signed with the bank, repayment application form filled out by the bank, repayment list of last month, prepayment agreement and other materials specified by the bank.

3. Repay in advance or pay part of the liquidated damages: Generally speaking, most banks charge liquidated damages for loans within one year, and the liquidated damages paid are still relatively high. Therefore, it is necessary to compare the expenditure of liquidated damages, interest and other funds, and then decide whether to repay the loan in advance.

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