The significance of vehicle decompression is actually relative to vehicle mortgage, that is, the significance of lifting vehicle mortgage.
We buy a car by stages, in fact, we obtain the corresponding loan amount through vehicle mortgage, and then repay it by stages. In the process of repaying the loan, the vehicle will be mortgaged until the loan is paid off.
Decompression of mortgaged vehicles refers to the registration of motor vehicles purchased by mortgage loans, that is, the mortgage is cancelled at the vehicle management office when the mortgage is eliminated.
According to the provisions of the motor vehicle registration:
Twenty-second motor vehicle owners who use motor vehicles as collateral shall apply for mortgage registration at the vehicle management office where they are registered; If the mortgage right is extinguished, it shall apply to the vehicle management office at the place of registration for cancellation of mortgage registration.
Article 23 To apply for mortgage registration, the motor vehicle owner shall fill in the application form, which shall be jointly applied by the motor vehicle owner and the mortgagee, and submit the following documents and vouchers:
(a) the identity certificate of the motor vehicle owner and the mortgagee;
(2) Motor vehicle registration certificate;
(three) the main contract and mortgage contract concluded by the motor vehicle owner and the mortgagee according to law.
The vehicle management office shall, within one day from the date of acceptance, review the submitted documents and vouchers, and annotate the contents and date of mortgage registration on the motor vehicle registration certificate.
Article 24 Apply for cancellation of mortgage registration
(a) the identity certificate of the motor vehicle owner and the mortgagee;
(2) Motor vehicle registration certificate.
If the people's court mediates, makes a judgment or orders to cancel the mortgage, the owner or mortgagee of the motor vehicle shall fill in the application form and submit the motor vehicle registration certificate, the effective mediation, ruling or judgment issued by the people's court, and the corresponding notice of assistance in execution.
The vehicle management office shall, within one day from the date of acceptance, review the submitted documents and vouchers, and annotate the contents and date of cancellation of mortgage registration on the motor vehicle registration certificate.