Just because the mortgage is used to buy a car and the car loan is paid off does not mean that the car is our own. We're going to the DMV to learn about the mortgage and other related procedures. If you don't do it, you can't transfer it normally and you can't sell it to others. Buying a car with a credit loan does not require any operation. There are exceptions to everything. Let me talk about something called "credit loan" first. In this way, after the loan is repaid, there is really no need for any operation. To buy a car by mortgage, you need to go through the mortgage formalities and get back the Green Paper. All right, let's talk about it again. In addition to bank credit loans, car loans made by manufacturer finance or other financial companies are generally mortgage loans. When buying a car, the green book will be taken away, but it will not be given to us. Therefore, the 1 thing after the loan repayment is completed is to go to the place where the loan was handled or the 4S shop to get back the Green Paper. It should be noted that you should take the Green Paper, don't take it and leave, and ask them to issue a "loan settlement certificate"
Go to the vehicle management office to learn about the storage procedures. Don't think that everything will be fine if you get it. What the DMV has to do is called "release procedure". University of international business and economics Zhang Liming's master's thesis, "Research on the Legal Environment of Automobile Consumption Credit in China" shared with you, said above. In the installment sale of automobile mortgage, the ownership of the automobile belongs to the buyer, but the automobile needs to be mortgaged as the seller's residual creditor's right. In the local dialect, after we get the green copy, the mortgage registration information will still be written on it, which can be used but not sold. After the release, these cars will truly belong to us. Not only can you use it for yourself, but you can also sell it to whoever you want, and you can turn it in and out.
Go to 4S shop to dismantle GPS
Actually, there is one thing to pay attention to. Sometimes we buy a car and apply for a loan. Maybe our credit record is not particularly good, at least that's what they say. Just installed the global positioning system for us. It has a location. If it goes beyond a certain area or something, it will call the police or something. This thing needs to be removed by the lender or 4S shop. You think there is 1 in the car, but it may have been dismantled. In fact, there may be three in the car, and the exposed one may be a "smoke screen."
After the car loan is paid off, take the green paper first, and then go through the formalities of canceling the mortgage.
So generally speaking, after paying off the loan, the mortgaged car will get the Green Paper first, and then go to the vehicle management office to understand the mortgage procedures.
But if you buy a car with a credit loan, the Green Paper is in your own hands and you don't need to do anything else.