2. After the car loan is paid off, you can go to the vehicle management office to decompress in a week or so.
Before decompression, the bank may contact you to help you with decompression procedures. As the agent will charge a service fee, I suggest you do it yourself sometime.
After the car loan is paid back, you can usually go to the vehicle management office to decompress in a week or so. After the car loan is paid off, the user needs to get the car registration certificate, which will be sent to the user by the 4S shop or bank. If it is convenient for the user, he can also go to the business hall to get it himself. After that, the user needs to cancel the mortgage with the car registration certificate, loan settlement certificate and related materials to the vehicle management office.
After the mortgage is released, the vehicle will be owned by the user himself. At this time, you can buy and sell.
Vehicle release process:
1. After paying off the car loan, take my ID card, driver's license and repayment details to the bank or auto financing company to retrieve my motor vehicle registration certificate, car purchase invoice, original car insurance, etc. Finally, apply for the car loan settlement certificate.
2. To cancel the vehicle mortgage at the vehicle management office, the materials to be carried include the motor vehicle registration certificate, the loan repayment certificate issued by the lending institution, the organization code of the lender, the application form for motor vehicle mortgage change, the power of attorney, and the identity card of the motor vehicle owner.
Through the above two steps, the vehicle can be released. After the release, it means that the ownership of the vehicle belongs to itself, but it still needs to go through some formalities. Need to go to the insurance company to change the first beneficiary of auto insurance and borrow money to buy a car. The first beneficiary of auto insurance belongs to a bank or a lending institution. Then, if the vehicle is equipped with a GPS positioning device, it needs to be disassembled in a 4S shop.
Generally speaking, there is no handling fee for handling the formalities after the car loan is paid off. Many people have encountered the situation of charging 500 or 300 handling fees, which can actually be carried out according to the contents of the contract. If there is no such relevant provision in the contract terms, the owner may refuse to pay.