After the car loan is paid off, you need to go through two procedures. First, go to the bank to apply for a loan settlement certificate, which proves that you have paid off the loan in full. Secondly, go to the vehicle management office to apply for the cancellation of the mortgage. Procedure, that's it.
Pay off the car loan.
Although the car loan has been paid off, the car does not yet belong to you! There are still a few things to do:
1. Contact the lending bank or financial institution and get back the car book (vehicle registration certificate) and loan settlement certificate;
2. Go to the car The management office releases the loan mortgage (it must be released at the place where the vehicle is registered, and cannot be released in another place);
What do I need to bring to cancel the loan mortgage?
1. ID card of the vehicle owner;
2. "Motor Vehicle Registration Certificate";
3. "Loan" issued by the loan company (or bank) "Settlement Certificate";
4. The original business license of the loan company (or bank);
5. If the loan company (or bank) does not send staff to help release the mortgage, the A letter of authorization issued by the loan company (or bank) to the car owner is required.
After repaying the loan, you must remember to do the above things. Otherwise, although you bought the car, it does not yet belong to you, thus avoiding future troubles.
1. Buy a car with a loan.
1. Low loan interest rates: Taking China Construction Bank as an example, its latest car loan interest rates in 2016, the total interest rates for 1-year, 2-year and 3-year terms are 4, 8, and 12. If you want to buy a car worth 200,000 yuan, you need to make a down payment of 100,000 yuan and pay off the remaining 100,000 yuan over a two-year period. In the end, the consumer actually pays 208,000 yuan.
2. The threshold is high, the procedures are cumbersome, and the loan time is long.
When car buyers apply for car consumer loans, banks often require car buyers to provide a series of supporting documents: ID card, employment certificate, bank statements for the past year, social security certificate for more than two years (inclusive), Real estate certificate or house sales contract or house purchase invoice, etc.; third-party guarantees and pledges are also required.
3. Car loans will occupy credit lines, and now the credit lines approved by banks are relatively limited. Even the previously popular home loans have been reduced by many banks; on the other hand, the procedures for traditional car loan business It is relatively complicated, and at the same time, the interest rate is relatively high and not very attractive.
2. Buy a car in installments with a credit card.
As long as the car buyer has a credit card that can apply for a car loan, the credit card application procedure is relatively simple, and there is no need to provide corresponding property guarantees, eliminating the need for tedious procedures such as intermediary notarization and additional Costs place an increased burden on consumers.
Different automobile 4S stores need to submit different materials. For example, a 4S store said: "It requires nearly half a year's salary statements, mobile banking, and filling in some related forms." Another 4S store said that it only needs to provide salary statements and social security cards. If it is a civil servant, a state-owned enterprise, For the customer groups of public institutions, loan approval efficiency will be relatively high.