Is there a fee for vehicle release from mortgage?
3 Answers
Vehicle release from mortgage does not require any fees. If you encounter a situation where a 4S dealership charges a vehicle release fee for various reasons, you can first negotiate with them. If that doesn't work, you can file a complaint by calling the 12315 consumer hotline. Below are the relevant documents required for processing vehicle release from mortgage: The procedure is mainly divided into the following steps: 1. After repaying the loan, you can retrieve the relevant documents from the bank, which will then issue a "loan settlement certificate." 2. With this loan settlement certificate, you can go to the vehicle registration office (DMV) to process the release from mortgage. Note that the DMV is only open on weekdays and closed on weekends. Therefore, it's best to schedule an appointment online in advance to avoid a wasted trip. 3. After submitting all the documents on the same day, you will need to wait approximately seven days to receive the certificate. Only after obtaining the certificate will the vehicle be truly yours.
When I finished paying off my car loan and went to release the mortgage, the bank said they would charge a service fee of around 200 yuan, which surprised me because I thought it was free. Later, when I went to the vehicle management office to cancel the mortgage, I paid another registration fee of about 100 yuan, and then I realized that these steps all involve fees. Remember to bring the loan repayment proof and your original ID card, otherwise, you’ll waste time running back and forth. I suggest car owners call the bank’s customer service in advance to ask about the specific fees, as different banks may differ by tens of yuan. When I went through the process last year, the bank also charged a photocopying fee, which cost me a little extra unexpectedly. But overall, it went smoothly. Just a reminder to everyone to check the receipts to avoid being overcharged—fees are normal, but transparency should be ensured. The whole process took about two hours, and making an appointment with the vehicle management office in advance can save a lot of time.
After years of driving, I've seen many car owners dealing with loan release fees. It generally involves bank service charges and government department fees. Banks usually charge a few hundred yuan as service fees, while the vehicle management office has fixed processing fees ranging from 100 to 200 yuan. Fees tend to be lower in smaller cities, while larger cities may charge slightly more but with transparent, standardized rates. When I helped a neighbor with the process before, I found it's better to visit the bank counter directly to clarify all charges rather than using intermediaries to avoid extra costs. Nowadays, the online appointment system has simplified procedures and reduced potential fees. Last year, I saw some car owners sharing information about special offers waiving service charges, though such cases were rare. While fees are inevitable, it's reasonable to question charge items to protect your rights. Having all documents prepared can prevent additional expenses.
