Where to go for vehicle loan release after repayment?
1 Answers
After fully repaying the vehicle loan, the owner needs to go to the vehicle management office for the release of mortgage. Since the borrower (the vehicle owner) registered the mortgage at the vehicle management office when obtaining the loan for vehicle purchase, the loan mortgage release must also be processed at the same office. Additional information: Below is an introduction about vehicle loans: 1. Auto loan, commonly referred to as "car loan" in the context of "mortgage and car loans," is formally called auto consumer credit or auto mortgage. It refers to the loan issued by lenders to borrowers applying to purchase vehicles. 2. Only vehicle owners who meet the borrower qualification requirements can become eligible borrowers. Specifically, they must be permanent residents with full civil capacity in the area where the loan is issued. Vehicle owners must satisfy all these conditions simultaneously to qualify as auto loan borrowers. The term for auto consumer credit typically ranges from 1 to 3 years, with a maximum duration not exceeding 5 years.