Who to Contact for the Vehicle Registration Certificate After Paying Off the Car Loan?
2 Answers
After paying off the car loan, you need to go to the vehicle management office to complete the vehicle mortgage release registration and collect the motor vehicle registration certificate. Here is some additional information: 1. Car Loan: A car loan refers to a loan issued by a lender to a borrower applying to purchase a car. The actual interest rate of the car loan is determined by the bank handling the loan based on the customer's actual situation, with reference to the loan benchmark interest rate set by the central bank. There are mainly three types of car loans: direct loans, indirect loans, and credit card car loans. The loan term is generally 1-3 years, with a maximum of 5 years. 2. Early Loan Repayment: According to bank regulations, customers who wish to repay their loans early need to submit a written application one week to one month in advance and agree on a repayment date. Then, on the agreed date, bring your ID card and the loan contract signed with the bank to the bank to fill out the loan repayment application form and the early repayment agreement. As required by the bank, deposit the amount to be repaid into the account for deducting loan principal and interest, which will be automatically deducted by the bank.
When I just paid off my car loan, I was super excited and couldn't wait to get the vehicle registration certificate back to prove the car was fully mine. Actually, this certificate was taken by the bank or financial institution as collateral when I first applied for the loan. After paying it off, they usually automatically send a mortgage release letter or directly return the registration certificate. I waited about one or two weeks before receiving the notification. If there's no news, you can directly call the loan customer service to check the status. After getting the certificate, it's best to visit the DMV to complete the mortgage release registration, so the ownership is completely transferred to me. The whole process is quite simple, but don't delay too long, otherwise if it gets lost or something goes wrong, reapplying can be troublesome. I suggest confirming the bank has processed everything first before making a trip to the DMV to save hassle. Remember to bring your ID card and a copy of the loan repayment proof just in case.
