Will the bank inform you when the car loan will be repaid?

There are usually SMS notifications, but it is best to pay attention to it yourself. When we repay the last loan, the first thing to do is for the bank to get back the relevant documents and let the bank issue a loan settlement certificate. But before you go, you'd better call the bank customer service to confirm whether you have paid off the loan. Take the loan settlement certificate given by the bank to the vehicle management office to get back our big green paper (motor vehicle registration certificate).

Car loan, commonly known as "car loan", is a major consumption form of modern car purchase. Refers to the loan that the lender gives the borrower to buy a car (including a used car), including personal car loan, dealer car loan and institutional car loan. The auto loan interest rate shall be implemented in accordance with the loan interest rate regulations published by the People's Bank of China, and the method of interest calculation and settlement shall be determined by both borrowers and borrowers through consultation. The loan term of auto loan (including extension) shall not exceed 5 years, of which the loan term of used car loan (including extension) shall not exceed 3 years, and the loan term of dealer auto loan shall not exceed 1 year. Lenders and borrowers should follow the principles of equality, voluntariness, honesty and trustworthiness. Banks also have two modes: automobile consumption loan and credit card installment repayment. Automobile consumption loan is the earliest financing method for car purchase. However, due to the complicated procedures, long cycle and high threshold, it needs personal assets and mortgage, and its status has gradually been replaced by the credit card installment payment model. The biggest advantage of the credit card car purchase model is that it does not need to pay interest, but most banks will also charge a certain percentage of handling fees. In addition, this model requires a higher credit line for customers and requires consumers to pay a higher down payment ratio first.

Auto financing companies are mostly established by auto manufacturers and banks, which have the advantages of low threshold, convenience and speed. This kind of company has no rigid requirements for consumers' accounts and assets, and it can be completed in a few working days as long as it provides some corresponding credit references such as income certificates. Moreover, the down payment ratio is as low as 20%, and qi zhou is the beneficiary of this scheme. However, most of these enterprises are limited to a single automobile brand. The financial leasing mode, commonly known as "purchasing by rent" or "delivering property rights by long-term lease", is a transaction in which the lessee puts forward specific vehicle requirements to the lessor with financial leasing qualification, and the lessor buys the designated vehicle for the lessee, rents it to the lessee, and the lessee occupies and uses it during the lease period and pays rent to the lessor. After the lease expires, the lessee can obtain the property right of the vehicle.