Is there a SMS reminder to pay off the car loan?

There is a SMS notification to pay off the car loan. The lender will reserve the received mobile phone number before applying for a car loan, and the lending institution will automatically send a short message to the applicant's mobile phone number before repayment, including the applicant's name and the amount to be repaid.

Car loan repayment process:

1. The first thing to do is for the bank to get back the relevant documents and let the bank issue the loan settlement certificate. But before you go, you'd better call the bank customer service to confirm whether you have paid off the loan.

2. Then take the loan settlement certificate given by the bank to the vehicle management office to get back the Great Green Paper (motor vehicle registration certificate). Be sure to take care of this certificate. This certificate is a certificate to prove that you are qualified to get the Great Green Paper.

3. Finally, at the same time, it is necessary to go through the mortgage cancellation registration formalities at the vehicle management office, because during the mortgage period, the bank will register the vehicle mortgage at the vehicle management office to prevent the vehicle from being sold, so it can only be sold after the cancellation registration.

After the car loan repayment is completed, it should also be noted that:

1. Contact the insurance company and ask it to change the beneficiary of the insurance to its own name. This is mainly because during the loan period, in order to avoid risks, banks will fill in the name of the insurance beneficiary as the bank being loaned. If you don't change your name to your own after the loan is paid off, if there is an accident in the next few days, the insurance company's compensation will be directly credited to the bank account, which will be very troublesome.

2. clear the GPS locator on the car, mainly to ensure your privacy. Banks will install locators on their cars for insurance before lending money, so that they can take compulsory measures when they don't repay.