Vehicle mortgage means the owner borrows funds from a bank or other financial institution as collateral. When the loan is repaid, the owner of the vehicle is required to take the vehicle into custody and release the vehicle from collateral. So, what kind of formalities do you need to untie the pipe? It is analysed from the following angles。

What kind of procedures do you need to untie a car

First, the discharge of the vehicle must go through the procedure of the vehicle's location. Generally, the owner of the vehicle and the collateral are required to go together to the vehicle's place of operation for the relevant formalities. Specific formalities include filling out the application form for release of the mortgage, providing the vehicle mortgage contract, written proof of the mortgagee ' s consent to release, etc. The Carabineros verify the identity of the parties and interpret the custody procedures。

Second, there may be some transactional costs involved in the removal of a vehicle. The release of the mortgage entails a certain amount of administrative expenses, including the cost of the transfer registration, stamp duty, etc. These costs may vary depending on the region and the value of the vehicle, and the owner is required to consult the local vehicle pipeline to obtain accurate information。

In addition, the following points need to be noted with respect to the release of vehicles. First, the owner must confirm that the loan has been repaid in its entirety and obtain a written certificate from the mortgagee to ensure that the formalities are carried out without delay. Secondly, the owner is required to bring the relevant documents and information, such as the owner's identity card, the driver's licence, the vehicle's licence, the vehicle registration certificate, etc. Finally, if the vehicle is to be re-mortgaged after its release, the owner will have to wait some time until the vehicle information is updated in the garage system。

In summary, the formalities required for the release of the vehicle pipe include the completion of the application form for the release of the mortgage, the provision of the mortgage contract, the consent of the mortgagee to release the written certificate, etc. In addition, some administrative costs would have to be paid. Before proceeding, the owner needs to ensure that all loans have been repaid and that the relevant documents and information are available. In addition, the owner of the vehicle will have to wait patiently for the change to be completed in the system。