Full paid auto loan, what's next?

[SidCoronel]

Sino po dito nakakaalam ng latest steps after full payment ng loan and cancellation of encumbrance and then transfer of name sa LTO?

I just paid off my loan in advance and asked the bank branch about the release of my documents and they advised me to contact the head office instead. I already sent an email to the head office about the request and ro response yet.

From the information I gathered ganito daw ang procedure, paki correct na lang if Im missing something.

1. Get documents from the bank (release of chattel mortgage, original OR/CR, others) - will take 10-15 days? Sa head office din ba kukunin ito or we can request to pick it up from a specified branch? Are there fees needed to be paid?

2. Proceed to the Registry of Deeds to submit the release documents and get the cancellation of encumbrance - will take 1+days? Fees? Can this be submitted by another person if pwede ipalakad?

3. Once RD has provided the cancellation form, we can then proceed to LTO to request for a clean copy of the OR/CR. Do I still need to go to HPG to get clearance?

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Answers...

1 Yes, yes, yes

2 Yes, yes, yes pwede ipalakad

3 No, unless you're selling it

[Syuryuken]

RCBC Savings bank.

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Meron sa RCBC 2 weeks bago ko nakuha yung akin.

[chocoboy]

Mga sir after sa rd ill proceed to the lto where my mother is file located, do i need to bring my car or pwede hindi na?may stencil pa ba yun?thank you.

[zechs]

*chocoboy

On our case, we brought the car to the lto and they had it stencil'd again.

[kris_13]

Last august 2018 pa natapos yung isang car loan ko. hindi ko naasikaso. Ok lang ba na naka tengga lang dun yung papel ng auto?

[rusty_ryan]

Last august 2018 pa natapos yung isang car loan ko. hindi ko naasikaso. Ok lang ba na naka tengga lang dun yung papel ng auto?

Alam ko 6 months after nung last payment dapat nakuha mo na sa bank yung release of chattel. May fine yan pag over ka na sa 6 months. Parang "storage fee" ata yun.

Pero not sure ako sa 6 months. Meron ka dapat letter mare receive from the bank na ok na makuha yung papers mo

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[kris_13]

Alam ko 6 months after nung last payment dapat nakuha mo na sa bank yung release of chattel. May fine yan pag over ka na sa 6 months. Parang "storage fee" ata yun.

Pero not sure ako sa 6 months. Meron ka dapat letter mare receive from the bank na ok na makuha yung papers mo

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Magkano kaya fine nun?

[rusty_ryan]

Magkano kaya fine nun?

No idea bro. Asikasuhin m na siguro, madali lang naman process pero need to make time talaga. Halos 3 days ka din mag leave dyan to complete all the papers

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[ray_noel]

Sa case ko, ucpb na nag ayos ng papel... may babayaran ka lang ng certain amount para sa stamping ng docs...
Tapos its up to you kung kelan mo ipapa encumbered yung cr... in terms of kung hindi mo kukunin for certain period sa bank yung papers, im not sure...


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[rusty_ryan]

Sa case ko, ucpb na nag ayos ng papel... may babayaran ka lang ng certain amount para sa stamping ng docs...
Tapos its up to you kung kelan mo ipapa encumbered yung cr... in terms of kung hindi mo kukunin for certain period sa bank yung papers, im not sure...


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Sakin sa BPI auto loan. Ikaw bahala sa lahat pag nakuha mo na release of chattel. Ang layo lang kasi nung LTO na pinagkunan nung rehistro. Sa lto novaliches. Banawe area lang kasi ako banda. Yung isa nga din namin mga 5 years na naka tengga. Sa lto valenzuela naman.

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