what to do after auto loan has been paid off?

[moody_boo]

Hello! Newbie here. I need some guidance. I have already paid off my auto loan in 2009. I was out of the country since 2008 and I wasn't able to process this.

Can someone please tell me what I should do? I believe I need to get some sort of certificate or something from the bank to certify that the loan has already been paid off. How do I do this? What do I need to bring? And then, what's next after this?

Apologies for the multiple questions but I really hope you could help me. Thank you in advance.

[lukscudkil]

you need to bring 2 valid ids and any proof of payment. your bank will give you the cancellation/release of mortgage, promissory note and your car's original OR/CR. Then bring it to register of deeds where it was mortgaged to cancel it before goin to LTO for the issuance of the unencumbered CR.

[lukscudkil]

please bring your old insurance policies since you bought the car. you might need it also

[moody_boo]

Thank you, lukscudkil! I appreciate your help.

[alyanna]

Hello! Newbie here. I need some guidance. I have already paid off my auto loan in 2009. I was out of the country since 2008 and I wasn't able to process this.

Can someone please tell me what I should do? I believe I need to get some sort of certificate or something from the bank to certify that the loan has already been paid off. How do I do this? What do I need to bring? And then, what's next after this?

Apologies for the multiple questions but I really hope you could help me. Thank you in advance.

dunno. but maybe it can help:
Auto Loan Payoff Calculator
How to Get a Car Loan

[oliver1013]

Question po, related to the Ts' Q. I bought a 2nd hand car from a trusted co league and I'm planning of re selling it later for a profit, the he told me na ako na bahala mag pa cancel ng encumbrance kasi wala daw sila time (di na din ako pumalag kasi sobra mura ng bigay). Binigay nila sa akin yung release of chattel mortgage and the OR and CR. Nung pumunta ako sa RD hinahanap nila yung promissory note kaso hindi na mahanap or hindi daw binigay sa kanila noon ng bank sabi ng 1st owner...pano kaya to pwede ba mapakiusapan yung RD na kahit wala na yung promissory note i cancel na nila tutal may proof naman na na fully paid. Also what if hindi ma cancel, pwede ko ba i transfer sa name ko? Tnx in advance

[Gecko Guy]

*Oliver: Request ka na lang ng copy of promissory note sa bank, madali na lang yun kasi fully paid na naman yung car eh.

[cyplanr]

may prescribed period ba para gawin ito after ma pay off yung loan? 5yrs ko n tapos nde ko pa naasikaso :-/

[kidgz]

di ba nila e mail sayo ung mga documents OR/CR pag natapos mo na bayaran?

loan din tong sa akin mga master

and 2years remaining..

[oliver1013]

*gecko ok lang ba kahit noong 2007 pa yung release? Medyo matagal na yun

[oliver1013]

naku wala na daw copy ang bank patay tayo pano ko kaya mapapa cancel ang encumbrance?

[Ginnova]

I have different issue naman. My car loan was already payed off. I have requested my collateral documents since June4 and up to now di pa nila maibigay(BDO). Some background pala. Orig OR and CR was included by the dealer when my plates were forwarded to me. i did not know before that the copy was the orig since typewritten lang yung plate# sa CR. wala din nakasulat sa encumberred to portion.

so this means , wala ako gagawin sa CR ko. ibig bang sabihin nito wala ako rin ako certificate of imcumbrance to cancel? pano yung binayad ko dati na chatel mortgage fee? pwede ko ba pa-refund yun kasi di naman nila napa-encumberred yung rehistro ko.

[1D4LV]

technically, kung walang encumbered yung CR mo, free ka na.
you can ask your bank to refund the chatel mortgage fee since hindi sya pinasok.