Are there still risks after a successful used car transfer?

[DelOwen]

Normally, there will be no further risks after a successful used car transfer. The following are the risks of buying a used car without transferring ownership: 1. For the seller: If the vehicle is transferred without legally completing the ownership transfer process, the original owner still retains ownership of the car. In the event of a traffic accident, the owner who has not completed the transfer will bear greater responsibility, possibly facing unexpected compensation costs. Therefore, after the vehicle transaction is completed, it is essential to complete the transfer procedures at the motor vehicle registration department. 2. For the buyer: Although you may possess the used car and drive it daily, if the ownership is not transferred to your name, the seller can reclaim the car if they change their mind later. Additionally, if authorities confiscate the seller's assets, the car may still be subject to seizure, resulting in a loss for the buyer.