Are Three-Set Mortgage Cars Safe?

1 Answers
BethanyMarie
07/30/25 4:00am
Three-set mortgage cars are not safe and pose security risks, requiring careful consideration before personal purchase. On one hand, such mortgage cars may have potential legal disputes. Additionally, issues may arise with annual inspections and insurance claims for these types of vehicles, and reselling them as used cars in the future could be relatively more difficult. Below are supplementary methods for purchasing safer mortgage cars: 1. Purchase from reputable sources: Ensure the vehicle has complete documentation and meets roadworthiness conditions, including a valid driver's license, annual inspection, and insurance. 2. Annual inspection is possible: As long as it is a legally transferred debt vehicle, even if it is "sealed" due to asset preservation reasons, it can undergo annual inspection. For out-of-town vehicles, a power of attorney is required. 3. Purchase insurance with yourself as the beneficiary: After acquiring the vehicle, it is essential to buy a commercial insurance policy where you are the beneficiary. 4. Note: After purchasing the vehicle, remove the original GPS and install your own GPS system.
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