Can a car be mortgaged a second time if it's already mortgaged?

[DelaneyLee]

Vehicles can be mortgaged a second time. If the actual value of the vehicle is relatively high and the first mortgage value is relatively low, leaving remaining value, this remaining value can be mortgaged again. Not all cars are eligible for a second mortgage loan. The car must have available loan amount to qualify for a second mortgage. If the mortgaged vehicle only has 10-20% available loan space, it is recommended to seek alternative funding sources to cover the gap. Conditions and materials required for applying for car mortgage loan services: 1. Have a stable occupation, and the applicant must own the local mortgaged vehicle. 2. Long-term residence and work in the city where the service is provided, along with proof of occupation and economic income. 3. Vehicle registration certificate, driving license, additional purchase tax certificate, and car purchase invoice. 4. Insurance policy, vehicle and vessel tax, and relevant tax certificates for imported vehicles. 5. ID card (non-local residents must provide a valid temporary residence permit or residence permit). 6. Other documents required by the cooperative institution.