Can a car be mortgaged without the green vehicle license?

[SanJoy]

Vehicles cannot be mortgaged without the green vehicle license. Vehicle-secured loans: After completing the vehicle mortgage registration, the car must be stored in the lender's designated garage and can no longer be used. This method offers higher loan amounts, lower interest rates, and longer loan terms compared to non-vehicle-secured loans, and does not require GPS installation. Non-vehicle-secured loans: Only the vehicle's relevant documentation needs to be mortgaged, allowing continued use of the car after obtaining the loan. However, GPS installation is required, with the installation fee borne by the borrower. This method provides lower loan amounts, no interest rate advantages, and typically involves short-term borrowing.

[VanMiguel]

Last year, I lost my vehicle's green book (vehicle ownership certificate) and was in urgent need of a mortgage loan. I visited several banks, but none of them would process my application. They emphasized that the green book serves as proof of vehicle ownership, and without it, they couldn't verify the car's legality. I had no choice but to go to the DMV to apply for a replacement. The process wasn't difficult but took some time. Only after receiving the new green book was I able to secure the mortgage. The lesson I learned from this experience is: the green book is like a car's ID card—it must be presented during a mortgage to prove you're the legitimate owner. Attempting to mortgage a car without the green book can easily lead to scams, and your car might even be taken away. Everyone, please don't take the risk; going through the proper channels to get a replacement is the safest option. Looking back, it still gives me chills—I almost went down the wrong path that time.

[NovaDella]

Mortgaging a vehicle is a serious matter, and it definitely won't work without the 'green book.' The green book refers to the motor vehicle registration certificate, which proves the car is yours. Without it, mortgage institutions cannot verify the vehicle's information, such as whether there are disputes or unpaid loans. Legitimate institutions like banks or auto loan companies require the original green book to process the mortgage. Therefore, attempting to mortgage a car without the green book means lacking essential documentation, rendering the mortgage transaction invalid or even illegal. If the green book is lost, promptly visit the vehicle management office to apply for a replacement. Avoid rushing into loans with incomplete documents, as the risks are too high—you might end up losing money instead of securing a loan.

[AuroraRose]

Hearing about mortgaging a car without the green book makes me skeptical. The green book is the key proof of a car, and mortgaging without it is definitely not feasible. Like my relative tried once, they went to a private lender but ended up with no money and the car seized, causing a lot of trouble. Mortgaging a vehicle requires legal identity verification, and the green book provides that assurance. Without it, how can the lender trust that your car is clean? It might be a stolen car or have debts attached. The risk of directly mortgaging a car without the green book is too high—don’t fall into such a trap. It’s better to first replace the green book and then proceed with the mortgage for safety.