Can a Car Purchased with Installment Payments Be Sold?
1 Answers
A car purchased with installment payments cannot be sold. The details are as follows: 1. Loan must be repaid: A car bought on installments cannot be transferred to another person because the loan has not been fully repaid. The car belongs to the bank, and vehicle transfer requires the car to be under the owner's name. Only after the loan is fully repaid can the car be transferred to someone else. 2. Situations where transfer is not allowed include: (1) Unauthorized modifications, alterations, or changes to cargo weight or passenger capacity without approval; (2) Vehicles under purchase control without the "License Plate Application Certification Stamp"; (3) Vehicles involved in unresolved traffic violations or accidents, or those under investigation by authorities; (4) Vehicles that have not undergone regular inspections or failed inspections; (5) Vehicles under court-ordered freeze or with unresolved mortgages.