Can a car that can be transferred have no mortgage?
1 Answers
Can a car that can be transferred have no mortgage? Not necessarily. Legally mortgaged cars can also be transferred. Here are some considerations regarding mortgaged cars: 1. Source: If you intend to purchase a mortgaged car, it is essential to verify its source. If the car is stolen or involved in illegal activities, it must not be purchased. Even after purchase, such vehicles may be seized by public security authorities, resulting in significant financial losses for the buyer. 2. Complete documentation: The necessary documents should include a clear mortgage agreement from the lending institution, as well as the borrower's identity information, such as a copy of their ID card.