Can a Car Under Mortgage Be Sold?
1 Answers
A car under mortgage cannot be sold. The vehicle cannot be sold because a car under mortgage does not have the Motor Vehicle Registration Certificate. The Motor Vehicle Registration Certificate is temporarily held by the financial institution or bank until the loan is fully repaid, after which it will be returned to the owner. Without the Motor Vehicle Registration Certificate, the vehicle cannot be transferred to a new owner. Additional information: Places where you can sell a car: 1. Used car market. 2. 4S dealership trade-in, where you can sell your old car when purchasing a new one, as many 4S dealerships offer this service. 3. Online platforms.