Can a Car with Outstanding Loan Be Sold?

[August]

Can a car with an outstanding loan be sold? Yes, but the following steps must be taken: First, agree on the vehicle price. The buyer will then repay the remaining loan amount, which will be deducted from the total vehicle price. The remaining amount will be given to the original owner. The vehicle must then be released from the mortgage, and the transfer procedures must be completed. Below is an introduction to motor vehicle loans: 1. There are two types of motor vehicle loans: (1) Apply for a loan directly when purchasing the vehicle. (2) After purchasing the vehicle in full, use the motor vehicle registration certificate to apply for a loan. 2. A vehicle under loan lacks the motor vehicle registration certificate. The certificate is held by the bank or financial institution as collateral. Without the registration certificate, the vehicle cannot undergo transfer procedures, file extraction procedures, modification filing procedures, etc. The owner only has the right to use the vehicle, not the right to sell it.