Can a car without the green book be used for mortgage loans?
2 Answers
No, a car without the green book does not fully belong to you, so it cannot be used as collateral for loans. Below are the specific details about the vehicle green book: Name meaning: The green book is the "Motor Vehicle Registration Certificate," equivalent to the vehicle's household registration. The motor vehicle registration certificate serves as the legal proof of vehicle ownership, kept by the vehicle owner and not carried with the vehicle. Any subsequent vehicle registration procedures such as transfer or change of ownership require the presentation of the vehicle registration certificate, which records the vehicle's relevant details. Required materials for application: "Motor Vehicle License Plate Application Form," original and copy of the vehicle owner's identity proof, vehicle inspection record form. Conditions for reissuance: If the motor vehicle registration certificate is lost, missing, or damaged, the vehicle owner must apply for a replacement at the local vehicle management office where the vehicle is registered.
This question often pops up in our community groups. Actually, the 'green book' refers to the vehicle registration certificate, which serves as the car's ID card, proving full ownership. Without it, getting an auto loan is nearly impossible because lenders need clear collateral rights before approving funds. Otherwise, the car might still have outstanding loans or be impounded - way too risky. I recall a friend whose car lacked the green book due to incomplete paperwork when buying it used, resulting in immediate bank loan rejection. For your situation, I'd suggest first checking the vehicle's registration status at the DMV and getting the green book reissued before applying for loans. Meanwhile, consider alternative financing like personal loans - more realistic than wasting time. Remember: auto loan safety comes first. Never trust unofficial channels' claims.
