Can a car without the vehicle title be mortgaged?
2 Answers
In this situation, it is generally not possible to obtain a mortgage loan. Here is some relevant information about car mortgages: Full-ownership vehicle: A full-ownership vehicle refers to a car that is used as collateral for a mortgage, where the car was either purchased with a one-time payment or was bought through installment payments that have already been fully repaid. This is considered a full-ownership vehicle. Advantages of car mortgages: Quick access to cash for financial needs without having to sell the car, avoiding the time and cost of repurchasing a vehicle when funds become available. Eliminates the awkwardness of borrowing money from relatives or friends and prevents others from knowing about your financial shortage. The car can be either purchased with a one-time payment or through installment payments that have already been fully repaid.
A car without a vehicle registration certificate basically cannot be mortgaged legally. I've been in this business for many years and have encountered many friends who wanted to mortgage their cars. If the big green book (registration certificate) is missing, banks and reliable financial institutions will directly refuse to process the application. They need proof that the car is your property, and the registration certificate serves as the ownership document. Without it, the risk of mortgage is too high, potentially involving stolen vehicles or ownership disputes. I suggest car owners first apply for a replacement certificate at the DMV. Don't seek temporary convenience by turning to high-interest loans or private lending, as it could lead to total loss. Also, don’t carelessly leave the registration certificate when maintaining your car. If it’s lost, apply for a replacement promptly to save trouble and ensure safety. In short, abiding by the law is the priority—don’t amplify risks because of minor inconveniences.
