Can a Mortgage Vehicle Be Transferred?
1 Answers
A mortgage vehicle cannot be transferred. Definition of a Mortgage Vehicle: Mortgage car purchase refers to a situation where the borrower applying to buy a car pays a portion of the down payment first, and the remaining amount is issued to the buyer in installments by the lender. Required documents include: original ID card, household register, or other valid residency documents, along with their copies; proof of occupation and economic income; car purchase agreement, contract, or letter of intent signed with the dealer; other documents required by the cooperative institution. Application Methods for Car Loans: To boost car sales, the government has partnered with financial institutions to launch personal car loan services. Currently, the financial market offers two main methods for personal car loans: property mortgage car loans (using property as collateral) and personal credit car loans.