Can a mortgaged car be pledged to a pawnshop?
1 Answers
A mortgaged car can be pledged to a pawnshop. The specific details are as follows: Second mortgage: A car purchased with a mortgage can be used for a second mortgage loan if the remaining balance has not been fully repaid. Mortgage rules: After the property is mortgaged, the portion of the property's value that exceeds the secured debt can be mortgaged again, but it must not exceed the remaining balance. Information about purchasing a car with a mortgage is as follows: Purchasing a car with a mortgage: Refers to a car buyer who applies for a loan to purchase a car, paying a portion as a down payment first, with the remaining amount issued as a loan by the lender in installments. Application conditions: Must have a valid identity document and full civil capacity; must be able to provide proof of a fixed and detailed address; must have a stable job and the ability to repay the loan principal and interest on time; must have good personal social credit; must hold a car purchase contract or agreement recognized by the lender; must meet other conditions stipulated by the cooperative institution.