Can a mortgaged car be sold? What procedures are required?
1 Answers
Yes, a mortgaged car can be sold. If the vehicle registration certificate is in the hands of the owner, the car can be sold directly. If the vehicle registration certificate is not in the owner's possession, it will have a mortgage registration record, and the mortgage release procedures must be completed before the vehicle can be transferred. Below is relevant information about car loans: 1. Introduction: Auto consumer loans are a new type of loan where banks provide RMB guaranteed loans to buyers purchasing cars from their authorized dealers. 2. Loan channels: 4S stores (state-owned stores have no handling fees); bank credit loans (high threshold); financial companies (high loan processing fees); bank consumer credit (requires property mortgage).