Can a second-hand mortgaged car be purchased?

[MacBeckett]

Second-hand mortgaged cars cannot be purchased. Here are the specific details about mortgaged cars: 1. Illegal mortgaged cars: When a vehicle is used as collateral, it is called a mortgaged car. An illegal mortgaged car refers to a vehicle that is still under mortgage status with the vehicle management office and the bank, and the owner privately sells such a car, which is illegal to purchase. 2. Purchase conditions: Check the mortgage registration details in the 'Motor Vehicle Registration Certificate.' If the final mortgage registration has been canceled, it means the vehicle's secured debt has been fulfilled, and it is no longer a mortgaged car, so it can be purchased. If the mortgage registration has not been canceled, the vehicle management office will not process the transfer procedures.

[OEliza]

Last time I wanted to buy a cheap repossessed car, but upon checking, I found many potential issues. The price might be low, but there could be outstanding loans, meaning the bank could reclaim it anytime. I asked a car-savvy friend to help inspect it. He taught me to check the vehicle's records to confirm ownership status and look for any seizure or duplicate mortgage records. It's also crucial to inspect the car's condition, as repossessed cars often have poor maintenance due to previous owners' financial troubles, leading to faster aging of the engine or transmission and expensive repairs. If you're determined to buy, always demand the seller provide proof of full payment clearance and include rights transfer clauses in the contract to avoid future disputes. I found it too troublesome and ended up choosing a regular used car, spending a bit more but sleeping soundly. Safety is always better than regret, especially since the used car market is so murky.

[Genesis]

Mortgaged cars might seem like a bargain on the surface, but they're full of traps. With some experience in the car trade, I advise buyers not to bite too easily. First, check the mortgage status—visit the DMV for documentation or check online platforms for the vehicle's mortgage history to ensure the seller has the right to sell. Suspiciously low prices often hide issues, whether it's a repaired accident car or complex ownership that makes transfer impossible. Once bought, endless troubles follow, like banks coming after you for debt repayment. If you're serious about buying, hire a professional agency to assess contract details and vehicle condition—don't skimp on that cost. Overall, the risks are too high to be worth it unless you're well-versed in the unspoken rules of used car trading.

[SanMason]

As a young car buyer, I was also once attracted by the low prices of mortgaged cars and almost made an impulsive purchase. After researching, I realized the risks were too high—unstable ownership could easily lead to issues, and having the car repossessed would be disastrous. A simple solution is to use a mobile app to check the vehicle's status and avoid disputes. Prioritize buying a normal used car—it might cost a bit more, but it's reliable and worry-free. When purchasing, visit multiple dealerships to compare options. Don’t rush—saving money is important, but driving safely is even more crucial.