Can a Vehicle Purchased on Installment Be Transferred?

[SanTessa]

Vehicles purchased on installment cannot be transferred. For a car bought through installment payments, the ownership of the vehicle belongs to the bank until the loan is fully repaid. The individual only has the right to use the vehicle and cannot sell or transfer it. If you wish to resell or transfer a mortgaged vehicle, you must first repay the loan in full. During the repayment process, it is important to keep all repayment records, as these will be required when processing the vehicle transfer. The documents needed for vehicle transfer include: 1. Identification cards of both the buyer and seller; 2. Vehicle registration certificate; 3. Vehicle license; 4. Original purchase invoice or transfer receipt; 5. If the seller is a company, the original organizational code certificate and official seal are also required.