Can private cars be used as collateral for bank loans?

[ElizaRose]

It is possible to obtain a mortgage loan using a private car. As long as the car was purchased through legitimate channels, you can fully apply to the bank for an auto mortgage loan to meet your financial needs. More relevant information is as follows: 1. Auto Mortgage Loan: An auto mortgage loan is a loan obtained from financial institutions or auto consumer loan companies using the borrower's or a third party's car or self-purchased vehicle as collateral. Currently, the primary purpose of using a car as collateral is for auto consumption. However, due to the rapid depreciation of cars and the high probability of traffic accidents affecting the vehicle's value, financial institutions relatively seldom issue loans using a car as the sole collateral. 2. Property Law: According to the "Property Law," when real estate and related rights are mortgaged, a registration is required for the mortgage to take effect. However, for movable property such as production equipment and transportation vehicles, the mortgage follows a registration opposition system. Under this regulation, auto mortgages follow the registration opposition system, meaning the absence of registration does not affect the validity of the contract.