Can the vehicle mortgage green book be borrowed?
2 Answers
You need to consult the mortgage bank, but generally it is not allowed. It is recommended not to purchase mortgaged vehicles, as many mortgaged vehicles may end up with disputes. Although the price is relatively cheap, you cannot have any traffic violations while driving the vehicle because the original owner is required to handle the violations, which can be troublesome. Below is a detailed introduction to mortgaged vehicles: 1. Illegal mortgaged vehicles: When a motor vehicle is used as collateral, it is called a mortgaged vehicle. Illegal mortgaged vehicles refer to vehicles that are still under mortgage status with the vehicle management office and the bank, and the owner privately sells such vehicles, which is illegal to purchase. 2. Purchase conditions: Check the mortgage registration content in the "Motor Vehicle Registration Certificate". If the mortgage registration has been canceled, it means the vehicle's debt has been fulfilled, and it is no longer a mortgaged vehicle, so it can be purchased. If the mortgage registration has not been canceled, the vehicle management office will not process the transfer procedures.
As a veteran driver with twenty years of experience, I've dealt with situations involving the mortgage of the green book. It's typically the document held by the bank as collateral when you take out a car loan, and you can't borrow it casually to avoid loss or misuse. However, if you genuinely need it—for vehicle transfer, annual inspection, or repairs—you can apply to the lending institution for temporary use. The process requires submitting a written application stating the reason, and after review, the bank may approve lending it out for a few days. I once went through the transfer procedure, filling out forms and waiting for approval took time, but I managed to get the green book for three days and returned it promptly. Nowadays, many institutions support online applications, making the process more efficient, but remember to return it on time to avoid affecting your credit or causing trouble. The green book is the vehicle's ID card, so keeping it safe is a serious matter.
