Do pawnshops require the green book for vehicle mortgages?

[DeBriella]

Pawnshops do not necessarily require the green book for vehicle mortgages, as it depends on the specific loan product terms set by the institution. However, in most cases, they will require the green book to be held or the installation of a GPS device. If the borrower leaves their usual place of residence during the loan repayment period, it may trigger risk control measures. Below are the basic requirements for borrowers applying for a vehicle mortgage loan: Age requirement: Must be at least 18 years old with full civil capacity, and a Chinese citizen with a fixed residence in China. Income requirement: Must have a stable job and economic income to ensure regular repayment of the loan principal and interest. Guarantee: The borrower must be able to provide collateral for the vehicle mortgage loan.

[SanRiver]

As someone who frequently helps friends with used car mortgages, I know the process all too well. Pawn shops require the green book for vehicle mortgages – that dark green-covered motor vehicle registration certificate. It's the most crucial document proving vehicle ownership; without it, mortgage registration simply can't be done. Just last week, I accompanied a friend to a pawn shop and watched them collect the green book and complete the mortgage filing at the vehicle management office. But don't worry, you can still drive the car normally – they only hold the green book, not the vehicle license, and they won't impound the car. Pay attention to the contract details when signing. If you fail to repay or renew the mortgage on time, the pawn shop has the right to dispose of the vehicle. Remember to clarify the redemption process in advance to avoid last-minute chaos.

[DiLondyn]

Previously handled auto loan business in financial institutions, the core of vehicle mortgage is controlling the title certificate. Pawnshops collect the green book because it records the owner's information, and a mortgage record will be printed in the registration column after mortgaging. Without the green book, you might encounter stolen vehicles or duplicate mortgages. Last year when my neighbor mortgaged an SUV, the pawnshop specifically used a UV light to check the anti-counterfeiting marks on the green book to avoid fake certificates. They also check the vehicle's traffic violations and loan status; vehicles with outstanding loans are generally not accepted for mortgage. It's advisable to go to a reputable pawnshop, as small shops might intentionally set traps in the contract terms.

[DeElliot]

Helped my cousin with a vehicle mortgage before, and the pawnshop definitely required that big green booklet. The staff explained it was to prevent the owner from secretly selling the car or mortgaging it to someone else. Although the green booklet is held as collateral, the car can still be driven as usual—only the ownership is mortgaged, not the usage rights. Pay attention to the conditions under which they store the green booklet; I've heard some small pawnshops casually pile customer documents in damp warehouses. It's best to take a photo of the green booklet's information page with your phone before signing the contract, so you can verify details if any issues arise later. Remember to redeem the mortgage on time; failing to renew it may result in the vehicle being auctioned.