Does a Financed Car Only Come with One Key?

[McLila]

Financed cars do not necessarily come with only one key. The specific details are as follows: 1. It is possible that some dealerships may have such arrangements: Nowadays, many 4S stores take out loans from banks for their inventory vehicles. In such cases, the vehicle's certificate of conformity and a spare key are often used as collateral with the bank. Once the vehicle is sold, the dealership then uses the final payment to redeem the certificate and key from the bank. 2. Different lending institutions have varying requirements: There is no uniform regulation on whether a key needs to be held as collateral when financing a car. Some banks may require you to mortgage one key along with the vehicle registration certificate (also known as the 'big green book'), while others may only require the vehicle registration certificate. Therefore, it is advisable to understand the bank's collateral policy before taking out a loan to avoid any misunderstandings when picking up the car later.