Does a mortgaged vehicle have a green book?

[MariaDella]

A mortgaged vehicle with a green book should not be purchased. A mortgaged vehicle cannot be transferred because the original owner, when purchasing the vehicle, has already mortgaged the "registration certificate" (green book) to a bank or financial institution, and the status shows "mortgaged." Subsequently, the owner pawned the vehicle to a pawnshop, and if the owner cannot repay the debt and chooses to flee, this creates a debt dispute. The company that holds the "registration certificate" as collateral will then file a lawsuit to seize the vehicle, and the status will show "seized." Under the new traffic laws, the meaning of a seized vehicle is that it is prohibited from being traded or transferred, hence it cannot be legally transferred. Additional information: Lifting the mortgage on a vehicle requires the green book (vehicle registration certificate). To apply for the cancellation of the mortgage registration, both the vehicle owner and the mortgagee must jointly apply and submit the following documents and proofs. The relevant documents and proofs include: "Application Form for Vehicle Mortgage Registration/Pledge Filing"; identity proofs and copies of both the vehicle owner and the mortgagee; the vehicle registration certificate; if the mortgage is lifted by court mediation, ruling, or judgment, the vehicle owner or mortgagee must also submit the effective "Mediation Agreement," "Ruling," or "Judgment" issued by the court, along with the corresponding "Notice of Assistance in Execution"; if the application is handled by an entrusted agent (or an employee of the unit), a "Power of Attorney for Vehicle Business" and the identity proof and copy of the agent (or entrusted person) must also be submitted.

[SanMargaret]

To be honest, I've been driving for twenty years, and it's true that a mortgaged vehicle is registered with the green book, which is the motor vehicle registration certificate, that little green booklet. But this document is usually not in the hands of the owner during the mortgage period; instead, it's held by the bank or loan company. I've seen many friends who bought mortgaged cars only to have the vehicle suddenly repossessed because the loan wasn't fully paid off. So when buying a used car, you really need to be extra careful and check whether the green book status shows the mortgage as canceled. If you proceed with the deal without verifying this, it's like throwing money down the drain. I recommend going to the DMV or a 4S shop to conduct a vehicle record check—safety first. Don't think you're getting a bargain just because it's cheap. Actually, the green book is the car's ID card; without it, you can't even transfer ownership, and the risk is too high. I always advise people to take a few extra days to check all the paperwork before buying a car and not to rush into paying, so they don't end up regretting it later.

[StWillow]

I'm the cautious type, and now that I'm more experienced with cars, I know that mortgaged vehicles do come with a green book—it's the proof issued by the state registration for every car. However, during the mortgage period, the green book is held by the lender and not released, so the owner can't get it. Buying such a car is the easiest way to get burned. I've heard stories from neighbors, like one who bought a cheap mortgaged used car, only to have the original owner reclaim it, leaving him out of pocket. So before buying a car, always check its mortgage status—either by viewing the original green book or verifying with the DMV. If you're not willing to put in the effort to verify, don't rush into a deal. After all, driving safety is more important than saving money. Young people should especially consult friends who know about cars before making a decision—don't just dive in blindly. The green book is your guarantee of ownership, and overlooking it could lead to legal troubles that aren't worth the risk. You wouldn't want to drive around with that worry hanging over you.

[StZachary]

I usually use apps to check various information. Of course, a mortgaged car has a green book, but the owner doesn't have it in hand because it's held by the bank during the loan period. You can check the status by entering the license plate on the official website of the vehicle management office or a tool platform using your phone. If it shows 'mortgaged,' the green book isn't there. If you want to buy such a car, you must confirm that the mortgage has been cleared; otherwise, the car could be repossessed. Remember to check all documents are complete—safe driving depends on the details. Don't buy blindly; check online first before making a decision.

[Irene]

I've sold cars a few times. For mortgaged vehicles, there's a green book (vehicle registration certificate), but it's usually held by the lending institution. When buying a used car, you must check if the seller can provide proof of mortgage release. Don't make any payment without this document. The green book is essential for ownership transfer – missing it leads to endless troubles later. Before the deal, visit the vehicle management office together to check records, or hire an intermediary for verification. Spending a little money now can save you big headaches. Also, thoroughly inspect the car's condition. Don't just take the seller's word – check screws and tire wear yourself to ensure there's no foul play. Otherwise, you might end up with a problematic car, losing money and feeling unsafe on the road.