Is a Mortgaged Vehicle Considered an Asset Under One's Name?

1 Answers
BrandonRose
07/29/25 3:38pm
Mortgaged vehicles are assets under one's name. Mortgaged to small loan companies: Vehicles in this state have the lowest prices, which also means the lowest safety factor. Several GPS devices are installed on the vehicle, making it hard to guard against—wired, wireless, all kinds. Jammers are basically ineffective. Mortgaged to banks: The safety factor is only slightly higher than vehicles mortgaged to small loan companies. Currently, all banks have their own guarantee companies. If a customer defaults on repayment, the bank will deduct the guarantee company's deposit to cover the outstanding vehicle payment, and then the guarantee company will take over to track the vehicle.
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