Is a Vehicle Considered Mortgaged If the Green Book Does Not Indicate a Mortgage?

[SpencerDella]

When a user applies for a vehicle mortgage loan, there will typically be a line in the green book indicating the mortgage status. If this line is absent, it means the vehicle has not been mortgaged. Below is a detailed explanation: Reasons for this situation: It is highly likely that the user initially did not apply for a car purchase loan but instead opted for a bank's large-scale car loan credit card service. In such cases, the user only needs to repay the amount in installments, similar to a credit card, without the need to surrender the green book or register a mortgage. If none of the above scenarios apply, it is recommended that the user check the actual status of the vehicle at the local vehicle management office. Relevant proof: Since a vehicle that has not been released from mortgage cannot be traded or transferred, it is crucial for the user to be aware of this. It is advisable to bring the settlement certificate and other relevant documents to complete the mortgage release after the loan is fully repaid. Timely repayment: During the car loan repayment period, it is important to ensure that each installment is paid on time to avoid late payments. Severe delinquency may result in the vehicle being repossessed.