Is It Advisable to Buy a Second-hand Car Without Transferring Ownership?
1 Answers
It is not advisable to buy a second-hand car without transferring ownership. If you only sign an agreement without transferring ownership when buying or selling a used car, the previous owner can still use the car as collateral, which may harm the interests of the subsequent owner. Definition of Ownership Transfer: Transferring ownership of a second-hand motorcycle, as the name implies, means changing the name of the vehicle's owner. It is an indispensable procedure in the process of buying and selling used vehicles. Not transferring ownership can cause inconvenience to both the buyer and the seller. Precautions for Ownership Transfer: According to Article 31 of the "Road Traffic Accident Handling Measures," if a motor vehicle driver is temporarily unable to compensate, the driver's employer or the owner of the motor vehicle is responsible for making the payment. If the ownership transfer is not completed, the owner remains the original owner, meaning that if someone else causes an accident, the original owner will be held liable. Moreover, if the property rights are not transferred to your name, disputes may easily arise in the future.