Is It Advisable to Buy a Used Car Without Transferring Ownership?
1 Answers
Yes, you can buy it. Below is an introduction to the related impacts of purchasing a car without transferring ownership: 1. Impact on the seller: a. If you sell your car but do not transfer ownership, you remain the legal owner of the vehicle. In the event of a traffic accident, you, as the legal owner, bear certain responsibilities. b. Without ownership transfer, the buyer only has the right to use the car, while ownership still belongs to you. Therefore, if the new owner fails to pay various fees associated with the car, the authorities will ultimately hold you accountable when enforcing payment. c. If the car is sold but ownership is not transferred, and the new owner fails to conduct annual inspections for many years or accumulates numerous traffic violations, the original owner may face difficulties when handling other business matters. 2. Impact on the buyer: a. Without ownership transfer, the car does not legally belong to you. If the original owner has significant debts and needs to use assets to repay them, the car, still registered under the original owner's name, may be affected. b. Without ownership transfer, the car is not considered a used car. The transfer process essentially moves the car's registration to your name. If the car is stolen, it would be extremely difficult to recover. In severe cases, if accidents occur or the car is stopped by traffic police, it may be deemed an unregistered vehicle.
