Is it mandatory to mortgage the vehicle title when buying a car with a loan?

[ColinDella]

When purchasing a car with a loan, it is mandatory to mortgage the vehicle title. After the loan is fully repaid, the owner must also complete the deregistration of the mortgage. According to regulations, if the owner of a motor vehicle uses the vehicle as collateral, they must apply for mortgage registration at the local vehicle management office. When the mortgage is extinguished, they must apply for the cancellation of the mortgage registration at the same office. The vehicle title, also known as the vehicle registration certificate, is the legal proof of vehicle ownership. It is kept by the vehicle owner and not carried with the vehicle. This document is required for any vehicle-related procedures such as transfers or registrations, and it records the vehicle's relevant information, serving as the vehicle's equivalent of a household registration booklet.