Is there a time limit for vehicle mortgage?

[OliviaRose]

There is no specific time limit for vehicle mortgage. Definition of mortgaged vehicles: Mortgaged vehicles are generally pledged to lending institutions through formal procedures with complete documentation and various signed agreements. The price of mortgaged vehicles is much lower than the market price. Purchasing a mortgaged vehicle allows normal driving, vehicle inspection, and insurance purchase, with the only drawback being the inability to transfer ownership. Relevant regulations on mortgaged vehicles: Article 406 of the Civil Code states that during the mortgage period, the mortgagor may transfer the mortgaged property. If the parties have other agreements, those agreements shall prevail. The transfer of mortgaged property does not affect the mortgage rights. The mortgagor shall promptly notify the mortgagee when transferring the mortgaged property. If the mortgagee can prove that the transfer of the mortgaged property harms the mortgage rights, they may request the mortgagor to use the proceeds from the transfer to repay the debt in advance or to deposit the proceeds. Any amount exceeding the debt shall belong to the mortgagor, and any shortfall shall be paid by the debtor.