What are the consequences of not transferring ownership when buying a used car?
1 Answers
Buying a used car without transferring ownership can have the following consequences: The vehicle cannot undergo annual inspection: If you purchase a used car without transferring ownership, the annual inspection process becomes very troublesome. The original owner must handle the inspection, and all the vehicle's information remains under the original owner's name. For the buyer, not only is the inspection procedure cumbersome, but if the original owner does not cooperate, it may even be impossible to complete the inspection. Issues with property rights: If the vehicle ownership is not transferred, the seller could change their mind and resell the car to someone else or reclaim it. Additionally, if authorities seize the seller's assets, the car may still be subject to confiscation, leaving the buyer at a significant loss.