What documents are required for a mortgaged vehicle?
1 Answers
Mortgaged vehicles require the identity documents of both the mortgagor and the mortgagee, as well as the vehicle registration certificate. Introduction to Vehicle Mortgage: Auto mortgage loans are loans obtained from financial institutions or auto consumer loan companies using the borrower's or a third party's vehicle or self-purchased car as collateral. The purpose of loans using vehicles as collateral is primarily for quick capital turnover. Conditions and Materials for Vehicle Mortgage: Original ID card, household register, or other valid residency documents, along with their photocopies; proof of occupation and economic income; purchase agreement, contract, or letter of intent to purchase a car signed with the dealer; other documents and materials required by the cooperative institution.