What is a Creditor's Car?

[KaydenLynn]

Creditor's cars are collectively referred to as mortgaged cars. Here is the relevant introduction about creditor's cars: 1. Classification: Mortgaged cars are divided into fully-paid mortgaged cars and non-fully-paid mortgaged cars. Non-fully-paid mortgaged cars refer to vehicles that are still under mortgage status with the vehicle management office and bank when sold. 2. Fully-paid mortgaged cars must meet one of the following conditions: (1) The car was purchased with a one-time payment. (2) The car was bought through installment payments, the car loan has been fully repaid, but the owner is unwilling or unable to repay the financial company and does not cooperate with the transfer of ownership, leading to a legal transfer of creditor's rights by the financial company.