What Kind of Mortgage Cars Are Safer?

[VanLane]

Regular mortgage cars are relatively safer. A regular mortgage car refers to one with legitimate sources and proper legal mortgage agreements. Additionally, the lending institution can provide valid copies of the car owner's ID, etc. For vehicle transfer, the required procedures include the original owner's mortgage contract with the owner's signature and fingerprint, the original owner's vehicle license, a copy of the original owner's ID (for vehicle inspection), and finally signing a transfer agreement. Mortgage cars should be handled differently based on the following two situations: 1. Purchasing a car through vehicle mortgage loans. In this case, the choice of lender is usually designated by the 4S store, divided into bank loans and auto finance loans. Bank loans involve the bank as the lender, with the vehicle mortgaged to the bank; auto finance typically involves the car manufacturer's own financial company, with the vehicle mortgaged to the car manufacturer. 2. Using an owned vehicle as collateral for a loan. In this scenario, the safety depends on the lending channel. Loans processed through banks are undoubtedly the safest. Loans through guarantee companies or small loan companies are also feasible, but the interest rates tend to be higher.