What to Do If the Mortgaged Car You Bought Gets Repossessed?

[LaGabriella]

The simplest way is to first report to the police and let the public security authorities investigate and handle the matter. Here is some relevant information about mortgaged cars: 1. Classification of mortgaged cars: Mortgaged cars are divided into fully paid mortgaged cars and non-fully paid mortgaged cars. 2. Introduction to fully paid and non-fully paid mortgaged cars: A fully paid mortgaged car must meet one of the following conditions: the car was bought with a one-time payment; the car was bought through installment payments, and the payments have 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 the financial company to legally transfer the debt. A non-fully paid mortgaged car refers to a car that is still under mortgage status with the vehicle management office and the bank when it is sold, etc.