Where is the green book for used car installment payment?

[DanielaFitz]

For used car installment payments, as long as the car is purchased with a loan, the green book will be mortgaged. Here are the relevant details: 1. Specific reason: Because the car is purchased with a loan, the vehicle registration certificate is not in your possession but is held by the financial institution providing the loan. If you need to buy a car with an installment loan, you will need to mortgage the motor vehicle registration certificate. During the mortgage period, the green book is kept by the vehicle management office on your behalf. After the mortgage is lifted, it is kept by the vehicle owner and does not need to be carried with the car. 2. Introduction to the green book: The 'Motor Vehicle Registration Certificate' is essentially the car's household registration book, commonly known as the 'green book.' The motor vehicle registration certificate is the legal proof of vehicle ownership, kept by the vehicle owner and not carried with the car. When handling any vehicle registration procedures such as transfer or change of ownership in the future, the vehicle registration certificate must be presented. It records the relevant details of the vehicle and is equivalent to the car's 'household registration book.'

[AlejandroDella]

I bought a used car on installments, and I've personally experienced the issue with the green book (vehicle registration certificate). Typically, when you take out a loan, the car dealer or bank will hold onto the green book as collateral. This is because they lend you money to buy the car, and without this document, they're afraid you might sell the car and disappear. In my case, I went through a 4S dealership, and they directly took possession of the green book. I had to make monthly payments for three years before I got it back. The process was straightforward, but I recommend checking your repayment records regularly to avoid any defaults. Otherwise, the lender might impound the car. Additionally, if you want to know where the green book is, you can directly ask the lending institution or check the contract terms. Remember, maintaining good repayment habits is key to getting your documents back smoothly and avoiding future hassles.

[LaJason]

When purchasing a used car through installment payments, the vehicle's green book (registration certificate) is typically held by the lender, such as a bank or financial institution. I believe this is a risk management measure to secure the financing. During the process, the car dealer will assist you in submitting the application, and the green book will be handed over to the lender for safekeeping. As a buyer, you should confirm this arrangement before signing the contract and request a copy of the custody certificate from the lender. If you're curious about its whereabouts, many institutions now offer online systems for tracking. The green book will only be returned to you for ownership transfer once the loan is fully repaid. It's advisable to choose reputable lending platforms and avoid trusting small intermediaries to prevent document loss. This approach ensures a smoother process and helps avoid unexpected disputes.

[DiJayden]

I just bought a used car on installment and was wondering where the green book is. After asking several friends, I finally figured it out: most of the time, it's held by the lender and kept in their safe. This is because the car is currently mortgaged, and you can only retrieve it after paying off the loan. The manual also suggests checking the details of the sales contract. Don’t worry if the location seems too far; you can usually confirm its whereabouts via their app or phone. Also, never forget to make payments during the custody period, or serious issues may arise. Remind yourself to regularly back up payment records—safety first.