Where is the Title Deed for an Installment Car?
1 Answers
Installment car title deeds are held at the vehicle management office. Below are the conditions for purchasing a car on installment: 1. Age: Must be between 18 and 60 years old. 2. Documents: Original and photocopy of the borrower's ID card, original household registration book, and original property ownership certificate. 3. Income Proof: Income certificate issued by the borrower's employer. 4. Repayment Period: Choose the car model and negotiate the down payment ratio, loan amount, and repayment period with the dealer. 5. Procedures: Fill out the loan application form and complete the loan procedures. Below is additional information on selling a car purchased on installment: 1. Installment Not Fully Paid: If the installment is not fully paid, the installment payment can be transferred along with the car to the new owner. 2. Installment Matured: Once the installment payment is matured, the car can be freely transferred. 3. Full Payment: You can request a full payment and continue repaying the loan yourself.