Where is the vehicle registration certificate for a car purchased with a loan?
1 Answers
If the car is purchased with a loan, the vehicle registration certificate will be held by the lender. For example, if the loan is from a bank, the registration certificate will be mortgaged to the bank until the loan is fully repaid. More details are as follows: 1. Purchasing a car can be done through installment payments, which is an effective method for car manufacturers to capture market share. There are three common ways to do this. 2. The first method is through bank consumer loans, where you repay the loan in installments. The second method is through financing provided by the car manufacturer, where you repay the manufacturer directly. The third method is through financial leasing. 3. The first two methods are the most commonly used for car installment payments. Installment payments can also be applied when purchasing used cars, helping to reduce the financial pressure of buying a car.