Whose name should be on the car loan vehicle license?
1 Answers
The vehicle license for a car purchased through a loan should bear the name of the buyer. The owner's name listed on the vehicle license is not just a matter of personal identification; it legally recognizes the registered owner as the rightful owner of the vehicle. Here is more information about purchasing a car through a loan: 1. The buyer has the legal right to use and dispose of the property. In the event of traffic accidents or financial disputes, the buyer is also the legally recognized party responsible. 2. Buying a car through a loan means that the borrower pays a portion of the purchase price upfront, with the remaining amount provided by the lender in installments. 3. After meeting a series of loan conditions, the buyer can smoothly complete the procedures by applying for a personal car loan at the lending bank. Additionally, after submitting the loan documents, the bank will need to conduct a review and confirmation before approving the loan.