Will the vehicle be transferred after repaying the loan on Maodou New Car?
3 Answers
If you want to transfer the ownership of a vehicle purchased on Maodou New Car Network with a 48-month installment plan, you need to wait until the lease period reaches 12 months and all payments are fully settled. Additionally, all traffic violations related to the purchased vehicle must be resolved before the transfer can proceed. When processing the transfer, you will need to bring the purchase contract, the owner's ID card, driver's license, and other required documents, and follow the customer service instructions. More details are as follows: 1. Introduction: Maodou New Car is a platform that adopts a "lease-to-own" car purchase model. It is quite reputable and widely recognized. This "lease-to-own" model can promote the development of the automotive industry and alleviate consumers' financial pressure when buying a car. It allows consumers to enjoy the vehicle by paying a small initial amount, enabling more people to own a car. 2. Note: The "lease-to-own" model requires leasing the car first, and the ownership can only be transferred after one year of leasing. This means that during the lease period, the vehicle's ownership does not belong to the buyer but to Maodou New Car Network Co., Ltd. Additionally, this "lease-to-own" model involves certain interest charges, so the total cost of the vehicle is often higher than purchasing the same model outright at a 4S store.
I bought a car on Maodou Xinsheng using their financial leasing plan. After paying off all the installments, they give you a choice: either buy out the vehicle and transfer ownership, or return the car to end the lease. The ownership transfer isn't automatic; you need to actively apply for the buyout, pay any remaining balance or fees, and submit documents like your ID card and contract. After I completed the transfer last year, the car officially became mine, and the process went smoothly. But be careful—if you don't handle it promptly, the car might still be registered under the leasing status, which could be risky in case of an accident. I recommend contacting their customer service early to arrange the transfer documents to avoid future troubles. This model is very flexible and suitable for people who want to buy a car with a low down payment, but don't slack off on the paperwork.
From the perspective of a long-term user, I've experienced the entire process at Maodou New Car. Completing the repayment doesn't mean immediate ownership transfer; they'll let you decide whether to buy out the vehicle. If you choose to buy out, you'll need to contact them to fill out a form, pay some fees for the procedures, and then the vehicle will be transferred to your name. Remember, delaying the process might affect your annual inspection or insurance claims. A friend of mine delayed for several months and ended up paying late fees. So, taking action right after repayment is the safest approach. The advantage of financial leasing is its low entry barrier, but checking the contract details during the ownership transfer is crucial.
