Because the motor vehicle registration certificate is an essential property right certificate of the vehicle, it is kept by the owner and is not carried with the vehicle. The vehicle belongs to the lender, that is to say, it does not involve the transfer of ownership, so the loan company does not own the "ownership" of the vehicle and is not allowed to drive or steal the vehicle at will.
Moreover, Article 53 of the Guarantee Law of People's Republic of China (PRC) stipulates that if the mortgagee is not paid off at the expiration of the debt performance period, he may agree with the mortgagor to be compensated by discounting the collateral or auctioning or selling the collateral; If the agreement fails, the mortgagee may bring a lawsuit to the people's court.
After the mortgage is discounted, auctioned or sold, the part of the price that exceeds the amount of creditor's rights belongs to the mortgagor, and the insufficient part is paid off by the debtor. That is to say, even if the two parties fail to negotiate, the loan company can bring a lawsuit to the people's court, and the court will enforce the debt problem of both parties.
Extended data:
If the car loan is overdue or the loan is not paid off, the loan company will find the car to drive away through various channels. After the car leaves, the car buyer needs to go to the lending institution to pay the arrears and late fees for the car to redeem the car. Under normal circumstances, after the car leaves, the lending institution will charge a high late fee.
At this time, it is necessary to look at the original car purchase agreement to see if there is a standard for charging late fees. If yes, it is necessary to confirm whether to collect the late payment fee according to the agreement. If so, there's nothing you can do. You have to hand it in.
If not, you can not pay it back, but if it is forced by the lending institution, the lender can seek legal help and can handle it through judicial arbitration. ?
People's Daily Online-The man borrowed money to buy a car but was driven away. Loan company: The car is not yours before repayment.
China People's Congress Network-People's Republic of China (PRC) Guarantee Law
Baidu encyclopedia-vehicle registration certificate