You can't buy a car with a mortgage. Because the first beneficiary of the mortgage car is the bank, and the vehicle registration certificate is still mortgaged in the bank, you can only buy it if you pay off the loan and go to the vehicle management office for mortgage procedures. Automobile mortgage is a loan obtained from a financial institution or an automobile consumption loan company with the borrower's or a third party's car or self-purchased car as collateral. In any of the following circumstances, the transfer registration shall not be handled: (1) the contents of the motor vehicle and the vehicle file are inconsistent; (2) Motor vehicles subject to customs supervision have not been deregulated or approved for transfer by the customs; (3) The motor vehicle is in the period of mortgage registration and pledge filing;
Can a small loan company buy a mortgage car?
Can I buy a car by mortgage?
Mortgage cars can be bought, not all mortgage cars are illegal, so when buying a mortgage car, we must see whose car it belongs to, whether the car can go through the transfer formalities at the vehicle management office, and whether the car still has a loan to repay. For example, buying a car with a car loan is a vehicle entrusted by the bank, and the bank has the right to dispose of it. Such a vehicle can be transferred and purchased without risk. However, if the car loan buyer mortgages the car to other companies (informal financing companies, which are illegally seized by the company) during the loan repayment period, there will be risks.
Mortgaged car
Some people think that the definition of a mortgage car is actually not. Mortgage car has vehicle registration certificate, driving license, car purchase invoice and tax payment certificate. It's just that the motor vehicle registration certificate, also known as the green certificate, is not in hand, but in the bank or auto finance that issues loans. It is a vehicle that has not gone through the vehicle formalities or paid taxes, has not been filed by the vehicle management office or has no business qualification but is engaged in business activities.
What are the risks of buying a mortgage car?
The biggest risk is that you can't transfer ownership. Transfer of ownership is the process of turning something belonging to one owner into another. Once you can't transfer, you can't hold it even if you spend money to buy it.
Is it legal to buy a mortgage car?
Legal. Mortgaged cars and mortgaged houses should belong to the same category, that is, real estate mortgage provided by financial institutions when owners or homeowners are in urgent need of cash.
There are two sources of mortgage cars: one is directly from investment companies, guarantee companies and pawn shops recognized by the state, and the other is loan pledge from private financial companies.
Before the mortgage is released, the mortgaged car cannot be transferred. If it is purchased without mortgage, it is actually a form of mortgage. If the mortgage car can be transferred, the owner must sign a mortgage cancellation agreement, but it is very difficult, so most mortgage cars cannot be transferred.
Extended data
Requirements and materials for applying for car loan service for car mortgage:
1. has a stable occupation, and the applicant has the ownership of the local mortgaged vehicle.
2, living and working in the city for a long time, to carry out business occupation and economic income.
3, motor vehicle registration certificate, driving license, purchase tax certificate (this), car purchase invoice.
4. Insurance policy, travel tax, and relevant tax payment certificates for imported vehicles.
5. ID card (temporary residence permit or residence permit within the validity period provided by non-local account customers)
6. Other documents required by the Cooperation Organization.