Is it legal for vehicle mortgage to become financial lease?

Whether the vehicle mortgage loan becomes a financial lease is legal or not depends on the ownership of the owner when signing the contract. If the title of the signed contract is vehicle mortgage loan, it becomes illegal for financial leasing, and the owner can sue the bank or financial company. However, if the owner does not carefully observe that the contract is a financial lease when signing the contract, then this situation is legal. After all, the owner has signed the contract.

Up to now, there are always two kinds of automobile mortgage contracts, one is a loan contract signed by a bank or a small loan company, and the other is a lease contract signed by an automobile financing leasing company. These two companies are actually a financing channel allowed by national financial institutions. Only if the owner is cheated by the loan company unconsciously, then the lease contract is illegal, but if the owner signs the contract under the known circumstances, then this situation is legal.

For the whole car mortgage loan, it becomes a financial lease. In this case, if the owner is completely unaware, he can sue the financial institution or lending institution through the collected information. After all, the owner doesn't know that the contract has been changed or replaced. Can be identified as fraud by lending institutions or financial institutions, and can directly sue or report.

However, if the company handling the loan is an auto financing leasing company when signing the vehicle mortgage loan, then the signed contract, even the final vehicle mortgage loan contract, still belongs to the financing lease, so the owner of this situation is informed, which can basically be the owner's own reason. If the owner is really dissatisfied with this, he can also file a lawsuit against the company.