If the transaction price of the vehicle is less than the loan balance, the seller is required to repay the loan to the same balance as the car seat. If the loan is less than the car price, the difference between the car price and the loan must be given to the seller.
To put it simply, both sides should retreat more first and make up less. Then the owner will make a promise to the bank or supplement the collateral according to the requirements of the bank. The owner repays the loan as required by the bank.
Extended data:
First, it affects my credit record in the bank. Some banks will not issue loans, and some banks issue loans but are higher than others. If the principal and interest are not repaid on time for more than three consecutive times, all the remaining loans shall be repaid in one lump sum. If you don't have a deposit, you should take back your car and continue to retain the right of recourse.
When I buy a car by installment, the car can be regarded as my property.
After many people successfully bought a car with a car loan, they found that they could not afford the monthly repayment task, so they wanted to sell the car to pay off their debts. So can the mortgage car purchased by car loan be bought and sold? Today, Bian Xiao will introduce it to you.
Friends who have applied for auto loans know that if they choose to buy a car with a loan, whether they are looking for a bank loan or a small loan company, their cars are mortgaged to the lending institution. The loan applicant does not own the property right of the car.
As the loan applicant doesn't own the property right of the car, he can't handle the transfer and sell his car.
Source: Baidu Encyclopedia-Auto Loan