Because the mortgage car borrowed money, the loan company must have something to protect itself, so there is no need to install GPS when buying a used car. This is a monitoring tool. Regular purchase of used cars is generally not added. The car has been transferred, and it is useless to install it.
Buying a car by stages and installing GPS in order to minimize risk control is the risk control in finance. Once the vehicle is equipped with GPS, it means that the risk control company (or financial company) keeps an eye on your car for 24 hours, and the vehicle is completely under monitoring. Once you fail to repay the loan or breach the contract, the risk control company will send professional collectors to tow the vehicle (recover the vehicle) according to the installment service contract, and it is useless to appeal to the court.
Legal basis: Article 14 of the Road Traffic Safety Law of the People's Republic of China. The state implements a compulsory scrapping system for motor vehicles, and sets different scrapping standards according to their safety and technical conditions and different uses. Motor vehicles that should be scrapped must be cancelled in time. Motor vehicles that meet the scrapping standards are not allowed to drive on the road. Scrapping large passenger cars, trucks and other operating vehicles shall be disintegrated under the supervision of the traffic management department of the public security organ.