A car bought by mortgage can be used by a second mortgage if the balance is not paid off. The mortgage-related clauses are as follows: 1. According to Article 35 of the Guarantee Law, if the value of the mortgaged property is greater than the balance of the secured creditor's rights, it may be mortgaged again, but it shall not exceed the balance;

2. Article 41 of the Guarantee Law stipulates that if a party mortgages a vehicle, it shall register the mortgaged property with the vehicle registration department, and the mortgage contract shall take effect from the date of registration;

3. If the mortgage contract comes into effect as of the date of signing, the registered collateral shall be paid off in accordance with the provisions of the first paragraph of this article; If it is not registered, it shall be paid in the order of the effective time of the contract; If the order is the same, it shall be paid in proportion to the creditor's rights. The registered collateral should be paid before the unregistered collateral.

Million car purchase subsidy