Vehicle registration certificate is the legal proof of vehicle ownership. When buying a car with a loan, the vehicle registration certificate will be mortgaged to the bank or other financial institution that handles the car loan. After paying off the debt, you need to go to the bank and the vehicle management office to cancel the mortgage.
Now more and more people will choose loans to buy cars. You can't get a vehicle registration certificate if you borrow money to buy a car. Because the ownership of the car belongs to the bank, it is not allowed to sell the car until the debt is paid off. Moreover, even if the vehicle is sold at this time, the vehicle registration certificate is not in the hands of the owner and it is impossible to handle the transfer. Most of the mortgaged vehicles that are often seen in the market are of this kind. During the period of outstanding debt, the vehicle is sold at a low price without a vehicle registration certificate. Users are advised to identify whether the used car is still mortgaged, whether the owner has paid off the debt and whether the vehicle registration certificate has been cancelled. If these conditions are not met, you can't buy such a used car. Friends who buy used cars must check all the formalities before seeing them. Cars can only be traded if the vehicle procedures are complete. Don't buy it if the formalities are incomplete. No matter how good the car is, the price is right. Million car purchase subsidy