Cars bought by installment cannot be mortgaged. Car purchase by installment has been mortgaged once, and the vehicle registration certificate cannot be mortgaged again. During this period, if the installment payment is not paid off, the ownership of the car belongs to the lending institution and the owner only enjoys the right to use the car. Property rights do not belong to individuals and cannot be mortgaged again. Only by paying off the installment payment in advance and canceling the vehicle mortgage can the vehicle belong to an individual and can it be used to apply for a mortgage loan.

Matters needing attention in secondary mortgage:

1. Not all cars can handle two mortgage. The premise of handling the second mortgage of automobile is that there must be a loanable amount;

2. The interest rate in two mortgage is generally much higher than the interest rate of the first mortgage;

It will be easier to find a local loan company for the second mortgage, but it is not easy to pass the bank approval.

4. If the borrower's credit information is not good, it is basically impossible to apply for a second mortgage;

5. The borrower's income must be higher than twice the total debt before he can apply for a second mortgage.