Vehicles mortgaged to lending institutions are still in the state of being seized by the judicial department according to law, usually because of illegal sources or other circumstances.

There are two main ways to mortgage a car:

1. Many users will buy a car by applying for a loan from the bank. In fact, in essence, cars belong to banks. The user must repay the loan on time until all the loans and principal are paid off, and then go through the mortgage cancellation procedures with the borrower and return the big account book.

2. Some mortgage users usually get financing in the form of car mortgage when they encounter difficulties in capital turnover. In this way, once the borrower fails to repay the loan on time, the lending institution can apply for auction of the mortgage car.

3. * * * Similarities They have the same feature that even if the buyer bought a mortgage car before the mortgage agreement was terminated, it could not be transferred.

Extended data:

By the end of 20 17, the automobile mortgage loan business, which was first carried out in the automobile pawn financing industry, had been developed and improved for more than ten years. It has a special parking garage and professional vehicles for maintenance, and will provide cleaning services for vehicles when the pledge is lifted. It has become the standard business of several pawn shops.

The characteristics of automobile pawn financing service are:

1, simple procedures and quick turnover: the fastest loan can reach 1 hour.

2. High interest rate, suitable for short-term turnover: higher than bank loans in the same period, suitable for short-term capital turnover.

3. The interest rate can be calculated flexibly and daily: the interest rate of pawn financing is flexible and can be negotiated according to your actual situation.

Baidu encyclopedia-automobile mortgage