What if I sell a car and have a car loan? In fact, this is unreasonable.

; ? Many borrowers know that if they have a car in their name, they can use it as collateral to apply for automobile mortgage from banks or other financial institutions. There are two kinds of automobile mortgage, one is unlicensed automobile mortgage, and the other is unlicensed automobile mortgage. What if I sell a car and have a car loan? In fact, this is unreasonable!

What if I sell a car and have a car loan?

First of all, we must make it clear that after the car is mortgaged to a financial institution, the financial institution has no right to dispose of the borrower's car at will without the borrower's consent.

According to the regulations, if the creditor transfers its rights, it shall notify the debtor. Without notice, the assignment is invalid to the debtor. The notice of the creditor's transfer of rights shall not be revoked, except with the consent of the transferee.

In this case, if it is a mortgage car, it still owes money to the bank, and you can entrust the bank to tow the car back. After all, the car is mortgaged to the bank, which is the first creditor. Once it arrives, it can take measures to collect cars. If it is sold by other financial institutions, the borrower can also directly find the car and forcibly drive it back.

The most important thing is how to pay back the subsequent car loan. In principle, the transaction of this vehicle requires the consent of the mortgagee, otherwise the vehicle cannot be traded.

In a word, if the borrower's car is sold privately. It is ok for the original owner to redeem the car or drive it back to talk about repaying the loan. When dealing with collateral, it must be auctioned and transferred according to the requirements of national laws.

The above is "What should I do if I sell a car with a mortgage?" I hope I can help you by sharing related content!