Car mortgage cancellation procedures? What are the risks of buying a mortgage car?

Now you can borrow money whether you buy a house or a car. Today, I want to talk to you about the procedure of canceling automobile mortgage. Now, if many people buy a car through loans, the car belongs to the mortgage institution before the buyer pays back the loan, and the buyer is not the owner. So, let's talk about the procedures for canceling the car mortgage today. What are the risks of buying a mortgage car?

Auto mortgage cancellation procedure

I. Application conditions

(1) The motor vehicle has been registered in this Municipality;

(2) Submitting application materials as prescribed by laws and regulations;

(three) the motor vehicle owner and the mortgagee jointly apply.

Second, the required information

1, the identity certificates of the motor vehicle owner and mortgagee;

2. If the agent is an agent, the identity certificate of the agent (if the agent is a unit, the identity certificate of the agent is also required) and the written authorization of the motor vehicle owner;

3. Motor vehicle registration certificate;

4. The original master contract and mortgage contract concluded between the motor vehicle owner and the mortgagee according to law.

Three. Mortgage/mortgage cancellation registration is not allowed under the following circumstances.

1. The certificate and voucher submitted by the motor vehicle owner are invalid;

2. The motor vehicle meets the compulsory scrapping standards stipulated by the state (except for cancellation of mortgage registration);

3. The motor vehicle is sealed up or detained by the people's court, the people's procuratorate and the administrative law enforcement department according to law;

4. The motor vehicle is stolen;

5. Motor vehicles under customs supervision have not been released from customs supervision or transferred without customs permission;

6. Other circumstances that do not conform to the provisions of laws and administrative regulations.

What are the risks of buying a mortgage car?

1, transfer risk

After the vehicle is mortgaged, it is temporarily owned by the lending institution. Before the mortgage agreement is terminated, the vehicle can not be transferred in time. So buying a car only has the right to use it, not the ownership of the car. This is also the risk of buying a mortgage car at present.

2. Accident risk

Vehicle accidents are still common problems, such as small friction, so how to solve this situation through vehicle mortgage? In fact, the mortgage car can buy regular auto insurance, so after a traffic accident, it will be solved like other vehicles, so the vehicle mortgage car can handle regular auto insurance and annual review, so don't worry too much about this problem.

3. Source risk

Many people are worried about the source of mortgage cars, which is very important. If you accidentally buy an informal mortgage car, the risk will be very great, so the car buyer can check the basic information and situation of the car through these documents, so it is relatively safe, so the risk of buying a formal mortgage car is very small.

If the owner of a motor vehicle mortgages his motor vehicle, he shall apply to the traffic administrative department of the public security organ that handles motor vehicle registration for all the knowledge about the cancellation of mortgage procedures, and what risks will exist in purchasing the mortgaged vehicle. I hope the above introduction can help everyone. If you have time, you can also look at our website to learn about the blow.