Why you shouldn't be afraid to buy a used car with a mortgage

After a tedious search, you finally found the car of your dreams: one owner, "children's" mileage, no complaints about the appearance or technology, great price. The only thing is that when checking for legal purity, it turned out that the car was pledged. But do not rush to get upset: you can buy “bank” cars. How to make a deal correctly, so as not to end up without money and without a “swallow”, says the AvtoVzglyad portal.

Today, every second new car is bought with borrowed funds. To be more precise, according to the National Bureau of Credit Histories (NBCH), credit cars accounted for 45% of total sales last year. Moreover, in many cases, loans (both automobile and consumer) are issued against the security of a car - on more attractive terms for the client with a reduced interest rate.

If we talk about car loans, then the car is pledged to the bank until the debt is repaid in full. As for the consumer, the financial institution has the right to appropriate the car if the client fails to fulfill its obligations. And, of course, the "collateral" status is usually assigned to vehicles purchased on lease. Again, until the owner pays off the lessor.

Be that as it may, but situations in life are different - often drivers have to sell mortgage cars. Buyers, on the other hand, shy away from them, like hell from incense, fearing to run into scammers and "get on real money." And in vain - there are a lot of crooks, but there are still decent citizens.

If you like a mortgage car, contact the seller and find out all the details. Does the current owner sincerely, sort of, talk about his difficult financial situation and forced measures? Then it makes sense to give him a chance - to drive up to inspect the car. Pay special attention to the documents: make sure that it is the owner in front of you - look at his passport and check the data with the STS if there is no PTS.

Yes, the absence of a TCP should not confuse you, because often the document is kept by the lender. Another thing is a copy of the passport, which the seller explains by the loss of the original. This is a popular scam. The car is taken on credit, the owner gets into debt, requests a duplicate of the TCP from the traffic police and resells the car, as if nothing had happened. And after some time, the court seizes this very car from the new owner.

If no suspicions arise at the stage of checking documents, you and the seller (or better, take a trusted lawyer with you) should visit the office of the bank where the car is pledged. After all, the resale of a car is possible only with the permission of a financial institution. But in no case do not take the merchant's word for it - ask for a written confirmation of the approval of the transaction by the bank.

- There are two ways to buy a vehicle from a financial institution: pay the remaining loan amount to the bank, and the rest to the owner, or reissue the loan to yourself. In both cases, it is necessary to conclude a sale and purchase agreement after the permission of the financial institution, - they commented to the AvtoVzglyad portal at the AvtoSpetsTsentr Group of Companies.

If you are ready to immediately pay the entire amount (both to the bank and to the seller), then the notary certifies the relevant transaction, and then the creditor is notified about it. Do you want to redeem your loan? Then, for starters, you will have to prove your solvency with certificates of average income, and then conclude a tripartite agreement on the assignment of debt rights with the previous owner and the representative of the bank.

We repeat that since the risks are quite high, it is better to make sure that the entire process of buying a mortgaged car is controlled by a lawyer - a person you trust. But the "gray" salons selling "bank" machines, it is better to bypass. Sellers will hum to you for a long time about the impeccable reputation of the center and the transparency of the transaction. And in the end - the same as with malicious private traders: you will be left without money and without a car.