How not to buy a car loan
To buy a car on credit is not a problem – what’s new, what’s used. Rogues use it, and bought a car with a down payment of 15-20%, are willing to sell it at full price.
This is often done on nominees, on the so-called disadvantaged citizens.
You can buy a used car, and after some time he is arrested, and the Bank will take it away – because the car was in pledge, and sell it the owner had no right.
You can claim damages from your car dealer, but usually it is already gone.
But if in the contract of sale that you signed with the seller, written down value of the car, for example, a standard 100 Tr and to require greater amounts from the seller’s impossible.
And to protect yourself 100% from such fraud, there is no single database on a car loan, which makes it possible to check whether there are legitimate claims of the Bank on this car.
How to protect yourself from such “popadalova”?
A few simple rules.
1. Look for the seller’s
How it looks, not nervous, makes an appointment near your home or work or hides the true place of his habitation, the owner sells or some strange type of power of attorney if any, etc.
The point is that normal people will not buy a credit car and sell it, not paying a loan – it is a criminal offence, fraud.
Normal sale of a credit car – you and the seller go to the Bank, pay him the balance owed to the Bank, the Bank shall issue original title and you can safely and legally buy a car. I and my clients do that, an example.
2. Don’t buy a car with a duplicate title. Especially the fresh car up to 5 years – this is the first sign a car loan.
Excuse the seller that the title is lost is the most common. Although, losing little chance PTS – it does not carry the certificate of registration of the vehicle.
On the title must be stamped GAI “Duplicate”, it looks like this (circled in red, figure 1). (photo is clickable)
But sometimes, apparently specially :), forget the traffic police authorities to put such a stamp.
Then we must look at the date of issue of TCP, the place where is written the date of issue of TCP, marked on the photo above figure 2.
Actually many banks and not taken away, leaving title to the owner.
Or there is always the possibility to return the title from the Bank, allegedly for the period, for example, to restore a lost “registration Certificate of the car.”
In this case it is possible to insure that a close look on what basis the car was bought.
The car usually is acquired through the issuance of a “Contract of sale” is abbreviated as “DCT”.
But often, when the car loan, issued the “Agency Agreement”, and if you look closely at the entries in the TCP, it can be seen.