Quite often, citizens buy a car on credit. However, under the terms of the loan agreement, they do not have the right to sell it until debt obligations are fully repaid . But unscrupulous individuals have developed a whole scheme to circumvent this rule. They resell the car to people who do not suspect that the car is in an encumbrance. How to check a car for a deposit in banks will be described in this article.
Owner restrictions
As mentioned above, for those who buy a car with a loan, certain restrictions apply. For example, a car is pledged to a bank when a sales contract is still being drawn up. That is, even at the time of purchase of the vehicle, the future car owner no longer has the right to completely dispose of it. Or in another option, when a certain amount of money is required, and the bank is ready to issue it against the security of the machine as a guarantee of return on invested funds. Naturally, the bank takes the registration certificate for the car and keeps it at home until the borrower repays the last payment.
In fact, the lack of a technical passport is not the reason that prevents the resale of vehicles. The car owner makes a copy of the TCP and can, without the above document, sell the car to another person. In addition, there is no single database of all pledged cars. It would seem that this problem could be solved if banks were more responsible for maintaining such a base. However, in practice it turns out that it does not matter for them who to pick up the car from in case of non-payment of debt. Thus, in order not to become a victim of a fraudster, you need to know how to check a car for a deposit in banks.
The main signs of a pledged car
Most signs that a car was bought on credit are indirect. Only by analyzing them in general, you can get a detailed picture of reality. Most often, inattentive or too gullible buyers become victims of fraudsters. After all, it is enough to know the following nuances in order not to purchase a dysfunctional vehicle:
- Duplicate Title. In the traffic police, you can easily get it by writing a statement to the loss of the old. Many banks do not pick up the original vehicle passport at all , citing the fact that it can be easily obtained for a nominal fee.
- If the seller has passed less than three years from the moment of acquiring the car, and he wants to sell it. Typically, a car loan does not exceed this period.
- The seller does not have all the necessary documents confirming that he bought it for cash (check, contract of sale).
- Availability of an entry in the TCP that the vehicle was purchased under a contract agreement.
So, deciding to buy a new car, you need to analyze the above signs. Having received an affirmative answer that she is burdened, it is better to look for another option. But if all the signs indicate that it is “clean”, then you can get acquainted with additional information and ask how to check the car for a loan or a deposit in a bank.
Recommendations when choosing a car
Of course, it is best to buy a car at a car dealership and without a run. But not all citizens have this opportunity. Moreover, the attractive price, lack of paperwork do their job, and buyers become owners of the car as collateral. It’s another matter if most motorists were initially interested in: is it possible to check a car for a deposit when buying it - and not find unpleasant “surprises” after the transaction.
Thus, if it is not possible to buy a vehicle at a car dealership, then it is worth paying attention to the ideal condition of the car and its low cost. This indicates that for some reason they want to get rid of the car. And perhaps it is even stolen, which will entail even greater problems than the balance of the outstanding debt from the lender.
How to check a car for a deposit in banks
If you consider it from a theoretical point of view, you can contact all existing banks and request information from them on the availability of a pledge of a particular car. Naturally, in practice this is simply not feasible. No bank will give such information, because it does not have the right to do so. Everything related to customers is confidential.
If you are lucky, you can find a car in the database of banks and dealerships. But, unfortunately, not all credit organizations send their reports there. That is why information of this kind is limited and is not a reliable confirmation of the fact of encumbrance. So how to check a car, car, car for a deposit? There is an answer to this question. For example, you can see the insurance policy "Casco". If a bank is indicated in the “beneficiary” column, this is evidence that the car was purchased on credit. Trying to protect themselves from all sides, banks oblige their borrowers to insure vehicles so that in the event of an insured event, the company will cover them with all the damages. Thus, even the presence of a "Casco" policy at the seller should already alert. Due to the high cost of this insurance, ordinary drivers rarely purchase it.
You can contact the credit bureau and make a request to the seller. If in his history of credit payments there is a record of a car loan, then this will indicate that it is better to look for another purchase option.
Who could be the victim of scammers - victim reviews
In order to enjoy driving the purchased car and not worry about the bailiffs coming, you must carefully study all the documents and make some inquiries. The most popular ways to check a car for collateral in a bank have been described above. But even the absence of all the above signs cannot guarantee that the machine is not encumbered. And, unfortunately, quite often citizens become victims of unscrupulous sellers.
For example, you can often see and hear the reviews of drivers who purchased a car that was not pledged by a bank, but by a private person, microcredit organization, or pawnshop. Then, buyers did not have the opportunity to check the status of the car.
What to do if the purchased car is pledged?
If, nevertheless, such an unpleasant incident happened to the buyer and it turned out that now his car is in an encumbrance with a credit organization, then there is a way out of this situation. You can sue and claim damages from an unscrupulous seller. However, most often, such sellers try to get rid of the car precisely because of the inability to pay the debt. That is why the court, having decided to recover the debt from the previous owner, can maximize its recognition as insolvent, that is, bankrupt. In this case, this does not make it easier for the bank or the injured party. The latter will repay the debt for the previous owner, if he has such an opportunity, and the bank may even lose its profit. Thus, knowing how to check the car for a deposit, you can avoid such unpleasant moments.
Buyer Rights
In order not to become a victim of an unscrupulous seller, you should know your rights. For example, a court often leaves ownership to a new owner. But to achieve this, you will need to collect more than one document and certificate. If it is not possible to prove the fact that you did not know about the burden of the purchase, then by decision of the court the car may be seized. But in this case, the injured party has the full right to demand reimbursement of the money spent on the car. In any case, one should know not only how to check a car for a deposit in banks, but also its rights.
Useful Tips
Besides the fact that you can independently check the “status” of the car, there are also special organizations. Such companies promise to give a one hundred percent guarantee and assure that they know how to check if the car is in a pledge. In fact, you should not believe such promises, because even the traffic police does not keep a record of cars that are encumbered.
If the injured buyer decides to dispose of the new property in the same way as the previous owner, then he must understand all subsequent liability.