Secondary Market

Due to the dynamics of the credit market there is precedent for removal of the car is in the mortgage and who succeeded to this point, several owners. In fact, the bona fide purchaser is collateral by the debtor on any of the previous owners. Than it threatens the usual buyers? How this situation could affect the secondary market cars? Try to understand … It's hard not to notice what the consequences for bona fide purchasers may have created a precedent, which has the formal characteristics of law. From now on, when the pledge of the vehicle is not registered anywhere and information about this can not be obtained, purchase of any car in the secondary market is extremely risky, since any of the previous owners could use the vehicle as collateral.

Today legal and technical remedies used car buyer does not exist. This means that if you do not modify the current practice of mortgage vehicles, the secondary market of expensive cars greatly shaken, and with it likely to reduce size of the market of new cars, because in most cases the funds to buy new machines from the sale of second-hand. If you look at this situation on the other hand, we can see artless benefit dealers. After the purchase of machinery or by hand at the car becomes a lottery, most buyers will go to the company's reputation and guarantees. Thus, will thrive trade-in, increase sales of new and used cars through car dealers. Of course, we can assume that the cabin might try to sell 'unclean' car, but the legal support company certainly solve any problems. Since many of the security services have access to the credit histories of people and their personal business. The most interesting thing in this situation, the lender can legally find their funds in full volume from the last owner of the mortgaged vehicle, even if the owner knew of the existence of such a mortgage, and he in turn can refer only to the previous seller.