The FNP talked about a way to check the car for collateral

Most often, a car is secured when a person takes out a car loan to purchase it. The outstanding debt and encumbrance on the vehicle do not prevent it from being sold, and it will also not become an obstacle to registering the car with the traffic police. The Federal Notary Chamber (FNP) reminded Izvestia about this on July 31.

"At the same time, the financial obligations of the former owner are transferred to the new owner. And if he stops paying off the loan, the bank will switch to the newly minted owner. You will have to return either the money that the other person owes, or the car," they said.

Therefore, before purchasing a car or any other vehicle, you should check it through the notary's public collateral registry, and you can find it on the FNP portal.

"To check, you need to enter the VIN, PIN, chassis or body number of the car. An alternative option is to check the seller. The registry provides the possibility to search "for information about the pledgor." If the property is listed in the registry with an active status, it means that it is burdened and it is unsafe to buy it. If the system does not issue any data or there is a record of the withdrawal of the deposit, everything is clear, you can plan the transaction. Anyone can use the service for free," explained the FNP.

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This is less than last year due to the decline in the lending market.

Additionally, you can obtain an extract from the registry from a notary in the office or online. At the same time, if the car was pledged, but the mortgagee, for example, a bank, did not report this, and the information did not appear in the registry, he assumes all risks. In this case, it is almost impossible to foreclose on the mortgaged property sold to a bona fide buyer.

On average, more than 5.5 thousand vehicle notifications are entered into the notary's collateral register every day, the FNP added.

Automotive expert Maxim Rakitin said on July 29 that when buying a used car, you need to pay attention to the VIN numbers and compare them with the data in the documents, as well as check the bottom of the car in case the numbers were welded into the body.

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