How to Know if a Car Is Pledged: Certified, Sales and MORE

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If you are thinking of acquiring a vehicle and you do not know certain information, this article from How to know if a car is in pledge, it is quite useful to you. Buying a car is a transcendent decision on many occasions, especially if it is a used car.

Here you can find out if the car you want to buy is pledged, so it is important that you inquire about the vehicle’s patent number, since some vehicles are given as collateral for loans. To avoid inconvenience and inconvenience, it is better to be well informed of what to do in these cases.

Follow this interesting read, as there are facts you should know before purchasing a vehicle.

How to know if a car is in pledge?

The generality is that people at the time of acquiring a vehicle put it in pledge to thus have the opportunity to get a loan from a banking institution.

The loans pay 20% as a down payment, then you have two or three years to pay 30% of the debt and the remaining 50% can be paid by returning the car, paying in cash or requesting a loan.

The Pledge status is not lifted until you pay the last portion of the debt. To know if a car is in Prenda is easy, you must follow the steps mentioned below.

The Civil Registry of Chile shows the garments that the vehicles have. The investigation can be done if the car has any legal limitation through the Certificate of Valid Notes and also through the AutoFact Report.

Steps to follow online:

  • Enter the portal in the following link.
  • You should see where it indicates: «Know the history of a used car in minutes.»
  • Then below that statement appears: «Enter the Patent» and «Your email» these fields must be filled in properly. Place the patent of the car of which you want to know if it is in pledge or not.
  • What’s more, insert email address so you can receive the report with everything requested from the vehicle.
  • Finally, you must press «Ask for my Report» and ready.
  • Now, you have to wait for the report to be sent to email.

How to Know if a Car is Pledged: Certificate of Valid Endorsements

The Certificate of Valid Endorsements It is a document that makes it easier to briefly condense the identification data of the car, also the Unique Tax Paper (RUT) of the current owner and previous owners, complaints of theft related to the property, limitations of the current domain.

The Certificate of Valid Annotations is a valid procedure regardless of whether it is processed online or in person and pay 1,090 Chilean pesos.

Also, there is the report named as Autofac report where the information of the car that is used is collected, it also includes other data that are the following:

  • It has information where it mentions if the car is by auction or by crash. Also, if it was resold or repaired.
  • Equally, if the car belonged to a public or private institution, company.
  • Indicates if it was a taxi, mobilization companies, school transport and any other.
  • It also shows the fines that appear registered in the Civil Registry at different times from two weeks to two months.
  • The fines imposed on highways and the status of the process, to find out if they are on the list of unpaid to the Civil Registry.
  • He too history with full names, general company data, RUT numbers.

Requirements and Steps to Follow

The essential requirement is to know the registration number or patent of the vehicle and also make the corresponding payment of 1,090 Chilean pesos at the time of making the request to the Civil Registry shopping cart.

Steps to follow

Online

  • Has to make the entry to the cart of the Civil Registry applications by here.
  • Also, you must select in the section procedures related to vehicles.
  • Press where it indicates: «Vehicle Certificate of Valid Endorsements».
  • Additionally, you must fill in the box with the car license and «Add to Car».
  • Afterwards, you must attach an email address to continue.
  • Go to choose the payment method and the financial institution through which you will do it, you must follow the instructions.
  • That’s all. The application for the Certificate of Valid Annotations has already been made.
  • Finally, check your email because the document is issued immediately.

In a office

Go to any of the offices of the Civil Registry and Identification Service that suits you best, you can make the query here.

  • In the window indicate the reason for request.
  • Now, make the request for the Certificate of Annotations Current of the vehicle.
  • You must indicate the patent number and make the corresponding payment at the window.
  • Ready, they give you the Certificate of Valid Annotations.

It is not legal to acquire a vehicle that has one or more garments, this can be avoided by inquiring into the vehicle’s data before proceeding to make the purchase. Sometimes they solve it by making the payment directly to the banking institution so the sale is made without having to mediate with the owner.

In any case, you should always do everything possible to lift the pledge to the vehicle to have a safe process without major inconveniences, where the car becomes a property and is not the guarantee of a loan debt.

What does it mean for a car to be in Pledge?

The Pledge is an agreement between a citizen who requires a loan for the acquisition of a vehicle and the financial institution that will grant resources for the purchase of the vehicle in exchange for the payment guarantee, within a specified period.

It is then, when the car is in Prenda at the time of the loan application and this is established in the Civil Registry. The banking institution establishes in the contract that the car is pledged as collateral until the owner pays the entire debt.

When the debtor has paid the loan to the banking institution, the Pledge that is on the car is definitively lifted.

The Pledge acts as a limitation in the domain of a car, generally it is formed as a guarantee of debt. It’s a property restriction and in this way it is guaranteed that the vehicle cannot be sold or bought until the garment is lifted.

The Pledge as a document has all the data related to the car and also indicates who the owners have been. With it you can make transfers or transfers of the car without having to go through a complicated verification process.

How to know if a car is in pledge: can you sell a car in this condition?

In the case that a car is in Prenda, it means that the car does not belong to or is the name of the person who intends to sell it. Therefore, You cannot make the transfer of ownership of the vehicle or place it in the name of the buyer.

But it can be the case that the owner of the vehicle has not been able to pay off the debt with the financial institution and is then forced to sell the vehicle. Can sell the car, but it will depend on the agreement reached with the creditor institution.

If a vehicle is sold as a pledge, the debt now belongs to the buyer. Then, it is the new owner who must honor the outstanding payment of the existing debt. Then, having paid the entire debt, you can raise the pledge and register the vehicle in your name.

We have finished this interesting article on How to Know if a Car is in Pledge. Surely all the information presented was very useful, since it is a daily issue that must be dealt with with due knowledge of the operation that is being carried out.

Share this information so more people know what to do about it.

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