How to Consult Vehicle Restrictions - Updated Information

 

 

 

 

 

In this article, you will obtain updated information that will help you know how to check vehicle restrictions.

As we well know, a vehicle can be restricted for various reasons, such as a legal process, a sale with a financial institution, or as a guarantee of payment on financing.

In practice, vehicle restrictions are designed to ensure that the vehicle is not sold or transferred until the debt is fully paid off.

In the case of a lawsuit, it ends when the court determines it via legal action. Therefore, driver owners should consult vehicle restrictions to find out their conditions.

The Reality of the Vehicle Market

As the vehicle market is always heated and constantly growing, negotiations involving pre-owned cars.

Or used must be made with information that really shows the general condition of a vehicle.

In Brazil, around 14 million used or used vehicles are sold. When someone finances a vehicle, it is automatically registered with the SNG – National Lien System.

Therefore, this restriction only ends when the buyer pays for the vehicle in full. When paying, the financial institution removes the Lien within 5 to 10 business days after payment.

How to Consult Debts and Vehicle RestrictionsFiduciary Alienation

Fiduciary Alienation is made when the vehicle is considered collateral for financing. It is granted by a Bank or Institution that released the credit.

This way, as long as the vehicle is not paid off, it has a restriction with the Bank, and when someone consults vehicle restrictions, this restriction will appear.

In fiduciary alienation, the creditor has greater security of receiving payment for the credit that was released to the buyer.

The vehicle is sold to the financial institution until the car is paid off. If there is a default in paying the installments, the institution can search and seize the vehicle.

But when the vehicle is seized due to default or non-compliance with the contract made with the financial institution, it will not be able to keep the asset.

Therefore, the vehicle must be sold or auctioned via legal action. So that the customer does not have any type of problem, he must pay the financing installments on time.

To consult restrictions on vehicles with fiduciary alienations, the interested party simply needs to have the vehicle documents on hand and check whether the restriction that shows the alienation is included.

Therefore, he will see that the vehicle is sold to a Bank or financial institution and that the vehicle is financed.

How to Consult Vehicle Restrictions – Leasing

Seeing restrictions on vehicles with leasing is not very difficult.

This is because this plan works like a vehicle rental, where the owner driver can use the vehicle in full condition but with the Leasing restriction, at the end of the payment.

The vehicle is transferred to the owners name by Engrave.

As it is a plan very similar to a rental, the driver of the vehicle cannot under any circumstances sell or negotiate the car until he pays off the financing. The financial institution has full ownership of the vehicle.

To check restrictions on vehicles with commercial leasing based on the license plate, the interested party simply needs to have the car document with the license plate noted and request an appointment with the DETRAN in their state.

With this query, it is possible to know the following conditions of the vehicles;

  • Active debts.
  • Fines.
  • Auction passes.
  • Search and seizure.
  • History of theft or robbery.
  • Mileage tampering.
  • More information.

This information is available to drivers who negotiate or want to know the condition of a vehicle, and it is important to consult vehicle restrictions before completing a purchase or sale of a car or motorcycle.

Important Information About Leasing

1 – The owner driver who purchased a vehicle under the leasing plan Leasing is fully responsible for the fines that occur while he has a contract with the institution that released the credit.

2 – If the vehicle undergoes removal, the driver-owner must bear all the costs that are part of the procedure.

Administrative fees and other related costs are also your responsibility.

3 – In case of default, the lessor has the right to take the vehicle back. In addition, you may charge a 2% fine for late payment, late payment interest of 1% per month, in addition to a retention fee.

4 – Leasing differs from financing. In financing, the individual buyer or CNPJ has the vehicle transferred to his name or company name and pays the monthly installments.

In Leasing, the vehicle remains in the name of the institution until the vehicle is paid in full.

5 Advantages

The great advantage of leasing is that it does not charge loan fees like the IOF – Tax on Financial Transactions.

Therefore, interest and monetary corrections are lower than those for vehicle financing.

In addition, buyers are not charged any down payment under the Leasing plan. This way, it is possible to pay the total value of the vehicle in installments and still pay much smaller monthly installments than financing.

In leasing, credit is also released faster than vehicle financing.

This facility exists because the vehicle is in the name of the institution and not the customer. The customer can also lease another vehicle within 2 years and enjoy the same credit rates.

6 – Disadvantages

As it is an asset leased from a financial institution, the customer cannot transfer the vehicle in a negotiation, nor the installments.

Therefore, he must remain with the vehicle until the end of the Leasing lease plan.

The search and seizure of the leased vehicle is much easier than with vehicle financing such as CDC – Direct Consumer Creditfor example. This happens because the vehicle is in the name of the institution and not the buyer.

With this information we see the importance of checking vehicle restrictions, they will help you to know the condition of the vehicle being traded and also any problems that may be present in the vehicle.

How to Consult Vehicle Restrictions – Domain reservation

This type of negotiation is done without any intervention from Banks or Financial Institutions. In other words, it is directly linked between the buyer and the seller.

Let’s check how to check vehicle restrictions with domain reservation:

1 – Administrative restriction

This restriction is applied by DETRAN – State Department of Transit where the vehicle is registered. It is valid as long as the vehicle is not transferred and has a maximum period of 30 days for this transition.

2 – Judicial restraint

When consulting vehicle restrictions, in some cases the judicial restriction will be shown. It happens when the buyer does not comply with the financing contract with the financial institution that released the credit.

In the case of judicial restriction, it takes longer to remove it from the vehicle. This happens because there is a pending case in court and a process that needs to be legally completed via legal action.

Furthermore, in many cases the vehicle does not return to the previous owner, this is because a judgment has been issued that determines the sale of the vehicle.

When consulting vehicle restrictions, you will notice that they exist in two versions. National restrictions and state restrictions.

This type of restriction is related to the basis of the restriction in registration, if the restriction is national it will appear in DENATRAN, if it is statewide it will appear in DETRAN.

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