The contract between a car sales company, a buyer and a credit sales company can be interpreted as an “agreement to use an asset as common collateral for multiple collateralized claims with different creditors”. In this case, the problem is that the creditor and the collateral holder are different.
The same problem arises even if the contract is interpreted in line with the law of substitution.
However, it can be understood consistently as protection of the effect of subrogation and as a special contract based on Article 504 of the Civil Code.