1. The borrower applies for a loan from a lending institution; 2. The lending institution evaluates the mortgaged vehicle; 3. The borrower provides ID card, automobile related procedures and other information; 4. The lending institution shall review the information provided by the borrower; 5. After approval, both parties sign a loan agreement; 6. The borrower handles mortgage registration; 7. The lending institution installs for the borrower; 8. Lending institutions issue loans. Mortgage means that the mortgagor and the creditor conclude an agreement in writing not to transfer the possession of the mortgaged property, and take the property as the guarantee of the creditor's rights. When the debtor fails to perform the debt, the creditor has the right to discount it according to law or give priority to compensation with the price of auction or sale of the property. The amount of mortgage can be determined according to the level of market value of the contract, or the required mortgage can be changed according to the credit rating, market value or the change of credit rating.

People's Republic of China (PRC) Civil Code

Article 419 During the limitation of action for principal creditor's rights, the mortgagee shall exercise the right of mortgage. If it does not exercise, the people's court will not protect it.

Article 188 The limitation of action for requesting the people's court to protect civil rights shall be three years. Where there are other provisions in the law, those provisions shall prevail.

The limitation period of action shall be counted from the date when the creditor knows or should know that the right is damaged and the debtor knows it. Where there are other provisions in the law, those provisions shall prevail. However, the people's court shall not protect the rights that have been damaged for more than 20 years. Under special circumstances, the people's court may decide to extend the time according to the application of the obligee.

General automobile mortgage materials are:

1, the second-generation ID card of the owner;

2. The borrower's own bank debit card;

3. Motor vehicle registration certificate;

4. Motor vehicle driving license (official motor vehicle driving license issued by the local vehicle management office);

5. 1 vehicle spare key;

6. Vehicle compulsory insurance and vehicle commercial insurance effective during the mortgage loan period.