Because it is a car mortgage, I mortgaged the car to the loan company. Therefore, if the borrower fails to repay the loan, the lending institution can auction the borrower's car directly to repay the loan. Prior to this, the lending institution would ask the borrower to repay many times, and there would be certain interest charges during the repayment period, which was a relatively high penalty interest, and the repayment pressure of the borrower would increase during this period. Article 577 of the Civil Code: If a party fails to perform its contractual obligations or fails to meet the contract obligations, it shall bear the liabilities for breach of contract such as continuing to perform, taking remedial measures or compensating for losses.