According to the law, loans overdue generally mortgages for more than three months, and the bank will auction the collateral after the collection fails.

Vehicle mortgage means that the owner mortgages the vehicle to a bank or individual due to insufficient funds and pays certain interest. Mortgaged vehicles are divided into full-amount mortgaged vehicles and non-full-amount mortgaged vehicles. The full mortgage of the vehicle means that the owner mortgages the vehicle to the bank or individual due to insufficient funds, and the vehicle has no dispute over creditor's rights. Mortgaged vehicles cannot be transferred.