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Running a truck, the goods are not red, and the car is towed away by the bank auction. Do you want to pay back the rest of the loan yourself?
Need.

If the vehicle with outstanding loan is towed away, it will generally be auctioned to repay the debt. If the auction proceeds cannot pay off the debts, the parties will also pay off the debts in arrears.

You can't repay the debt with the money you auctioned the car, so you still have to pay it back.