Legal analysis: 1 If the deadline is not met, the bank will take back the car for auction and use the proceeds from the auction to deduct the remaining loan. If the auction proceeds are less than the loan amount, the parties concerned shall make up for it. If the loan amount is excessive, the bank will refund the excess. If the lender refuses to implement it, the bank will sue and the court will sentence it to compulsory execution.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.

Article 668 A loan contract shall be in written form, unless otherwise agreed between natural persons.

The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.

Article 669 When concluding a loan contract, the borrower shall, at the request of the lender, provide the true information about the business activities and financial status related to the loan.

Article 670 Interest on a loan shall not be deducted from the principal in advance. If the interest is deducted from the principal in advance, the loan will be repaid according to the actual loan amount and the interest will be calculated.