1. The mortgaged vehicle belongs to the mortgagor. Vehicle mortgage registration only represents the entry into force of the mortgage. When the mortgagor is unable to repay the debt, the mortgagee can enjoy the right of compensation for the mortgaged vehicle in priority, that is, after the mortgaged vehicle is sold, the proceeds will be used to pay off the outstanding debt of the mortgagee first, and if there is any surplus after the repayment, it will be owned by the mortgagor, which is also a legitimate right of the mortgagor to own the vehicle ownership.

2. Legal basis: Article 4 of the Civil Code of the People's Republic of China

establishes a mortgage, and the parties concerned shall conclude a mortgage contract in writing.

a mortgage contract generally includes the following clauses:

(1) the type and amount of secured creditor's rights;

(2) the time limit for the debtor to perform the debt;

(3) the name and quantity of the mortgaged property;

(4) the scope of the guarantee.

2. What are the procedures for car mortgage loan

1. The borrower should submit a loan application to the lending institution and provide the lending institution with his ID card, driver's license, car purchase contract and other supporting materials;

2. The lending institution will review the qualifications of the lender, evaluate the value of the vehicle and book the loan amount;

3. The lender and the borrower will sign a loan contract and issue loans, and the borrower will take the vehicle driver's license to the lender;

4. The vehicle mortgage loan needs to be repaid regularly every month.