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When you buy a car with a loan, you are technically the owner, but the bank holds the title until you pay it off. For instance, if you have a car loan, the bank retains the title, meaning they are not the owner, you are. Your insurance covers you as the driver, not the bank. You can sell or refinance the car while the loan is active. Once the loan is fully paid, the bank releases the title, and you become the full owner without any agreements in place. This structure is common in car loans, where ownership is established despite the bank holding the title.