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The text explains the relationship between a car owner, a car loan, and the lender. When you buy a car with a loan, the bank technically holds the title, but you are the owner of the vehicle. The insurance covers you as the driver, not the bank. You have the freedom to sell or refinance the car while still making payments. The lender retains the title until you fully pay off the loan, at which point you receive the title and become the complete owner of the vehicle. The arrangement is referred to as an "agreement for sale."