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When you buy a car with a loan, the bank holds the title until you pay it off, meaning you are the owner but they retain title rights. For example, if you have a car loan, the bank technically owns the title, but you have full ownership rights over the vehicle, allowing you to sell or refinance it. Your insurance covers you as the driver, not the bank. Once you pay off the loan, the bank sends you the title, and you become the full owner without any conditions. This arrangement is standard in auto financing, where you're considered the owner during the loan period.