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In this discussion, the speaker explains that when you buy a car with a loan, the bank holds the title, making them the technical owner until the loan is paid off. However, the borrower is considered the actual owner of the vehicle, as they can use, sell, or refinance it. The insurance covers the driver, not the bank. Once the loan is fully paid, the bank transfers the title, granting complete ownership to the borrower, concluding the agreement for sale. This arrangement highlights the distinction between title holding and ownership rights in car financing.