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When you buy a car with a loan, the bank holds the title until you pay it off, but you are the owner of the vehicle. Although you don’t have the title, you can use the car, insure it, sell it, or refinance it. The bank’s role is to hold the title as a security for the loan. Once you complete the payments, the bank sends you the title, making you the full owner without any agreements in place. This arrangement highlights the distinction between the holder of the title and the actual owner of the car.