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In a car financing scenario, while the bank holds the title until the loan is paid off, you, as the buyer, are the actual owner of the vehicle. This means you can drive, sell, or refinance the car as you wish, even though the bank technically owns the title. Your insurance covers you as the driver, not the bank. Once the loan is fully paid, the bank sends you the title, confirming your complete ownership. Thus, the relationship with the lender is structured as an agreement for sale until the debt is settled.