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Does a lender such as Lightstream own the car if I get an auto loan from them?
"I want to buy a car, and I found a good deal with an online lender called Lightstream.
Do I own the car or does Lightstream own the car once the deal is closed?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“You own the car; however, depending on the state you’re in, either you or the lender may hold the title. Who holds the title has little to do with ownership.
Since your name is on the title and registration, you own the vehicle. However, the lender is listed as the lienholder. This means that if you fail to meet your loan payment obligation, they can repossess the car under your state’s repossession laws.”
View full answer
- Gregory R.
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