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?"

Answer
“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.”
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Eric Schad
Answered on Jun 16, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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