Overhaulin'

If I am paying off a car loan does the bank have the car title?

I have looked everywhere I can't find the car title.... Did I never get it? Does the bank hold on to it until I pay off the loan? Sorry I am new to this.. Thanks So I shouldn't be holding any paper title correct?

Public Comments

1. the lean holder always holds the title to the car till it is paid off.
2. Of course, you have yo pay the car first in order to get the title, that car does not belong to you yet .
3. you have the paper title. they have a lien on the car
4. That's the way it is. The bank owns the car till you pay it off, so, they've got the title. They'll send it to you when you've made the last payment. Sometimes, if the bank knows you well, which may be the case in small towns, they'll send it to you when you have only two or three payments left, depending on the size of your payments, but, they're just protecting their investment. It's their car, till it's paid for. God Bless you.
5. whoever you financed the car trough should have the title. be it a bank or dealer. if you purchased it privately. then the previous owner would have the title