When you finance a car purchase through an auto loan, the bank or the lending company becomes the owner of the car since they’ve paid the majority of the unit’s selling price.You’ll become the legal owner of the car once you’ve settled all your dues and obligations with the bank.Just remember, though, that within the life of the loan agreement or contract, you must take proper care of the car, from maintenance to insurance.With this in mind, it’s important that you’re diligent and responsible enough over car care and loan payments. Otherwise, you’ll run the risk of getting your car repossessed (or “hatak”) by the bank.