Who Owns it?
own it. The vehicle is 'yours' whether you pay for it with cash, make
monthly payments and/or finance it.If your financing other rules apply
and you'll have to meet the obligations that were agreed upon between
you and the lender.
If you don't, they have the right to repossess it.
As mentioned above, if financing you'll need to decide on a down payment. You can trade-in a second vehicle and use the equity towards the down payment.
What you will be able to sell your car for in the future depends on how well you maintain it.This means be smart and regularly schedule maintenance appointments!
End of Payments
As soon as you have paid off what you owe on the contract, your vehicle is officially 'yours.' After this you will receive a Green Slip as proof that the vehicle is paid off and in your name now.