Once the registration has been done to your name, you will become
the legal owner of the car, hence making you responsible for the car finance dues.
https://cardotcheck.tumblr.com/post/611459865752256512/check-outstanding-financ...
The insurance company or the lender may retrieve the car if the owner of the car has not completely paid off the loan
Personal Loan is an amount offered by a Bank or by a society to manage the financial needs to share the cost of a car.
The car owner will be working in the lender company until the full finance amount is compensated by his work.