A lienholder (also known as a lienor) is a person, corporation, or financial institution that co-buys or sells you the property on credit. For example, if your local bank provides you with an auto loan to fund the purchase of a car, they are the lienholder. You are the car’s practical owner. If you can pay off the loan, you have the sole right to use and even sell the vehicle. However, as long as the lienholder has a financial investment in your car, they are the legal owner, and their name will appear on crucial paperwork. This is not the same as leasing a car since when you lease a vehicle, the lessor is the complete owner of the car, and you are only borrowing it from them. An automobile that is just leased cannot be lawfully sold.