Separate title from security.
Who is the legal owner, who holds the title and who has a lien? These can be different questions. Vehicle title handling varies by state and agreement. A borrower may own equipment while a creditor retains a security interest; a lessor may own leased equipment. Ask what gives you lien-free title at completion.
Find the reach of the obligation
Ask whether collateral is limited to the named vehicle or extends to other assets, proceeds or fleet obligations. Check existing liens, sale restrictions, cross-default and cross-collateral terms with your legal adviser. A new financing proposal does not override existing restrictions.
A guarantee is a separate commitment
Ask whether a personal guarantee is required, who signs it, whether it is limited or continuing, what events trigger liability and what releases it. Do not infer a narrow guarantee from a small down payment or from the product label. Get legal advice on the actual text before signing.
Plan the release
Ask what payment and other conditions must be completed to release each lien, return title or end a guarantee. Request written confirmation of the process and responsible party rather than assuming it happens instantly after a final payment.