You can not quote your interpretation of the contract to an attorney and expect legal advice. Please have an attorney review the sales contract and financing contract.
This comment does not create an attorney-client relationship. The law and its application by the courts is constantly evolving and changing. This discussion is not to be taken as a definitive guide, and should not be relied upon to determine all fact situations. Each set of facts must be examined separately with the current case and statutory law analyzed and applied accordingly.
To answer the question fully, I would review your documents. I encourage you to take all your paperwork to a local attorney for a free consultation. If one is not available, drive over and I'll take a look at it. I suspect the title indicates a lienholder unless you paid the purchase price in cash so you'll likely be caused to work something out or be unable to obtain free and marketable title going forward.
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