Unfortunately, no, because the loan company holds the title and therefore owns the car. They might ask for more than $1. I'm going to go to a branch of the bank tomorrow and ask their advice. The whole experience has really gotten me stressed, though.
tell the loan company you are giving them $1 period-take it or leave it. be tough
and if they say no, tell them this is a hostile takeover, and you're buying out the company, you saw this happen with AT&T Wireless and now you want your own company.