LogFAQs > #878002108

Remember to contact your lien holder and get the title of your car. I'm going through that right now with my bank. We paid off our avalon in like 2005, but never contacted them to get the lien removed/title, and I need to do that now to register it in WA (but tracking it down from so long ago is taking the bank time).

Also compare the value of your car, to the deductable you have on your insurance. A 2011 car is probably worth a decent amount still, but you can have 2500$ deductables on your insurance, which means if your car isn't totally destroyed you might not actually get much (not tomention rates going up etc).

Sometimes it's best just to get the minimum insurance for your state (and not even uninsured drivers coverage). If your car is totalled and you can replace it for 5k or less at this point.

Difference can be pretty significant. My BMW for instance was about 80$ a month, but the new car I got (2005 Saturn), is 34$ a month.

Value of the Saturn is about 3-4k....so even if it got totaled it makes more sense to replace it vs filing an insurance claim. Same is true of my Avalon (3.5k or so value).

Congrats on not having anymore payments!!!
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