Getting your title once you pay off your loan can actually take a long time. Try to avoid putting yourself in a situation where you need it fast (like selling the car). Some states have the lien holder (the company that you made loan payments to) physically hold the title. read more
Let’s say you have $3,000 left on your car loan, and you pay it off in one shot with a windfall (very possible, as the average tax refund this year is very close to that number). Then you invested the $471 every month, like the example above that gives you $77,000 after 10 years. read more
Neil Richardson, licensed insurance agent and consumer adviser at The Zebra, explained what to do with your car insurance once you paid off a car loan: Notify your car insurance company when you’ve paid off your loan so that you can remove the lien holder from your policy. read more