Release of lien / car insurance
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
| Did paying off your car loan impact your car insurance rate for the better? |
Anonymous
| No impact at all. |
Anonymous
| No change whatsoever. |
Anonymous
| Paying it off did not but buying the car outright the next time did. |
Anonymous
| The government still thinks my lender has a lien even though I paid it off years ago. |
Anonymous
How do you know? Is it listed on the rate document? |
Anonymous
| No |
Anonymous
|
Why would having a loan impact car insurance?
|
Anonymous
|
No impact on car insurance, but let insurance company know that your car is paid for. They will remove the L
lien holder from your policy. In the event your car is totaled, the $$ would come to you vs the lender. |