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I paid off my car loan, now what?
I just made the last payment on my car loan. Now what do I do?
Rob Shapiro · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
That’s great to hear! Now that you’ve paid off your car loan, you own your car outright. Here are a few things to know:
- The lienholder can be removed from your car’s title.
- If you paid it off early, make sure you don’t owe any prepayment penalties.
- You can upgrade to a new car with a new car loan, if you’d like.
Jerry collects quotes from more than 50 top insurance companies, like Nationwide and Progressive, so you can avoid the tedious work. Simply select your new coverage and Jerry will take care of the rest.
Jerry users save an average of $887 a year.
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- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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