Word to the Wise About Your (Vehicle) Documents
Valuable tip: DO NOT store valuable paperwork in the glove compartment or anywhere else in your vehicle. I have seen far too many people keep their installment sales agreement, warranty documents, vehicle maintenance and repair paperwork, insurance policy, and even payment receipts in their vehicle. If your vehicle is destroyed or damaged you may lose these documents. And if your car is repossessed do not be surprised if these documents mysteriously “disappear”. Not having these documents can pose serious problems to your potential legal claims or defenses.
The only documents you really need in your vehicle are the registration card, insurance card, and your vehicle safety inspection sheet AND some people even take these with them each time they leave the vehicle (apparently to prevent identity theft). Keep all other vehicle documents in a safe location (safe, safe deposit box, file drawer, etc.) and hold onto them until, at a minimum, your vehicle loan is paid in full and/or you obtain an unencumbered (i.e. no lien) vehicle title.