Follow along fair champions of credit, as my tale unfolds.
My 18 year old truck (1997 Ford Ranger) was rear-ended last tuesday, and a price tag of $3600 for repairs certainly exceeds the value, so technically totalled.
If the guy's day (I was hit by a 19 year old in a $40,000 vehicle) pays pirvately it's easier on me. If he runs it through the insurance, it may cost me $250-300 to "buy it back" from the insurance company.
BUT, the trade in on the thing is only $300, so that's a break even point. I lean toward handing them the keys and doing the ride share thing with my SO for a few days. But that may not even be necessary. Read on.
Today I found a unicorn. 2009 Mazda 3, with 16,000 miles on it, for $9000. NO, that is not a typo, there is not a zero missing in the mileage. So of course I had to make my best attempt at jumping on this.
Got the Carfax of course, single owner vehicle with service records. No wrecks, no damage, maintained (read: babied). Ok. So I apply for financing.
Scores about 620-660, no clue which bureau got pulled. But I got approved with the insurance payout ($1250 to 1500) as a down payment, rate of 3.35%, 48 months. Note of $215/month.
I am currently happy because I didn't think I could get a deal like that on any car much less a car like the one I found!
I am now in a race to make sure no one else finds it and buys it before I get that *&^*@D$(%*&%^$ insurance payout money to the dealer. The guy's dad was supposed to have an answer for me today, I bugged him about it this morning, yet still silent. I bugged him again right before starting this thread, FYI.
I am having the dealer re-run the numbers without the downpayment, thinking if I can still get approved, I would have the option of handing over the amount in a lump sum to pay down the principle, or using it to pay 4-5 months of the note while paying off other things and getting some cards aged (AAOA is 1.5 years as of this morning) and getting some inquiries to lessen their impact.
Insurance on the new car would actually be the same as I was paying because I was an idiot when I got the policy back when and didn't shop around. I just grabbed the first thing I could pay for that day and have been paying $127/m liability only on an 18 year old hunk. $125 is the quote via progressive on the new car. Yes, that includes the mandatory coverage for a new vehicle, but with a high deductible.
The book value on the car (Per KBB this morning) is right at $12,000. I am not sure I can get the price to budge at all, but I can handle the proposed payments. 
So questions!
Refi-how many months must one generally pay on a new auto loan and keep it in good standing before a possible refi? I ask because if I don't get the check from the insurance today but am approved anyway, I may take the deal with the 25 dollar a monthish payment change.
Do the credit gurus suggest putting the insurance money in that case (when I get it) on the car loan at 3.35% or two pay off two small loans ($400 and $600) with higher interest rates, but with low monthly payments. ($100 each). Then zero out the Wal-Mart card with what is left.