It appears it is your insurance payment that you need to make. I would suggest continuing to pay on your insurance so that it does not lapse. Also with most insurance companies if you are replacing a vehicle, such as the one you are sending to salvage, your current insurance should cover the new vehicle for a few days (depending on state and insurance company regulations). So paying on your insurance should make it easier when purchasing your new vehicle.

Verify that the above advice is true for your insurance company. If you need new insurance once you have your new vehicle please think of us first.