This blog is for educational purposes only, not an offer of credit or advertisement for current loan terms. It does not provide legal advice. Refer to our loan web pages or consult professional advisors for specific information.
Congratulations! You're about to become the outright owner of your vehicle – that's a big deal! Here at MIDFLORIDA Credit Union, we understand the importance of this milestone and want to make paying off your loan as smooth and stress-free as possible. This guide will walk you through the entire process.
Getting Your Payoff Numbers:
- Online Convenience: We offer a user-friendly "Loan Payoff Request". By entering the loan account number and last four digits of the borrower’s Social Security number, you’ll receive a real-time payoff quote that includes any accrued interest and is valid for 10 days.
- Speak to a Loan Specialist: Our knowledgeable loan department is just a phone call away! Reach out at (863) 284-5626 or toll-free at (855) 560-562 and a friendly representative will answer any questions and provide your payoff amount.
Making Your Payoff:
We offer several easy and convenient ways for you to settle your loan and make your final payment such as:
- Online Banking
- Pay over the phone
- Mail a Check
- Visit a Branch
Ensuring a Smooth Payoff:
Double-Check the Amount: Before making your payment, verify the accuracy of the payoff quote, which includes any interest accrued up to the requested payoff date. Early Payments Save: Consider making an extra payment if you're nearing your payoff date to reduce the final amount.
About Your Vehicle Title:
Once your loan is paid in full, MIDFLORIDA will electronically release the title lien for your vehicle within ten business days. To retrieve a physical title, you'll need to visit your local Tax Collector's Office or Department of Motor Vehicles (DMV). Please note that each state may require different documentation for title transfers or lien satisfactions, so be sure to check with your local agency. Please reach out at (863) 284-5626 or toll-free at (855) 560-5626 if you have any questions regarding the release of your title lien. We're here to support you every step of the way. Congratulations again on achieving this financial goal!
