Q: What is State Farm Federal Credit Union’s (SFFCU’s) lienholder information?
STATE FARM FCU
PO BOX 853944
RICHARDSON, TX 75085-3944
Q: Who can be listed on vehicle loan titles?
Either the primary borrower or co-borrower must be listed on the title. No individuals may be listed on the title unless they have signed the security agreement. If we receive a title that includes additional names we will require non-borrowers to sign a security agreement. Trusts cannot be listed on titles.
Q: Why must an individual who is on the title but not on my loan sign a Security Agreement?
Any individual having an ownership interest in the vehicle must sign our Security Agreement acknowledging the vehicle will be used to secure the loan.
Q: Can a Co-signer be listed on the title?
No. A Co-signer cannot have ownership interest in the vehicle securing the loan.
Q: Can I title the vehicle in my business name only?
No. At least one individual must be listed on the title.
Q: Do we have to send the Credit Union the physical title?
Your state’s titling authority will send paper and electronic titles directly to SFFCU once we are added as the lienholder. For title holding states, the actual title isn’t sent. In these situations, either documentation stating SFFCU is listed as lienholder is provided, or you may be asked to provide a copy of the title showing SFFCU as the lienholder.
Q: How do I add the Credit Union as a lienholder on the title?
Please refer to our Title and Insurance Requirements page and follow the instructions as outlined.
Q: What happens if I don’t add SFFCU as a lienholder?
We will adjust the interest rate to the default rate until we have verification SFFCU has been added as lienholder. Once this is verified, we will revert the rate back to the original vehicle loan rate.
Q: How long will it take to add SFFCU as a lienholder to my title?
Each state is different, please contact your state titling office for instructions. Please complete this as soon as possible, as the timeframe varies by state.
Q: Does my state use electronic titles? If so what is the Electronic Lien and Title ID (ELT ID).
State ELT IDs and information may be found here.
Q: Why am I responsible for adding the Credit Union as a lienholder on the title?
We require members to handle the titling process in order to provide the benefits of reduced loan rates and no loan fees.
Q: What is the difference in the titling process between purchasing a vehicle from a dealership versus purchasing a vehicle through a private seller?
Typically, dealers are required to record SFFCU as lienholder on the vehicle being purchased. For private party purchases it is the responsibility of the member (or buyer) to contact their state titling agency for more information on all documents and fees necessary to title their vehicle.
Please refer to our Title and Insurance Requirements page for detailed information.
Q: When will I receive my vehicle title once it is paid off?
We process all titles within 2 business days of being paid in full. If your title is paid in full with a personal check, it will be released after 10 business days. If your title is electronic, it may take longer as it is your state’s responsibility to release your title after receiving notification from SFFCU. The timing for receiving titles varies by state.
Q: I’m trading a vehicle that I have financed with SFFCU, how should the payoff be received?
If you plan to finance your new vehicle with SFFCU , we will pay off the loan for the vehicle you are trading and send the remaining balance to the dealer. We will release the lien of the traded vehicle and send separately in most cases to the dealer.
If you do not plan to finance your new vehicle will SFFCU, we will pay off the loan for the vehicle you are trading. We will then release the lien of the traded vehicle and send separately in most cases to the dealer.
Q: What if my vehicle does not require or issue a title?
Specialty type vehicles (i.e., ATVs, UTVs, snowmobiles, jet skis, certain boats, boat trailers & boat motors, etc.) that do not issue titles will require a Uniform Commercial Code (UCC) filing to secure our interest as lienholder. Please visit your states website or titling agency for complete instructions.