You will be responsible to ensure your vehicle is properly titled listing State Farm Federal Credit Union (SFFCU) as the lienholder. Once your loan is closed we will send you a title & insurance letter outlining these requirements.
|Purchasing any new or used vehicle from a dealership||Dealers are required to record State Farm Federal Credit Union as the lienholder on the title. Please provide the dealer with the lien information provided here.|
Purchasing a vehicle from a private party
Refinancing a vehicle
Financing an auto/truck for which you have clear title
You will be responsible for having State Farm Federal Credit Union added as a lienholder to your title as outlined here.
Each state has specific titling requirements. If refinancing, you should receive a released or clear title from the previous lender after the payoff has been processed. If you need assistance please contact your state titling agency for a complete list of all documents and fees needed to title vehicles in your state.
Note: The vehicle must be titled in at least either the borrower or co-borrower’s name. No individuals may be listed on the title unless they have signed the security agreement. If SFFCU receives a title that includes additional names, we will require a new security agreement be signed by all parties listed on the title. If your loan is in a business name, both your name and the business name will be required to be listed on the title.
|Non-Titled Vehicles||Certain vehicles require Uniform Commercial Code (UCC) filings to ensure SFFCU’s interest as lienholder. Contact your state agency for information.|
Inform your insurance agent/company to list State Farm Federal Credit Union as lienholder/loss payee as follows:
State Farm Federal Credit Union
PO Box 853944
Richardson, TX 75085-3944
Insure your vehicle with both comprehensive and collision coverage with a deductible not to exceed $1,000.
If you have questions, email or call 888-521-5209, Option 2.