Woman smiling while holding onto her car

Ready, Set, Go

Congratulations! You're auto loan is almost paid off… now what?

Paying off your loan is a great feeling, but what comes next? We are here to help you navigate through the next steps of what to expect as you approach the end of your auto loan journey and beyond.

As you continue to make your payments, you’ll see your loan balance decrease until you’ve paid it off. Your last payment may look a little different. It is usually less than your normal amount and sometimes can go beyond the end of your loan. Remember, you can use the value of your vehicle and access cash or trade it in for something new.

Still have more road trips to take? Check out your warranty for coverage. Depending on your specific warranty, you may have coverage that goes beyond the life of your loan.

Have you arrived at your destination and you’re ready to waive that title in the air? What a wonderful feeling! Take it all in and enjoy. As soon as your loan gets paid off, we get right to work in providing you and/or your local DMV offices the information needed to update your vehicle’s title. Since states have different processes, we've provided some frequently asked questions and answers below. Or, schedule an appointment with a Partners representative for assistance.

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The loan balance reflecting on your online or mobile banking is not your current payoff amount. Your payoff amount will include your current principal balance, any late fees, and the interest that has accrued since your last payment. It is the amount needed to satisfy and close your loan.
Since your payoff amount will be specific to a payoff date, we ask that you contact us directly prior to paying off your loan. To retrieve an official loan payoff quote, please call us at 800.948.6677, visit your local branch, or schedule an appointment for more information.
Your vehicle may have great equity and value. This gives you the option to pull out cash and even consolidate other debts you may have. For example, you owe $5,000 on a credit card with an 18% interest rate, your car has $5,000 in equity, and you qualify for a 3.74% auto loan. Moving this debt from another credit card to your auto loan will not only lower your payments but will also save you money in the long run. Just want access to cash with a great rate? That’s an option as well. Contact us to learn your options.
Now that your loan is almost paid off, take advantage of your car’s current value and trade it in or sell it. Compare auto loan rates to get the best deal, find out what you qualify for, and check our weekly payment options. Contact us to discuss your options today!
Warranties are specific to a vehicle and not a loan. This means it will cover your vehicle until you’ve reached a certain mileage or total amount of years covered. Since there are so many warranty options, make sure to take a look at your loan agreement or contract to see which options you selected.
To submit any warranty claims, please contact our MMP Claims Authorization at 800.527.1984. To see if your vehicle qualifies for a new warranty, contact us at 800.948.6677.

To add a warranty to an already existing auto loan, it does have to be paid in full with cash (or debited from your Partners account) and cannot be financed.
Yes! Since we have been listed as your lienholder throughout the life of your loan, you will want to let your insurance company know that you have paid off your loan. They will then remove Partners as a loss payee on your insurance policy. Ask them about any discounts or policy updates now that you own your vehicle out right.
If you have a Florida electronic title (ELT), they will automatically update the lien release information in their system upon receiving notification and do not mail out a paper title. If a paper title is needed, please visit your local Florida DMV office/website to request a paper title be mailed to your residence. Curious about the status of your lien release? Please visit the Florida DMV website to obtain more information. Please allow 1-2 weeks from the date your loan was paid off for Florida DMV to begin processing the update.

If the original title is a physical paper title, it will show a lien release from Partners Federal Credit Union. If for any reason Partners still shows as a lienholder, please visit your local Florida DMV office so they can update the paper title accordingly.
Within 1-2 weeks of your loan being paid off, we send CA DMV a notice of lien release. They will automatically mail the title to the address listed on your Driver’s License. Your updated title will arrive within approximately 4-6 weeks from the day your loan is paid off.

If the original title is a physical paper title, it will show a lien release from Partners Federal Credit Union. If for any reason Partners still shows as a lienholder, please visit your local California DMV office so they can update the paper title accordingly. If the original title is electronic (ELT) and held at the DMV, your title will be mailed to the address listed on your Driver’s License free and clear.
As soon as your loan has been paid off, we will send notification to your local DMV office within 1-2 weeks. Your title will be sent to you by mail or released electronically, depending on the state your vehicle is titled in. Please note that it may take up to 30 days to receive the title from your state. In states where you hold the title, you will be sent a lien release. Since every state varies, we recommend contacting your Department of Motor Vehicles or local titling agency directly for more information.