Next Steps after your Auto Loan is Paid in Full
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Text, US bank

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Congratulations. Paying off an auto loan is a rewarding achievement and can be a positive addition to your long-term financial goals.

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A car drives along a road.

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As you near the end of your auto loan obligation, we want you to be prepared for what happens next.

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The car drives past a timeline consisting of Confirmation, Verify contact into, Cancel autopay, Balance reflection, and Lien release.

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After we receive your final auto loan payment, your payment obligation to U.S. Bank for this loan is complete.

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Text, You no longer need to make your monthly payments to U.S. Bank.

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We'll send you an email to confirm payoff and outline next steps.

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The dashboard of US bank's website.

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Next, we'll need you to verify the address you have on file with us. You can view and update your address at any time by logging in to U.S. Bank mobile or online banking. Just select your profile, and edit as needed.

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The cursor navigates to the top right of the dashboard and clicks on Profile & Settings, then Edit personal details.

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You'll be receiving important documents, including a payoff letter. And we want to ensure they reach you at the right location.

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A mail truck pulls up to a house and a letter flies into the mailbox.

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Any overpayments or refunds due to you will be returned to this address as well.

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The dashboard showing three different loans.

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In most cases, your payoff will be reflected in your online account one business day after we receive your payoff funds.

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The cursor clicks on View Statements at the lower right corner.

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The monthly statement that is generated after payoff will also show the account as closed. And at that time, your account will no longer be viewable online. Keep in mind account closing could take up to 30 days, depending on when your billing cycle falls.

If you're enrolled in autopay for your auto loan through U.S. Bank, we will cancel that service on your behalf. If you are sending funds to U.S. Bank from another financial institution using an automated method such as bill pay, you will need to contact that financial institution to cancel those payments.

We need to release the lien from the state in which it was recorded. We'll handle this process for you and initiate the release of title based off state requirements. Some states hold the title electronically. So we'll work with them to ensure the title is free of a lien. If you're paying off your auto loan before your maturity date, you may receive refunds for any optional products you may have purchased through your dealership, such as gap insurance.

You'll receive a payoff letter that will address additional questions about refunds. Visit us at usbank.com at any time to find answers about your auto loan payoff or related documents. Or call us at 800-872-2657.

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Text, Monday through Friday 7 AM until 8 PM CT, Saturday 7 AM until 4 PM CT.

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It's been a pleasure serving you. And we're here for all your future financial needs. Thank you for being a U.S. Bank customer.

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Text, US bank. Visit u s bank.com. Member FDIC, Copyright 2023 U.S. Bank.