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Vehicle Loans Help Center

General FAQ

Simple interest is a way of allocating monthly loan payments between the principal and interest. The amount of your loan payment that is allocated to interest is based on the unpaid portion of the principal balance, the interest rate on your loan, and the number of days since your last payment. For example, if we receive a payment 20 days since your last payment, you will then be charged 20 days of interest on the unpaid principal balance of your loan. The rest of your payment is credited to the principal which reduces the unpaid principal balance on your loan.

Vehicle loans originated with State Farm Bank® are simple interest loans. Simple interest calculations are used for installment loans:
  • The remaining principle is multiplied by the interest rate to calculate the total interest for one year.
  • The annual interest is divided by the number of the days in the year to calculate the interest per day.
  • The interest per day is multiplied by the number of days between payments to calculate the amount due each payment.
Example:
  • A $20,000 loan at 8.49% APR = $1698.00 (annual interest)
  • $1698.00 / 365 = $4.652 (daily interest)
  • $4.652 x 30 = $139.56 (monthly interest)
  • However, the first month the loan is due, $4.652 would be multiplied by the number of days from the date the funds are disbursed to the date the payment is processed.

In most states, the servicer holds the title to a vehicle. However, in title-holding states you hold the title to your vehicle with our lien on it. A few states have an electronic title that the state retains electronically.

If the servicer holds the title or the creditor has a lien on the title, it will be released to you on the 10th business day after the payoff is received, processed, and all other conditions are satisfied. Please allow for normal mail time.

Note: If you live in a state that retains titles electronically, time frames may vary.

A lien release removes a lender as holder of the security interest in a vehicle on a title, generally after the loan is paid off.

Learn about Payoff Protector here.1

1 Payoff Protector is not an insurance product. Subject to the terms, conditions, and restrictions of the Payoff Protector provision in your State Farm Bank originated Promissory Note and Security Agreement. Your loan must be in good standing in order for Payoff Protector to apply. If your vehicle is determined to be a total loss before the loan is paid off, we will cancel the difference between the insurance payout and the unpaid principal balance due on the loan. Please contact 877-734-2265 for additional details. If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Payoff Protector does not waive past due payment amounts; interest, fees and charges incurred prior to the total loss; or any refundable portion of the credit insurance premium. Certain exclusions apply to Payoff Protector, including but not limited to, if your account is 30 days or more past due, pre-existing vehicle damage, or other amounts excluded from your vehicle insurance coverage.

Yes. We accept customer initiated title changes. However, research fees and state title and registration fees may apply. If you wish to make changes to your title, contact us at 877-734-2265. Callers who are hearing or speech impaired should dial 711 or use a preferred Telecommunications Relay Service.

You may take your vehicle out of the country if you meet certain requirements and obtain permission from Loan Servicing.

For more information or to request to take your vehicle out of the country, contact us at 877-734-2265.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

For your convenience, we have created an optional Consumer Report Dispute Form that you may use as your written statement. Please be sure to include all pertinent information related to your dispute on this form.

Important Note: We may be unable to investigate your dispute if sufficient information is not received in order to identify your account or the information being disputed.

To avoid experiencing a delay, please mail your form to this address:

[List the new loan servicing company here]
Attn: Credit Reporting
PO Box 2313
Bloomington, IL 61702

General payment information

The following payment methods are available to make a vehicle loan payment

Pay online: If you have added your vehicle loan account for online banking access from your My Accounts page, you can conveniently make a payment through online bill pay. Just click on the 'Make Payment' button from your My Accounts page.

State Farm mobile app: Make a payment by downloading the State Farm® Mobile App , and logging into your State Farm account

Pay by phone: You can call us at 877-734-2265 and speak with one of our customer service representatives or use our Interactive Voice Response System by simply saying 'Make a Payment' when asked why you are calling.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Pay by mail: You can mail your payment to us using one of the following addresses:

Vehicle Loan Payments/Payoffs - Regular Mail
[List the new loan servicing company here]
P.O. Box 3299
Milwaukee, WI 53201-3299

Vehicle Loan Payments/Payoffs - Overnight Mail
[List the new loan servicing company here]
ATTN: Loan Servicing
2535 Daniels Street
Madison, WI 53718




Additional payment options:

Western Union: Call 877-734-2265 for Western Union instructions. Western Union service fees may apply - this is the only payment option where a credit card can be used. Western Union Payments are not guaranteed funds except for Western Union Quick Collect payments.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

MoneyGram: Call 877-734-2265 for MoneyGram instructions. MoneyGram service fees may apply.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Wire transfer: Call 877-734-2265 for wire instructions. Fees may be assessed by originating financial institution.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Note: A charge of $31 will be assessed for each wire payment that is returned; this charge will be deducted from the wire amount.

If you already have an account available for online access from your State Farm My Accounts page, your vehicle loan has been automatically added for you.

To create a new online account at statefarm.com®, complete these steps:
  1. Access statefarm.com®
  2. Click Log In
  3. Click Create an account
If your vehicle loan account is not available to view online from your My Accounts page and you have created an online account at statefarm.com, complete these steps for online access:
  1. Access statefarm.com®
  2. Log In to your online account using your User ID and Password
  3. On your My Accounts page select "Don't see an insurance or bank account. You may need to add it to My Accounts."
  4. Follow the instructions and complete the required fields to enroll your account in online banking

You will receive a confirmation email once the account is registered. It may take an hour after registration before the account is viewable online.

Call us: You can have a form mailed to you by calling us at 877-734-2265.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Enroll by form: Enroll your vehicle loan in automatic payments by completing this Automatic Monthly Payment Authorization Form [PDF] along with providing a voided check or savings deposit slip and mail to the address included in the form instructions. You can find information about your existing loan on your promissory note and security agreement.

You can also fax these documents to (800) 420-8124. Please include a cover page and send to the attention of “Loan Servicing.”

Enrolled by form: If you would like to cancel your automatic payments, we must receive notification of termination at least ten (10) business days before your payment due date. You may notify us by calling us at 877-734-2265 and speak with one of our customer service representatives, or send us written notification.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Fax:
(800) 420-8124
Attn: Loan Servicing

Mail:
[List the new loan servicing company here]
Attn: Loan Servicing
P.O. Box 5961
Madison, WI 53705-0961

If you would like to make a change to your automatic payment account, you will need to complete a new Automatic Monthly Payment Authorization Form [PDF] along with providing a voided check or savings deposit slip and mail to the address included in the form instructions. You can find information about your existing loan on your promissory note and security agreement. You can also fax these documents to (800) 420-8124. Please include a cover page and send to the attention of “Loan Servicing”.

Vehicle loans originated with State Farm Bank allow you to make prepayments towards your principal balance on your vehicle loan any time before maturity. However, if the loan is prepaid in full within the first 18 months of the date of the note, you will be required to pay a pre-payment penalty. Please refer to your promissory note for the amount of the pre-payment penalty and when it would apply.

If you would like to make a prepayment of principal without affecting your next scheduled payment due, make a principal payment with one of the following options:

Pay online: You can conveniently make a principal payment through online bill pay. Just click on the 'Make Payment' button from your My Accounts page.

Pay by phone: You can call us at 877-734-2265 and speak with one of our customer service representatives. Just tell them you would like to make a principal payment.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Pay by mail: Mail a check or money order, along with your account number and specific instructions to:
[List the new loan servicing company here]
Attn: Loan Servicing
P.O. Box 5961
Madison, WI 53705-0961

Note: Write your loan account number and ‘Principal Only’ on the memo line.

Prepayments of principal and overpayments will be applied first to any outstanding late fees, then to principal of the next payment installment and will reduce or satisfy the next scheduled payment due. If your monthly payment is being made via recurring ACH, this may prevent or reduce the amount of your next automatic payment.

If the bill is due, the payment will be applied as follows:

  1. Accrued interest since last payment received
  2. Principal
  3. Outstanding late fees due

If no bill is due, the payment will be applied as follows:

  1. Outstanding late fees due
  2. Accrued interest since last payment received
  3. Principal of future bille(s) due

Additional principal reduction is applied towards the next bill due (reduces the principal balance but will also reduce or satisfy the next bill(s) due).

Note: Interest accrues on any unpaid principal balance of the loan.

Vehicle loans originated with State Farm Bank cannot guarantee that postdated checks will be honored for the date indicated. All checks received are processed the same day they are received. A $25 Non-Sufficient Funds (NSF) fee will be applied to the loan for all returned payment items.

Your account balance is the amount still owed of the original funds borrowed. Your payoff amount includes the principal account balance, accrued interest, and any fees (if applicable).

Whether it's your final loan payment or you are wanting to payoff your loan balance prior to maturity, follow these steps:

  1. Obtain your payoff amount

    You can get your payoff amount by logging into your statefarm.com account or call 877-734-2265 and speak with one of our customer service representatives.

    *If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

    Note: Your account balance is the amount still owed of the original funds borrowed. Your payoff amount includes the principal account balance, accrued interest, and any fees (if applicable). You must pay your full payoff amount to completely satisfy your loan.

  2. Make your payment by the date your payoff amount is good through
  3. Your title or lien release will be mailed or released electronically on the 10th business day from the date we receive the payoff payment. It takes 10 business days to process the payment, satisfy the lien, and release the title. Your title will be mailed to the address on file.
    If you need an expedited title release, please see instructions below.

    Note: If you live in a state which maintains titles electronically the title will be mailed to the address the bank has on file. Exception: California and Texas mails titles to the Registered Owners address. Confirm the correct mailing address with your state's DMV.

If the title should be mailed to someone other than the accountholder on the loan, we must receive written instructions signed by the accountholder at the time the payoff payment is received. Written instructions can be faxed or mailed to:

Fax:
(800) 420-8124
Attn: Loan Servicing

Mail:
[List the new loan servicing company here]
Attn: Loan Servicing
PO Box 5961
Madison, WI 53705-5961

Expedited title release:
If you would like to expedite your title being released, please follow the instructions below.

  1. Obtain your payoff amount

    You can get your payoff amount by logging into your statefarm.com account or call 877-734-2265 and speak with one of our customer service representatives.

    *If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

    Note: Your account balance is the amount still owed of the original funds borrowed. Your payoff amount includes the principal account balance, accrued interest, and any fees (if applicable). You must pay your full payoff amount to completely satisfy your loan.

  2. Make your payoff payment in the form of Guaranteed Funds
    Types of Guaranteed Funds
    • Official Bank Check
      • Cashier's check
      • Certified check
      • Teller Check
      • Treasurer's Check
    • Money Order drawn from a financial institution, post office, Travelers Express
    • Wire Transfer
    • Loan Proceeds Check
    • Insurance Check
    • Western Union Quick Collect

    Note: Checks sent via overnight mail should be mailed to:
    [List the new loan servicing company here]
    ATTN: Loan Servicing
    2535 Daniels Street
    Madison, WI 53718

  3. Your title or lien release will be processed in two business days if we receive the payoff payment in the form of guaranteed funds. Your title will be mailed to the address on file.

  4. Note: If you live in a state which maintains titles electronically the title will be mailed to the address the bank has on file. Exception: California and Texas mails titles to the Registered Owners address. Confirm the correct mailing address with your state's DMV.

Overnight mailing of title:
Loan Servicing will overnight mail your title to you upon its release after your payoff payment has been processed. You will need to include an extra $10.00 with your payoff payment. Please contact us at 877-734-2265 and speak with one of our customer service representatives for specific instructions if you need your titled returned to you by overnight mail.
Note: This option is not available in states which hold the title electronically.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Phone: You can call us at 877-734-2265 and speak with one of our customer service representatives, or access our Interactive Voice Response System. Representatives are available to assist you 6 AM - 11 PM Central Time, Monday through Friday; 8 AM - 8 PM Central Time, Saturday and Holidays; and 8 AM - 6 PM Central Time on Sunday.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Mail: Use one of the following addresses when contacting us by mail:

Vehicle Loan Payments/Payoffs - Regular Mail
Regular vehicle loan payments need to be mailed to:
[List the new loan servicing company here]
P.O. Box 3299
Milwaukee, WI 53201-3299

Special Payments and Correspondence – Regular Mail
Principal only payments, payments with special instructions, or general correspondence need to be mailed to:
[List the new loan servicing company here]
ATTN: Loan Servicing
P.O. Box 5961
Madison, WI 53705-0961

Vehicle Loan- Overnight Mail
Payments, loan payoffs, and titles sent via overnight mail need to be mailed to:
[List the new loan servicing company here]
ATTN: Loan Servicing
2535 Daniels Street
Madison, WI 53718

Disputing Information Reported to Credit Bureaus
We furnish information about your account to credit bureaus. You have the right to dispute the accuracy of the information reported by writing to us:
[List the new loan servicing company here]
ATTN: Credit Reporting
P.O. Box 2313
Bloomington, IL 61702-2313

For your convenience, we have created an optional Consumer Report Dispute Form that you may use as your written statement. Please be sure to include all pertinent information related to your dispute on this form.

Fax: Correspondence may be faxed to (800) 420-8124. Please include a cover page with your loan account number and send to the attention of “Loan Servicing”.

You can check the status of a payment online by checking your account history after logging into your statefarm.com account or by calling us at 877-734-2265 and speaking with one of our customer service representatives.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

The grace period for vehicle loans is 10 calendar days. If a payment is not received by the 10th calendar day of the grace period, interest will continue to accrue and a late fee will be assessed.

You can find information about late fees on:

  • Your promissory note
  • Your vehicle loan coupon book
  • Your online account at statefarm.com®

Note: Payments submitted or received prior to 7:00 p.m. CT will be posted to your loan account on the day received. Payments submitted or received after 7:00 p.m. CT, or on weekends, or banking holidays will be posted to your loan account on the next business day.

For additional assistance, call loan services at 877-734-2265.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Only payments scheduled via online bill pay, the State Farm Mobile App, or by phone can be cancelled. Payments scheduled to be processed must be cancelled by 7:00 p.m. CT the day of the scheduled payment date. You can cancel a payment by:

Online: Log into your statefarm.com account and click on the 'Make Payment' button from your My Accounts page.

State Farm mobile app: Downloading the State Farm mobile app , and logging into your State Farm account.

Phone: You can call us at 877-734-2265 and speaking with one of our customer service representatives.

*If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.

Note: If you need to edit your scheduled payment, you will need to cancel your payment and schedule a new one.

Your loan originated by State Farm Bank is owned by one of the following State Farm companies: EMVLP, LLC, EMVLP II, LLC, or EMVLP II LLC d/b/a EMVLP II PLLC. For questions regarding your loan, please contact Loan Servicing at 877-734-2265. If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services.