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Payed off PenFed car loan.. When might I get Title.

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mitchblue
Valued Contributor

Payed off PenFed car loan.. When might I get Title.

Typically what am I looking at of how long before I get clean title? Thank you.. I'm selling it which is why I payed off early.

FICO® 8 Scores 821 FICO® 9 Equifax 826 (Updated 02-7-23)
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3 REPLIES 3
Loquat
Moderator Emeritus

Re: Payed off PenFed car loan.. When might I get Title.

In my state we actually hold the title to our vehicles...there’s just a lien attached to the title.  I bought my new car in September and it was financed through PenFed.  I paid it off a couple of months later and I was faxed a copy of my lien release 2 days after payoff and the actually lien release arrived in the snail-mail in about 6 days.  

Message 2 of 4
Miner
Frequent Contributor

Re: Payed off PenFed car loan.. When might I get Title.

From my experience,  the title (pink slip or whatever your state calls it) usually shows up within 30 days.  I would count on it taking the full 30 days because they aren't in a hurry.

 

Think about how long it took you to get your license plates when you bought the car.  Sometimes, they don't show up till after the 30 days is up.  My last plates took 40 days to arrive despite my temporary operating permit being good for only 30 days.

Current FICO8: EQ:782, TU:754, EX:767 | 1x 30 day late 6yrs ago
AAoA: 10 years; AAoOA: 13 months; Credit Length: 21 years
INQ Eq: 3 / Tu: 5 (4 for auto) / Ex: 9 (5 for auto)
Message 3 of 4
mitchblue
Valued Contributor

Re: Payed off PenFed car loan.. When might I get Title.

Okay thanks. I'm not in a huge hurry so I can be a bit patient .. Though I did read somewhere that PenFed could inform the DMV and then I could pick it up straight from there.. Thanks again..

FICO® 8 Scores 821 FICO® 9 Equifax 826 (Updated 02-7-23)
Message 4 of 4
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