Making an overnight payoff on your Capital One Auto Finance loan is a quick and easy process that can be completed in just a few steps. You can see below what you need to know to get started:
What is an overnight payoff?
An overnight payoff refers to the method of paying off your auto loan balance in full within a single business day. This can be a useful option if you are selling your vehicle and wish to close out your loan as quickly as possible.
When is overnight payoff necessary?
If you are selling your vehicle and the buyer is financing the purchase through another lender, you will required the Capital One Auto Finance overnight payoff address before the new loan can be finalized. This is because the new lender will need to register the vehicle title with their name as the lienholder.
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What are the benefits of overnight payoff?
In addition to closing your loan quickly, there are several other benefits to making an overnight payoff. These include:
- Saving money on interest: By paying off your loan early, you can avoid paying additional interest charges.
- Improving your credit score: Paying off your loan in full can help to improve your credit score.
- Relieving yourself of debt: Paying off your loan in full can provide you with peace of mind and relieve you of the burden of monthly payments.
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How to make an overnight payoff?
There are two ways to make an overnight payoff on your Capital One Auto Finance loan:
- By mail: Send a cashier’s check or money order to the following address:
Capital One Auto Finance
2525 Corporate Place
Second Floor, Suite 250
Monterey Park CA 91754
- By phone: Call Capital One Auto Finance customer service at CAR-LOAN (1-800-946-0332) to make an overnight payoff over the phone.
What information do I need to make an overnight payoff?
When making an overnight payoff, you will need to provide the following information:
- Your Capital One Auto Finance account number
- The amount you are paying off
- Your contact information
How long will it take for my overnight payoff to be processed?
Your overnight payoff will be processed within 24 hours of receipt. Once your payment has been processed, Capital One Auto Finance will send you a confirmation letter.
Additional tips for overnight payoff
- Make sure to send your payment by certified mail or overnight delivery.
- Include a copy of your vehicle registration and proof of insurance with your payment.
- Allow for extra time if you are making your payment during a busy time of year, such as the holidays.
By following these steps, you can easily make an overnight payoff on your Capital One Auto Finance loan and enjoy the many benefits that come with it.
Tips for Making an Overnight Payoff
- Plan ahead: Decide on the date you want to make your payoff and give yourself enough time to gather all the necessary information and documentation.
- Gather your information: Collect your Capital One Auto Finance account number, the payoff amount, your contact information, and copies of your vehicle registration and proof of insurance.
- Choose your payment method: Decide whether you will mail your payment or make it over the phone. If mailing, use certified or overnight delivery to ensure timely processing.
- Make sure your payment is accurate: Double-check the payoff amount and your account information to avoid any delays or errors.
- Communicate with Capital One Auto Finance: Keep Capital One Auto Finance informed of your payoff plans and let them know if you have any questions or concerns.
Additional Considerations
- Interest calculations: If you make an overnight payoff before your scheduled payment date, you may be eligible for a refund of any prepaid interest.
- Prepayment penalty: Some lenders may take charge for prepayment penalty if you pay off your loan early. Check your loan agreement to see if this applies to you.
- Tax implications: If you make a significant profit from selling your vehicle, you may be responsible for paying taxes on the gain. You can consult with a tax advisor for more guidance.
Making an overnight payoff can be a financially beneficial and stress-free way to close out your Capital One Auto Finance loan. By following these tips and planning carefully, you can ensure a smooth and successful payoff process.
Conclusion
You can see this Capital One Auto Finance overnight payoff address is 2525 Corporate Place Second Floor, Suite 250, ​Monterey Park CA 91754. You can also make an overnight payoff over the phone by calling CAR-LOAN (1-800-946-0332).
To make an overnight payoff, you will need to provide your Capital One Auto Finance account number, the payoff amount, and your contact information. You may also be asked to provide copies of your vehicle registration and proof of insurance.
Your overnight payoff will be processed within 24 hours of receipt. Once your payment has been processed, Capital One Auto Finance will send you a confirmation letter and release the lien on your vehicle title.
Making an overnight payoff can be a quick and easy way to close out your Capital One Auto Finance loan. By following these steps, you can ensure that your payoff is processed smoothly and efficiently.