Titles

Title Processing and Services

If your loan is financed with City CU and you’re about to pay it off, recently paid it off or want to sell to a private buyer, this will help guide you through the title process.

If you’re paying off your loan, make sure your final payment is for the pay off amount, rather than the loan balance. The pay off amount includes interest and typically is slightly more than the loan balance. You can find the pay off amount in online banking or our mobile app.

I just purchased or refinanced my car through City CU.

Here’s how your title work is handled:

Dealership Purchase: the dealer will submit the title paperwork on your behalf to the DMV, with City CU listed as the first lien holder.
Private Seller: City CU will process your title work. We’ll notify you if we need your assistance to complete the title work.
Refinanced from Another Financial Institution: they’ll mail the title to City CU.

In all scenarios, City CU is the lienholder and retains possession of the title until you pay off your vehicle.

How long does it take to get my title/lien release?

Paper titles – if we have a physical copy of your title, we will release the title 10 business days after your loan is paid off, then we’ll mail your title and lien release to the address we have on file for you. (Note: you’ll want to make sure we have your current mailing address. Log in to online banking or contact us to verify your address.)

Electronic titles – we will release the title 10 business days after your loan is paid. The state then prints your title and mails it to the address we have on file for you. You’ll receive your paper title from the State (e.g., Texas Department of Transportation). (Note: you’ll want to make sure we have your current mailing address. Log in to online banking or contact us to verify your address.)

After the 10-business day period, can I pick up my title at a City CU branch?

No. Paper titles will be mailed from City CU to the address we have on file. Electronic titles will be printed and mailed from the State (e.g., Texas Department of Transportation). (Note: you’ll want to make sure we have your current mailing address. Log in to online banking or contact us to verify your address.)

Can you expedite delivery of my title (send overnight via FedEx, UPS, etc.)?

No. We mail paper titles via U.S.P.S. only.

What is an electronic title?

Some state DMVs, lenders and dealers exchange vehicle and title information electronically, rather than by paper. Once the loan is paid off, the lienholder sends an electronic message to release the title and the State prints a paper title and mails to the address we have on file for you.

I'm preparing to sell my vehicle privately. How should I handle the sale?

We recommend using a Bill of Sale. The Bill of Sale needs to be signed by both parties in front of a notary. A Bill of Sale can be considered a combination of an invoice and a receipt and acts as a record of the transaction. Keep a copy for your records; the buyer uses their copy to transfer the title to their name at the State title office.

Can I request that the title/lien release be mailed to the buyer?

Unless we received authorization and payment from a third party, the title/lien release must be mailed to the registered owner we have on file.

What is a lien release?

This document states the loan is paid in full and certifies no outstanding secured obligation by City CU.

My vehicle has been involved in a total loss. What do I need to do now?

Notify your insurance company.
Contact City CU to give us authorization to release payoff and titling information to your insurance company.
Your insurance company will need to send a Letter of Guarantee to City CU, which we sign and send back to them with title documentation.
After your insurance company receives the signed Letter of Guarantee from us, they will send us a check for the settlement amount for your total loss.

Note: City CU has the right of first payment from the insurance company before any payment is made to you. If you owe more than your vehicle’s actual cash value (the amount the insurance company pays for your loss), be sure to remain current on your payments until the loan is paid off.