California Coast Credit Union Auto Loan Payoff Address

When you have an auto loan with California Coast Credit Union (CCCU) and wish to pay it off, it is important to send your final payment to the correct address to ensure that your loan is properly closed and your payment is accurately processed. This article provides detailed instructions on where to send your payoff payment, including important details and considerations to keep in mind during the payoff process. It covers the various methods available for making the payoff, including mail and electronic payments, and highlights the steps to confirm that your loan has been fully satisfied.

1. Understanding Your Payoff Amount

Before sending a payoff payment, you need to know the exact amount required to fully satisfy your loan. This is called the payoff amount. It can differ from your current balance due to accrued interest or any additional fees. To get this amount:

• Contact CCCU: Reach out to California Coast Credit Union either via phone or their online messaging system to request a payoff statement. This statement will include the exact amount required to pay off the loan, which might vary depending on the date of payment.
• Review Your Loan Agreement: Check your loan agreement for any terms related to early payoff or prepayment penalties, as these might affect the total amount you need to pay.

2. Payoff Payment Methods

California Coast Credit Union typically offers several methods for paying off your auto loan:

• Mail: You can send a check or money order for the payoff amount to the specified address. Ensure your payment is accompanied by your loan account number and any other required documentation.
• Electronic Payment: CCCU may offer online payment options through their online banking platform. Verify that electronic payments are accepted for loan payoffs and follow the instructions provided by CCCU.
• Wire Transfer: For faster processing, you may opt to wire the payoff amount. Obtain the necessary wiring instructions from CCCU, and ensure you include all required details to avoid delays.

3. Sending Your Payoff Payment

To send your payoff payment, use the following address:

California Coast Credit Union
Attn: Loan Payoff Department
P.O. Box 50036
San Diego, CA 92150

Be sure to:

• Include Your Loan Account Number: Clearly write your loan account number on the payment to ensure it is credited to the correct account.
• Add Your Contact Information: Include your contact details in case there are any questions or issues regarding your payment.
• Send a Copy of Your Payoff Statement: If applicable, include a copy of your payoff statement to expedite processing.

4. Confirming the Payoff

Once your payment is sent, it’s crucial to confirm that your loan has been fully paid off:

• Check Your Account: Log into your CCCU online account or contact customer service to verify that your loan balance has been updated and that the payoff has been processed.
• Obtain a Confirmation Letter: Request a written confirmation from CCCU that your loan has been paid in full. This letter is important for your records and may be needed if you ever have any disputes regarding the payoff.
• Monitor Your Credit Report: Review your credit report to ensure that the loan is marked as "paid in full" and that there are no remaining balances.

5. Additional Considerations

• Timing: Make sure your payment is sent in advance of the due date to avoid any late fees or interest charges. Payments can take several days to process, especially if sent by mail.
• Fees: Check with CCCU for any potential fees associated with the payoff, such as processing fees or prepayment penalties, and factor these into your final payment.
• Loan Insurance: If your auto loan included insurance, ensure that any insurance obligations are addressed and canceled appropriately.

By following these guidelines and ensuring that all required steps are completed, you can efficiently and effectively pay off your auto loan with California Coast Credit Union. Properly managing the payoff process will help you close your loan account smoothly and avoid any potential issues.