Auto loans FAQ

You have a couple ways to apply.

You can apply online.Apply Online It’s simple to complete your application on usaa.com or the USAA Mobile App. 

You can also apply by calling us at 800-531-USAA (8722).  

We recommend you apply before you shop. This can give you buying power and help you stick to your budget.

You’ll need the following when you apply for an auto loan:

• Income details
• Desired loan amount
• Vehicle age
• Trade-in details

You have 45 days to finalize your loan and buy your car.

Go to usaa.com or the USAA Mobile App. After you log on, you’ll find your loan application in the “Banking” section that lists all your accounts.

We accept electronic signatures.

To find and sign your documents, log on to usaa.com or the USAA Mobile App. Then select your loan application from your list of accounts. From there, you can sign your loan documents.

You can request changes online if you’re still in your offer period and we haven’t funded the loan.

Log on to usaa.com or the USAA Mobile App. Then select your loan application from your list of accounts. From there, you can request changes.

LTV is a ratio that compares your loan amount to USAA's determined value of the vehicle.

For example, if you buy a $30,000 car and borrow $27,000, your LTV is 90%.

Yes. You can finance an auto purchase from a private seller. You'll be responsible for paying the taxes and fees to transfer the title.

You can finish your loan on usaa.com or the USAA Mobile App. Or you can call us at 800-531-USAA (8722).

We’ll need the Vehicle Identification Number, or VIN, odometer reading, seller details and final loan amount.

You’ll also need to choose how you plan to repay your loan. If you select automatic payments from another bank, we’ll need the account and routing numbers.

Then you can sign the loan documents electronically.

In some states, we’ll need notarized documents for private-party purchases and refinance loans.

After we receive all your required loan documents to finalize the loan, we'll mail you a check that’s made out to the seller. We’ll also include instructions on how to complete the title transfer.

No. We can help you with either a motorcycle loanVisit Motorcycle page or an RV loan.Visit RV page

No. We don't offer business loans or auto loans for commercial vehicles. Here are some examples:

• Semi-truck
• Box truck
• Dump truck
• Construction equipment
• Bus
• Food truck

No. You can use any dealer.

If you finance a car from an online dealer, use caution to help protect yourself from fraud:

• Watch out for too-good-to-be-true prices or pressure to act fast. It may mean the vehicle is a fake.
• Verify the VIN and see the car in person or through an inspection service.
• Avoid sending money upfront to a seller you haven’t verified.

It depends on your lease contract. But often, you can buy your leased vehicle with a USAA Auto Loan. Call us to apply at 800-531-USAA (8722).

No. You can’t use a USAA Bank Auto Loan to finance GAP or other credit-related products.

But you may be able to finance other select add-on products. These can include things like extended warranties and vehicle protection plans.

Yes. You can buy a new vehicle overseas as long as it’s never been titled and meets U.S. specifications. Some examples of this include having a left-side driver’s seat and being able to pass U.S. emissions and safety tests. 

You must be a USAA member and live in the U.S. or on a U.S. military base.

Subject to approval.

Every situation is different. Whether you’re trying to save money on your car payment or lower your rate, you may need to crunch some numbers.

To help you make the best decision, read our auto refinancing guide.Visit article for auto refinancing

We'll need your 10-day payoff amount and details about your employer, income and housing.

The 10-day payoff is usually different from your current loan balance. It's the total amount needed to pay off a loan within 10 days. That amount includes the principal, interest, fees and any other charges to settle the loan.

You'll need to request the 10-day payoff amount from your lender. If you're refinancing a USAA Bank Auto Loan, we should be able to add your payoff amount to your application automatically.

If you owe more on your car than it's worth, your loan is upside down.Visit article for upside down auto loan

You might be able to roll that negative equity into your new loan. We'll determine how much you can borrow based on your credit, income and our value of the vehicle.

Yes. You may be able to refinance if your USAA Bank Auto Loan is in good standing. To find out if you’re eligible, start a refinance application.Apply for auto refinance loan

No. While we don’t charge application fees, you may have to pay state and local fees when your loan gets funded.

The application takes a few minutes. After you're approved and we receive your signed documents, it’ll take us 2 to 3 business days to mail a check to your lender. Once your lender receives the check, they’ll need to process it.

It’s a signed letter that some banks require for us to pay off an existing loan. We may ask you to sign a payoff authorization after you've signed your loan documents.

No. GAP coverage ends when you refinance. USAA Bank doesn't offer GAP coverage.

You can ask your current lender for a refund of any unused portion of your premium.

Check with your local DMV to review the taxes, fees and paperwork.

Then take the title to the DMV and pay the fees and taxes.

Learn more about managing your car title.Visit article for Managing your Car Title

Lien codes vary by state. Learn more about managing your car title.Visit article for Managing your Car Title

There are 3 ways you can send a title to us.

• Mail: USAA Federal Savings Bank, P.O. Box 318, Wilmington, OH 45177
• Fax: 937-481-5143
• Email:usaamail@vitu.com

In some cases, we may require the original copy of the title.

We'll release your title after we receive and process your final payment. The time we take to release it depends on the payoff method, state law requirements and state motor vehicle department procedures.

The processing time depends on if you have a paper, electronic or customer-holding paper title. If you're not sure which category applies to you, contact your state titling agency.

Yes. You can:

• Add an existing borrower.
• Change a borrower’s name.
• Remove a name.

You must have at least 1 borrower on the title while the loan is active. We may limit name changes if your loan isn’t in good standing.

To make changes, call us at 800-531-USAA (8722)

Contact your new state's titling agency to ask what documents you need.

If they need the original title, ask your new state’s titling agency to email a request for the title to us at usaamail@vitu.com.

They can also fax a request to 937-481-5143. After we get the fax, we’ll release your title to the titling agency for processing.

If they just need a copy of the title, call one of our title specialists at 800-531-USAA (8722).

Yes. But you’ll need written permission from USAA Bank to meet U.S. Customs and Border Protection requirements.

To request a letter of permission to ship overseas, call us at 800-531-USAA (8722).

It depends on when and how you send in your payment. Usually, payments received during normal business hours get credited to your account the day we receive them.

If you make a payment on a weekend, holiday or after 9 p.m. CT, it may not appear until the next business day.

External bill payments may take multiple days depending on how your bank processes and sends them.

If your payment has missing information, it may take longer for your payment to show up. But we’ll still apply your payment based on the date we received it.

Make sure to include your loan account number and name with your payment to avoid delays.

Our loans are simple interest loans that accrue interest daily.

To figure out your interest, multiply your principal balance by your interest rate and divide by 365 days. Interest is charged on all 366 days during a leap year.

For example, if your principal balance is $10,000 and your interest rate is 8%, you'd multiply $10,000 by 0.08 to get $800. Then divide $800 by 365 days to get $2.19 in daily interest.

When you make payments on time, you lower your total balance. Since we calculate interest based on your current principal, a smaller balance means you'll pay less interest the following month.

Your interest accrues daily based on the current balance of your loan.

When you make payments on time, you lower your total balance. Since we calculate interest based on your current principal, a smaller balance means you'll pay less interest the following month.

Your interest amount can change based on the number of days between your payments. Because we calculate interest daily, longer months or gaps between payments will result in more interest.

Interest is charged on all 366 days during a leap year.

When you make a payment, we apply it to your balance in this order:

1. Unpaid fees and charges other than late charges
2. Interest due
3. Principal due
4. Unpaid late charges
5. Remaining principal balance

You can submit online payments in a couple ways.

A regular payment goes toward the amount due for that period.

A principal-only payment is an extra payment that goes directly toward the principal balance of a loan instead of interest or other amounts due. These extra payments help pay down your loan early but don’t satisfy the amount due for that period.

Yes. You can make regular payments ahead of their due date or apply them directly to the principal.

If you make a principal-only payment, it won't affect your scheduled payment amount or due date.

Yes. You can pay off your loan early or make extra payments without penalty.

Making a one-time payment can change your next automatic payment in a couple ways:

• If you pay the full amount due by 9 p.m. CT at least 2 business days before your draft date, your next automatic payment won’t draft.
• If you pay less than the full amount due by 9 p.m. CT at least 12 days before your draft date, your next automatic payment will be reduced by the amount you paid.

Principal-only payments don’t change or skip your automatic payment. You can find more details in your automatic payment authorization agreement.

If you notice something wrong with your payment, call us within 60 days of the payment date at 800-531-USAA (8722).

You’ll get a refund for the amount you overpaid 15 calendar days after the final payment is posted.

If you're on automatic payments, you'll get your refund electronically through ACH. If not, you'll get a check by regular mail, which could take another 7 to 10 days.

Mail all payments to:

USAA Federal Savings Bank

Attn: Auto loan payoff 

10750 McDermott Freeway

San Antonio, TX 78288-9876



Make sure to include your loan account number on your payment.

If you're current on your loan payments, you can ask to extend your due date on usaa.com or the USAA Mobile App. Payment extensions are subject to availability and eligibility requirements. You’ll still owe interest during the extension period.

If your loan is past due and you’re unable to make a payment, call us at 800-531-0533.

No. Loan payment due dates can’t be changed. But you can choose your preferred date when you close your loan.

Yes. You need to make changes at least 2 business days before your payment is due.

Yes. You you can enroll in optional automatic payments that come from another bank. To qualify for the 0.25% rate discount, you must:

• Set up automatic payments when you finalize your loan before signing your loan agreement.
• Be an account owner.
• Provide the account and routing information for the external account.
• Verify your ownership of the account.

To keep your loan in good standing, you need to continue to make payments while your insurance company processes your total loss claim. Once we get the insurance settlement payment, we’ll apply it to your loan balance.

If the settlement is more than the amount you owe, you’ll get the remaining funds sent to you.

If you still owe on the loan, you'll need to continue making your contractual payments until it’s paid in full.

If you bought a service contract or other protection products through the dealership, you may qualify for a refund. Review the terms of your agreement or contact the dealer or provider to learn more.

SCRA provides benefits to qualifying service members, including a 6% interest rate cap on pre-service debt.

USAA Bank goes above and beyond by providing a 4% interest rate cap.

For more info, read about SCRA and state benefits.Visit SCRA benefits page

If you're getting Servicemembers Civil Relief Act (SCRA) or state service member benefits or protections, your refinanced loan may no longer be eligible for benefits or associated protections.

For more info, read about SCRA and state benefits to understand your SCRA benefits and protections.