Payoffs FAQ

Have questions about our payoffs process? Check out our most frequently asked questions below for answers.


Where do I send my payoff?

We offer several options to accept early payoff payments:

  1. Pay online ( > Log In or Register)
  2. Via phone at 1-800-651-0567
  3. Via check to the address listed on the payoff quote
  4. Via wire transfer to the bank account listed on the payoff quote

There is no cost to customers to remit payments using Cat Financial’s online account management or by phone, which are faster and more convenient than mailing a check. Wire transfers are preferred when lien release needs to be expedited. For checks and online payment, a five day holding period is required to ensure the funds have cleared before liens are released.

How quickly can I get a payoff quote?

Payoff quotes for most contracts can be generated using Cat Financial’s online account management ( > Log in or Register). If you are unable to generate a quote automatically, you can submit the request online, and we will respond within one business day.



Depending on the terms of your contract, processing fees or prepayment premiums will apply when you pay off a contract early.

Can you reduce or waive my processing fee?

Payoff processing fees are standard on each contract with Cat Financial, and represent the costs of early termination of the contract and lien release (UCC-3 and title release, if applicable).

Can you reduce or waive the prepayment premium?

Prepayment premiums are an industry-standard practice. They represent the cost of receiving funds earlier than anticipated, and early termination of the contract.


Contract Termination and Paid in Full Process

What is the termination process?

Paid in full documents typically are sent on the fifth business day after receipt of funds. If a wire transfer is sent, we can expedite paid in full documents upon request. Contact us at 1-800-651-0567.

What can delay termination?

  • Checks take five business days to clear
  • Sending an incorrect payoff amount
  • Late fees on the contract accruing after payoff was quoted
  • Insurance cancellation

Have More Questions?

Please contact our customer relations team to verify receipt of funds, current processing status, or for more details on the process. If you're interested in refinancing, our team can also arrange for a discussion with a local sales representative.

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