Got Questions About Your Auto Loan or a Recent Accident or Theft?
We’ve got answers!
Scroll to the bottom of the page to find our Existing Auto Loan FAQs and Auto Accident or Theft FAQs—everything you need, all in one place.
How to List SCCU as the Lienholder on Your Auto Insurance Policy
To help prevent any confusion and unnecessary expense associated with costly collateral protection insurance (also called force-placed insurance), ensure SCCU is listed on your auto insurance policy.
Lienholder/Loss Payee
Space Coast Credit Union
PO Box 3220
Carmel, IN 46082
How to Make Auto Loan Payments
Pay Your Auto Loan in Online Banking: It's easy! Sign up for automatic payments or make a manual payment from either your SCCU savings or checking account in Online Banking. You can also make a payment from another financial institution.
Mobile Wallet Loan Payments: Add your SCCU Auto Loan to your Apple Wallet app or Google Pay app (GPay), and make one-time loan payments securely and conveniently through your mobile wallet.
Quick Tips
In the event your vehicle is totaled or stolen, or you have unexpected major mechanical repair costs, it's important that you have auto protection for your vehicle, boat, RV, or motorcycle. Having Guaranteed Asset Protection (GAP) and Extended Warranty can save you major out-of-pocket expenses if you need to repair or replace your car.
If you're getting ready to pay off your loan, call us for a 10-day quote with an exact payoff amount.
Choose a Payment Due Date That Works Best for Your Budget
You can easily request to change your auto loan due date in Online Banking through a secure form or chat live with one of our Team Members.
Existing Auto Loan FAQs
Members must contact Express Services to make changes to the loan. Space Coast Credit Union requires a new application for approval in order to add or remove a member to or from a loan. Fees may apply.
You will have to refinance the vehicle in order to remove a name from the title.
Space Coast does not issue coupon booklets. We will, however, send out a monthly statement at your request by the 7th of each month.
We offer GAP, Warranty, Life & Disability coverage on your loan. Learn more about these Member Protection products today.
If you have an account with SCCU or with another financial institution, you can set up a one-time or recurring payment in Online Banking or with the SCCU Mobile app.
Mobile Wallet Loan Payments: You can also add your SCCU Auto Loan to your Apple Wallet app or Google Pay app (GPay), and make one-time loan payments securely and conveniently through your mobile wallet.
Space Coast Credit Union requires a letter from the State Department of Motor Vehicles (DMV) on DMV letterhead requesting the title be mailed to the DMV for registration purposes. This request must include your name and vehicle information (VIN, Year, and Make). This request can be mailed or faxed to Loan Servicing (fax 321-752-2304). When received, the title will be mailed to the DMV by certified mail.
An electronic title is an electronic version of the original paper title and is stored with the Department of Motor Vehicles (DMV). All vehicle titles are electronic on loans originated after 9/20/06 with the exception of some vehicles titled and registered outside of Florida.
All vehicle titles are held electronically on loans originated after 2006 with the exception of out of state titles.
No, we do not charge a fee for paying off an auto loan early.
Pay Online at SCCU.com: Enroll in Online Banking and manage your SCCU accounts from anywhere. With your loan information and member number, you can enroll in Online Banking and download the SCCU Mobile app.
Mobile Wallet Loan Payments: Add your SCCU Auto Loan to your Apple Wallet app or Google Pay app (GPay), and make one-time loan payments securely and conveniently through your mobile wallet.
Pay by Phone: Call (800) 447-7228 and follow the prompts. You will need your member and loan numbers to make a payment.
Pay at an SCCU Branch: To locate your nearest branch, please visit SCCU.com/Locations.
Mail Your Payment (include your loan number):
Space Coast Credit Union
P.O. Box 419001
Melbourne, FL 32941-9001
Acceptable Forms of Payment Include:
- Check (Personal, Business, On-Us, Teller Check, Money Order)
- Debit Card
- Cash and/or Transfer from SCCU Account
If the GAP was purchased through SCCU, please contact our loan servicing department at 321-752-2222, ext. 5505 to cancel. If you cancel within the first 60 days of coverage, you are entitled to a full refund of the premium. After 60 days, you will receive no refund of premium paid.
Space Coast Credit Union will purchase Collateral Protection Insurance (also known as Forced Placed Insurance) and add the premium to the balance of your auto loan. Collateral Protection Insurance is insurance that protects the property (vehicle). This insurance does not replace insurance coverage for drivers required by law.
Space Coast Credit Union requires Collision and Comprehensive coverage on all vehicle loans. Be sure to add SCCU as the lienholder on your auto insurance policy:
Space Coast Credit Union
PO Box 3220
Carmel, IN 46082
Our auto loans are simple interest loans, so the amount of interest you pay each month is based on the loan balance on the day the payment is made. The amount of interest you pay each month changes based on the amount of days in between payments.
(Principal balance X Interest rate /365= the amount of interest owed per day)
Example: $9392.70 X 5.74%/365= $1.48 per day
30 days since last payment: 30 X $1.48 = $44.40 of the payment will be applied to interest.
31 days since last payment: 31 X $1.48 = $45.88 of the payment will be applied to interest.
60 days since last payment: 60 X $1.48 = $88.80 of the payment will be applied to interest.
We report to the credit bureaus once a month at the end of each month. A late payment will report if it is greater than 30 days late on the last day of the month.
Auto Accident or Theft FAQ's
- Step 1: Contact Your Insurance Company
- Make sure SCCU is listed correctly as the lienholder or loss payee on your policy.
- If your car is declared a total loss:
- Your insurance company will contact SCCU for a Letter of Guarantee. They can call us at 800-447-7228.
- If you have GAP coverage (Coverage and Terms may vary), you'll need to file a GAP claim.
- If your car isn’t totaled, your insurance provider will guide you through the next steps.
- Step 2: Filing a GAP Claim
- If you purchased GAP through SCCU, we'll initiate the claim once we receive the Letter of Guarantee request from your insurance company.
- If your GAP coverage (Coverage and Terms may vary) is through another company, contact your GAP provider directly to begin the claim process.
- Step 3: Monitor Your Loan
- SCCU provides an automatic 3-month loan extension to pause your payments while you manage your claims. Please note that interest may continue to accrue during this period.
- Check your loan account for settlement and refund activity.
- If a balance remains after all proceeds are applied, you are responsible for continuing payments.
- The vehicle cannot be safely repaired.
- Repair costs exceed the vehicle’s value.
- Damage meets your state’s total loss criteria.
- The vehicle is stolen.
- Your insurance company makes the final determination.
- Yes. SCCU offers a 3-month loan extension to help you through the claims process.
- After that, you must resume monthly payments until the loan is paid off.
- If you’d like to discuss your options, reach out to us.
You’re still responsible for paying off the remaining loan balance per your loan agreement. Here are your options:
- Continue making payments until the loan is paid off.
- Refinance the balance into a personal expense loan (new rates apply).
- Roll the balance into a new auto loan. Contact us to explore this option.
If you’re experiencing financial hardship, our Credit Solutions team is here to help.
You’re still responsible for paying off the remaining loan balance per your loan agreement. Here are your options:
- Continue making payments until the loan is paid off.
- Refinance the balance into a personal expense loan (new rates apply).
- Roll the balance into a new auto loan. Contact us to explore this option.
If you’re experiencing financial hardship, our Credit Solutions team is here to help.
- If you purchased GAP through SCCU, we’ll initiate the claim. Our GAP provider will follow up if additional documents are needed.
- If your GAP is through another company, you must file the claim and follow up with your GAP administrator.
If your GAP is with SCCU:
Your insurance company should send us the Market Valuation and Settlement Breakdown. Have them email those to ConsumerLS@SCCU.com
If your GAP is with another provider:
Contact your GAP administrator directly.
Yes, you can.
The insurance payout will be reduced to reflect the salvage value. We can move forward with a reduced settlement if your payment covers the full remaining loan balance.
If a balance remains after the payment, it’ll need to be resolved before we can proceed.