What is a title?
A title is a legal document with identifying information about the vehicle, the registered owner, and, if applicable, the lienholder or legal owner. Not every powersports vehicle has a title, such as off-road vehicles, watercraft and snowmobiles. In addition, every state has its own way of dealing with titles, so check with your state’s Department of Motor Vehicles (DMV) to learn more about your vehicle’s title and the process of obtaining a title if needed.
Will I receive a title to my vehicle once my loan is paid in full?
Not all vehicles financed by Performance Finance have a title for us to send, and even then, each state differs on the title process. Some states send title directly to the vehicle’s owner; some states send title to the lienholder. If your state does not require a title, we will not have a title to send you after your loan is paid in full.
What is a lien release?
A lien is a legal claim to a vehicle. Not every state requires a powersports vehicle, such as a watercraft or snowmobile, to be registered or titled, but we will still secure our lien on the vehicle via a Uniform Commercial Code (UCC) statement. In the case a vehicle is not registered or titled, we will file the UCC statement. We will always secure our lien on a powersports vehicle, titled/registered or not, so that when the loan is paid in full, we will send a lien release to the loan customer with a copy of the UCC. Even if we do not have title for a vehicle, a lien release will always be sent.
Once I have paid off my loan, when will I receive my title or lien release?
Once you have made your final loan payment, and if we have a lien to release or a title for your vehicle, we will release your lien in 2 – 10 business days.
- To ensure the quickest release, we recommend you make your final payoff via wire transfer or by using certified funds (mail a cashier’s check to Performance Finance, PO Box 5108, Oak Brook, IL 60523-5108.)
- Standard payoff methods are by using Performance Finance Online Banking (visit GoPerformanceFinance.com) for your final payoff, or mail a personal check to Performance Finance, PO Box 5108, Oak Brook, IL 60523-5108.
Need the lien release or title mailing expedited?
We can accommodate your request with a Federal Express delivery, which includes an additional $35 fee. Contact Customer Service prior to payoff and have them add the overnight fee to your account. If you request the lien release or title to be mailed to an address other than the one we have on file for you, we need this request in writing. This helps us provide more security for our customers. Please know that Federal Express can only deliver to a physical address, not a PO Box.
The title or lien release will be sent to the address that is on your billing statement, unless you have notified us of a different address. So please let us and your DMV know of any address changes right away!
Florida titles, if requested by the owner prior to payoff, may be picked up at the local DMV office.
I lost my title. Can I still get a lien release?
To obtain a lien release with a lost or damaged title, contact our Customer Service by email, phone or USPS mail.
[email protected]
(866) 302-4494
Performance Finance Titles Department
10509 Professional Circle, Suite 100
Reno, NV 89521
All requests should include:
- Your full name
- Your loan account number
- Vehicle year, make and model
- Vehicle identification number (VIN)
- Address where you’d like the lien release sent