Customer Frequently Asked Questions

It’s easy. Log into your account. Once logged in, select AutoPay and follow the prompts to set it up. With AutoPay, your payments will be made automatically for you every month, using your choice of VISA, MasterCard, Discover, or a checking or savings account.

You can pay over the phone, online, in person, and by mail, using a Visa, MasterCard, or Discover, or personal checking account. We also partner with PayNearMe, MoneyGram, and Western Union. For a more details, click here to view our Customer page.

We don’t have a grace period. Payments should be made by the due date on your contract. If you pay late, you will owe more in interest, because interest is accrued every day on simple interest financing. To learn more about Simple Interest Financing and how interest is calculated please see the tab below titled “Simple Interest Financing”.

It depends. Late fees are applied according to state laws. Please refer to your Retail Installment Sales Contract or call us toll-free 800-599-8858 for more information.

If your account is current, you may be eligible for a due date change. Please note that a due date change is permanent. To request a due date change, call 800-599-8858.

Your last 12 months of statements and payment history can be found when you log into your account. Call 800-599-8858 if you need help.

Yes. Log into your account and select the link to authorize someone to speak with SAFCO on your behalf. For additional assistance, call 800-599-8858.

Yes. Per your signed contract, comprehensive and collision coverage is required for the life of your contract, and you must provide evidence of insurance upon request. If you’ve not provided us with proof, please contact your agent immediately to send the information to us or use this form. Your insurance must meet these requirements:

• Minimum 6-month policy
• Comprehensive and collision coverage with a maximum of $2,000 deductible on each
• SAFCO as Loss Payee:
  • SAFCO
  • P.O. Box 4520
  • Sioux City, IA 51104

According to your contract, you must maintain qualified auto insurance on your vehicle for the duration of your account. If not, you‘re considered in default. You must provide us with proof of insurance. Complete and submit this form or fax a copy of your policy to 866-319-1597. Be sure to include your name and account number on the fax, and call 800-998-0763 to confirm we received your fax.

If you’ve received a notice regarding your insurance policy cancellation, a letter stating we need proof of insurance, or a non-renewal letter, please provide us with a copy of your insurance policy. Use this form or fax the declaration page from your policy AND your name and account number to 866-319-1597. If you have additional questions, please call 800-998-0763. You can also email the information to MyInsurance@GoSAFCO.com.

Please call 800-599-8858 and select option 4 to speak with one of our insurance representatives. Have the following information when you call:

• Date of the accident
• Name and phone number of the insurance company
• Claim number
• Insurance adjuster information, if applicable
• Police case number, if applicable

All SAFCO customers have simple interest financing. They’re common in auto credit and are also referred to as financing.

• Simple interest contracts are paid back in equal, monthly installments that are determined when you receive the financing. That’s why you’ll see the use of the term Retail Installment Sales Contract on your paperwork.
• Each monthly installment (a.k.a. payment) that you make goes FIRST toward any late fees you may owe, then toward the interest (the price of borrowing money) that has accrued since your last payment, and finally, what’s left of your monthly payment goes toward the amount you borrowed (the principal).
• Although you’ll be paying equal amounts each installment, how that money is applied to late fees and your interest and principal will change if you’re late or early in paying.
• Pay earlier than the due date and more of your payment will go toward your principal. Pay late and more of your payment will go toward fees and paying down the interest you owe, which means it will take longer to pay off your principal and vehicle.

Interest on your account is calculated daily. You can calculate your interest using this formula:

Your principal balance x Your annual percentage rate ÷ 365 (days in a year) = Daily interest charge For example, you owe $12,000. Your annual percentage rate is 22%. So, using the formula above: $12,000 x .22 ÷ 365 = $7.23 (your daily interest charge, also called per diem)

The total amount you pay each month stays the same. How it is applied to what you owe (in interest, late fees, and principal) can change, depending on if you paid on time, early, or

Interest is calculated daily and adds up each day between your monthly payments. For example:

Your daily interest charge is $5.

• If the time between your current payment and your last payment is only 20 days, you would owe 20 days of interest at $5 a day. That equals $100.
• If the time between your current payment and your last payment is 30 days, you would owe 30 days of interest at $5 a day, or $150.
• If the time between our current payment and your last payment is 40 days, you would owe 40 days of interest at $5 a day, or $200.

Although you owe the same amount each month, how your payment is applied can change based on when you pay and if you have any late fees.

When you submit a payment each month, this is how it will be applied to what you owe:

• First, your payment will be used to pay any late fees that are owed.
• Second, your payment will be used to pay the interest you’ve accrued every day since your last payment (see How is the interest calculated on my loan? above)
• Third, what’s left of your payment after paying late fees and interest will be applied to your principal balance.

So, to pay off your principal balance faster, pay on time, avoid late fees, or pay early.

The Servicemembers Civil Relief Act (SCRA), formerly known as the Soldiers’ and Sailors’ Civil Relief Act (SSCRA), is a federal law that provides protections for military members as they enter active duty.

Any active servicemember and individuals to whom the servicemember provided over 50% financial support in the prior 180 days, such as a spouse, parent, child, or other dependent.

Benefits and protections include:

• An interest rate reduction to 6% with activation dates after the date of the contract.
• Protection from repossession without a court order for all active servicemembers.

We search the Department of Defense Manpower Data Center website to find active servicemembers we can link to active SAFCO accounts. If we find that you’re eligible for the SCRA, your interest rate will be reduced automatically, and you’ll immediately begin enjoying the benefits and protections under the SCRA.

If you believe you’re entitled to coverage under the SCRA, but have not been identified as such, please speak with one of our dedicated SCRA Specialists at 407-403-6918 or email SCRA@GoSAFCO.com. Our specialists are available Monday – Friday 8:30 am to 9:00 pm EST and Saturdays 8:30 am to 9:00 pm EST.

Visit the local DMV in your new state of residence. Ask them to send us a written request for the documents required to transfer your title. The request can be faxed or mailed to us:

• Our fax number is 954-556-9331.
• Our address is:
  SAFCO
  Attn: Titles Department
  413 E. Atlantic Blvd
  Pompano Beach, FL 33060

Contact us to make alternate payment arrangements on your account, then work directly with your financial institution(s) to resolve the issue. Your financial institution(s) should provide an avenue for disputing and settling fraudulent payments.

Call 800-599-8858, and select option 2 to get payoff information.

Assistance may be available. Please call 800-599-8858, for more details.

Please overnight your payoff check to:

SAFCO
Attn: Titles Department
413 E. Atlantic Blvd
Pompano Beach, FL 33060