In this article, I provide a stepbystep guide to help you through the process of refinancing your vehicle from beginning to end. It's the payoff amount 10 days in the future.A payoff letter provides instructions on how to pay off a loan with a lump sum before the loan term ends. Learn how payoff letters work. Take your statement and explain you want to payoff the loan. Use the payment calculator to estimate monthly payments. Check out the Chase Auto Education Center to get car guidance from a trusted source.