The Vehicle Payoff Sample Letter form is a crucial document for individuals aiming to transfer their vehicle loan to the State Department Federal Credit Union. Enclosed with this letter, you will find a formal payoff statement confirming the full satisfaction of your loan.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. Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free. The FDIC may be able to assist you in obtaining a lien release if the request is for a customer of a failed bank that was placed into FDIC receivership. Fill Out Application. You must fill out the Application for Vehicle Transaction(s) (VSD 190). Mortgage interest tax deduction example.