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.To release a lien or security interest, contact the lender holding the Lien to electronically release the title. It can take up to six weeks or more to have the lien removed from your car title and make it officially yours. Your account number is provided with the loan details in the welcome letter that you receive in the mail after your new loan is funded. If you want to know what it will take to pay off a loan, you'll need to access a payoff statement (sometimes called a payoff letter). Thinking about trading in a car that you still owe money on? How long does it take to fill out the form to apply for an auto loan from Navy Federal? It typically takes less than 10 minutes to complete an application. Include your vehicle account number with your payoff payment to avoid any processing delays.