An auto loan payoff letter is just a way to prove that you have paid in full for a car. If you are selling your vehicle, often the buyer will ask to.To receive a copy of a loan payoff statement, please fill out the below request form. Connect with us at BMO to discuss your auto loan, or how to get one for the car or truck you want. Check out our car loan template selection for the very best in unique or custom, handmade pieces from our templates shops. Make sure your final loan payment meets all the requirements of the bank and do not assume that auto bill pay ensures that your bill is paid. What you need to know after paying off your auto loan. Here are three things to know after paying off your loan. An auto loan payoff quote, sometimes called a 10day payoff, states how much you need to pay off the loan balance. Tesla Financing is not available in all states and additional taxes and fees may apply.