To request a quote, sign in to your online account and click your loan number to go to your dashboard. 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. Get the money you need to claim the vehicle you want. BMO vehicle loans work for new and used cars, along with boats, RVs, and motorcycles. Get access to direct deposit forms, automatic bill payment forms, and loan management from BMO. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Check out our loan payoff template selection for the very best in unique or custom, handmade pieces from our templates shops. 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.