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.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. An auto loan payoff quote, sometimes called a 10day payoff, states how much you need to pay off the loan balance. A 10-day payoff statement is a document from your lender that gives us the payoff amount to purchase your vehicle, including 10 days worth of interest. We will typically issue your paid-in-full documents within 7–10 business days of receiving the payoff. Enclosed with this letter, you will find a formal payoff statement confirming the full satisfaction of your loan. The Tesla financing calculator is available in the Design Studio to help you determine the right payment option. Use the CD calculator to see the total interest you can get on a certificate of deposit. Like savings accounts, CDs earn interest and are federally insured.