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. 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. Enclosed with this letter, you will find a formal payoff statement confirming the full satisfaction of your loan. 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. At Provident, banking revolves around you. Our digital banking technology is fast, secure, and, best yet, convenient. Hillsborough County 813.837.2451. Manatee County 941.827.4100.