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. Use the payment calculator to estimate monthly payments. Check out the Chase Auto Education Center to get car guidance from a trusted source. How to fill out the Payoff Request Letter Templates? To receive a copy of a loan payoff statement, please fill out the below request form. A vehicle payment plan agreement is a contract between a buyer and seller of a vehicle that agrees to installment payments. For your convenience, we've compiled a list of frequently asked questions to help you understand your accounts and financing options. PO financing can be a good option for businesses with a cash flow shortage that still want to be able to complete an influx of orders.