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.A lender's payoff statement or letter will show the amount you need to pay to completely close out the loan. 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. 1. Enter your personal information and amount owed. Private Loan Payoff Letter Template offers a clear and professional format for requesting an official statement of your loan payoff balance. I am writing to request a payoff statement for my personal loan with IdeaMate. I would like to settle the outstanding balance on my loan account. 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.