A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance. It's the payoff amount 10 days in the future.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. Your 10day payoff letter is crucial to ensuring that your new lender sends the correct amount of money so there is no outstanding loan balance left over. 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. The easiest way to calculate your total loan payoff amount is to go online or call your lender directly. Many lenders have calculators available. 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. First contact the lender get a 10 day payoff.