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.An auto loan payoff quote, sometimes called a 10day payoff, states how much you need to pay off the loan balance. Whether you are a dealer or a loan customer, Westlake has the resources to help you. Contact Westlake Financial today. Enclosed with this letter, you will find a formal payoff statement confirming the full satisfaction of your loan. You start with the company you paid. Goodwill letter template.