A lender's payoff statement or letter will show the amount you need to pay to completely close out the loan. When your loan is paid off, your lender will send the lien release to the DMV.This process can take anywhere from two to six weeks, and if it takes longer, you should contact your lender. Sign on to your account, select your auto loan from Account Summary, and then Get payoff quote. Sign on to your account, select your auto loan from Account Summary, and then Get payoff quote. Once you pay off your loan, your lender will send you an official release of lien letter. A 10-day payoff from the present Finance company on company letterhead. A copy of your Title. This statement includes the loan account number and details of the final payment. How long does it take to fill out the form to apply for an auto loan from Navy Federal?