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. Creating a payoff letter is essential to any loan or mortgage repayment process.Our free templates and this guide can help you get started. Enclosed with this letter, you will find a formal payoff statement confirming the full satisfaction of your loan. 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. To receive a copy of a loan payoff statement, please fill out the below request form.