A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance. 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.You will need to provide the 10day payoff letter to your new loan servicer during the refinancing process. 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. A 10day payoff statement tells you the amount you owe toward your loan in order for the loan to be closed and marked as "paid in full." Bring the paid loan letter, which includes the lien release statement, to your RMV to request a new title. You will be responsible for all fees. A bill for the relief of Robert. You can sign-up online, 24 hours a day!