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. Use the payment calculator to estimate monthly payments. Check out the Chase Auto Education Center to get car guidance from a trusted source. A 10 day payoff is crucial to getting your old loans paid off during a refinance. Learn how it works from start to finish. 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. Check out our loan payoff template selection for the very best in unique or custom, handmade pieces from our templates shops.