To receive a copy of a loan payoff statement, please fill out the below request form. The loan payoff statement includes your principal balance, any outstanding interest due, and potentially any prepayment penalty (if applicable).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 refers to the time it takes for your new lender to pay off your old loans during a refinance. An auto loan payoff quote, sometimes called a 10day payoff, states how much you need to pay off the loan balance. If you don't receive the lien release, submit a request to your lender for proof that the loan has been satisfied. Next, provide the borrower's details and the loan number. Chase Auto is here to help you get the right car. Apply for auto financing for a new or used car with Chase.