A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance. I have a car loan from ally that I am trying to refinance, the new lender has asked for a ten day pay off balance quote, I'm unsure what I'm supposed to send.By including a per diem amount in the letter, the parties will not have to execute another payoff letter if the termination date. This form must be completely filled out and submitted along with all required documents. Works 125 days in a fiscal year, if paid on a per diem basis. 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. If eligibility is established, the lender may print the COE for their records. This eliminates completing a paper application (VA. Cash of the Payoff Amount plus the Per Diem Amount (if any) (each as defined in the Payoff.