The dealer must, within 7 days, notify the lien holder in writing that the vehicle has been traded in. A 10 day payoff is crucial to getting your old loans paid off during a refinance.Learn how it works from start to finish. Do you need a loan payoff request form? Print a "UCCU Authorization for Payoff form" and have the seller fill it out and sign it. Say you have a mortgage and want to know exactly how much you'd need to pay to satisfy the loan. A mortgage payoff letter will tell you that magic number. This Payoff Request Form is essential for borrowers seeking to obtain a payoff amount for their loans. If you want to get a payoff letter for the car loan, simply contact your lender. The variables include time for your state's processes and for the lienholder to send notification of the loan payoff.