A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance. It's the payoff amount 10 days in the future.So long as you pay the payoff within the time frame of the payoff you should not owe additional money. Pay it off earlier in the time frame rather than later. 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. When your loan is paid off, your lender will send the lien release to the DMV. Payment will be sent to lien holder. Step 1: Pay off your auto loan. Use DocuSign to electronically request monthly recurring payments. Whether you are a dealer or a loan customer, Westlake has the resources to help you.