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.You will need to provide the 10day payoff letter to your new loan servicer during the refinancing process. By filling out the finance application, our team at Wayne Ford can start drawing up the paperwork so your car-buying process will be easy and efficient. 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. Whether new or used vehicles, Wayne Bank's low rates and generous term of up to 60 months, help keep your payments affordable. Our Customer Care team is available 24 hours a day, every day except Christmas and Thanksgiving. Call us at 800-522-4100. Most car financing agreements say a lender can repossess your car any time you're in default and not making your car payments.