How to Request an Automobile Payoff Letter

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If you have an automobile loan and want to pay off the loan early, you can request a payoff letter, also called a payoff quote, from your creditor. The payoff letter shows how much you owe on the loan, including any interest you need to pay up to the payoff date. Most lenders allow you to request a payoff letter online, as well as over the phone.

Over the Phone

  • To request a payoff letter over the phone, call your lender’s customer service number, which you can find online at the lender's website and on your loan documents. Some lenders have automated systems that walk you through the process, while others require you to speak with a customer service representative. Typically, you'll need to provide your account number as well as date of birth and Social Security number to verify your identity.

Via Online Account

  • Some lenders allow you to request your auto payoff letter through your online account. After logging into your account, look for a link to "payoff quote" or something similar. After providing the necessary information, the lender immediately shows you the amount you would need to pay to close the loan. Some banks offer a same-day payoff amount, as well as a future date payoff amount. For example, Bank of America provides a same-day and 10-day payoff amount as of 2015.

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