An auto loan payoff letter is just a way to prove that you have paid in full for a car. If you are selling your vehicle, often the buyer will ask to see the letter as proof that the car is owned free and clear, and does not have any liens against it. You can also use these letters to correct errors on your credit report. If a credit agency still shows you owing money on the ,this can affect your credit score. You may request a loan payoff letter any time after you have paid the loan in full.
What's the Point Behind a Loan Payoff Letter?
Get Car Financing
Even with poor credit.
January 27, 2012
Ad
$1 Credit Report
Get your credit score now!
Get a copy of your most recent credit report too.
Ad
Auto Refinance
Refinance your car or truck now. Get a better interest rate and lower payment.
Refinance Your CarRelated Articles
Search New Cars by Loan Payment »
View estimated loan payments based on local rebates and financing offers.
Loan approval is not guaranteed and is subject to credit application and approval of the lender. Individual loan terms may vary. Use of this website constitutes acceptance of CarsDirect.com's Terms of Use, Disclaimer, Privacy Policy, and Cookie Policy.