This form is a sample letter in Word format covering the subject matter of the title of the form.
This form is a sample letter in Word format covering the subject matter of the title of the form.
Basically, your balance is what you currently owe, and your payoff is what you owe plus interest that accrues from the statement date and a specific payoff date.
Some dealerships may not take trade-ins on vehicles that require significant repairs, so it's worth checking the dealer's policy on trade-ins and whether they accept junk cars.