Vehicle Payoff Authorization Form PDF Details

Navigating the process of paying off a motor vehicle can be complex and requires the right documentation to ensure a smooth transaction. The Vehicle Payoff Authorization form plays a crucial role in this process, offering a structured way for the vehicle owner or authorized person to facilitate the early settlement of an auto loan or to conclude a vehicle's financial obligations. This comprehensive form outlines permission for various actions, such as paying off the balance due on a vehicle, transferring ownership documents, and adjusting or terminating associated insurance policies. By specifying terms like the payment amount, vehicle description, and the parties authorized to receive payments or documents, the form ensures clear communication between all involved entities. Furthermore, it addresses the allocation of any unearned insurance premiums or other refunds related to the vehicle's account, simplifying what could otherwise be a complicated aspect of the transaction. Significantly, the document makes it clear that it does not serve as a bill of sale and notifies all concerned parties that the vehicle is sold in "AS IS" condition, explicitly stating that no warranty is provided. This authorization is a vital document that not only streamlines the payoff process but also secures the interests of all parties involved in the transfer or closure of vehicle-related financial matters.

QuestionAnswer
Form Name Vehicle Payoff Authorization Form
Form Length 1 pages
Fillable? No
Fillable fields 0
Avg. time to fill out 15 sec
Other names undersigned, unearned, S-N, authorization for auto loan payoff form, form no 254, vehicle info and payoff authorization form, letter of authorization for vehicle payoff form

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AUTHORIZATION FOR PAYOFF OF MOTOR VEHICLE*

 

 

 

 

 

 

 

 

The undersigned hereby authorizes

 

 

 

 

 

 

 

 

 

 

 

 

 

to do the following (check one):

 

 

A Pay

off the balance due upon the

following-described vehicle, which

balance is $

and is due to

 

 

 

 

 

 

 

 

 

 

 

 

, who is / are hereby authorized to deliver to the bearer of

 

 

 

 

 

 

 

 

 

 

 

 

this instrument the vehicle ownership certificate, insurance policy, original contract, and / or any other document, credit, or refund held in

connection with this vehicle or its account.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A Accept, from

 

 

 

 

 

 

 

 

 

 

 

 

, the sum of $

 

 

 

 

,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

that being the balance due on the following-described vehicle and, upon receipt of the balance due, to surrender to the payor the document

of title pertaining to the vehicle, properly endorsed and released. Also, cancel the insurance policy of the undersigned, and pay any

unearned insurance premium, together with any unearned interest and/or brokerage, to the company or person authorized to make the pay-

off herein described. Any rebate check should be made payable to

 

 

 

 

 

 

 

 

 

 

 

 

 

.

 

 

The vehicle to which this instument pertains is described as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

YEAR

MAKE

BODY TYPE

 

 

 

 

 

 

 

 

 

 

 

 

 

MODEL

VEHICLE ID#

 

 

COLOR

 

 

 

 

 

MILEAGE

 

 

 

 

 

 

 

 

PLATE # AND ISSUING STATE

 

 

This instrument is not a bill of sale. However, all persons are hereby notified that the above-referenced vehicle is being sold in

“AS IS” condition. No warranty is either expressed or implied by this instrument.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IN WITNESS WHEREOF, this instrument was signed at

 

 

 

CITY

 

 

,

 

 

 

 

 

STATE

 

 

by the

 

 

 

 

 

 

 

 

 

 

 

undersigned on

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DATE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SIGNATURE

 

 

 

 

 

 

 

SIGNATURE

 

 

 

 

 

 

 

 

 

NAME (TYPED OR PRINTED)

 

 

 

 

 

 

 

NAME (TYPED OR PRINTED)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DATE OF BIRTH

 

 

DRIVER LICENSE #

 

 

DATE OF BIRTH

 

 

 

 

 

 

DRIVER LICENSE #

 

 

 

 

 

 

 

 

 

WITNESS

 

 

 

 

 

 

 

 

 

WITNESS

 

 

 

 

 

 

* If acknowledgement of notary is either desired or required by law, use S-N Form No. 23 or 24. (If signature is notarized, signature of witness(es) is not required.)

 

 

 

 

 

 

 

 

 

 

 

FORM No. 254 – AUTHORIZATION FOR PAYOFF OF MOTOR VEHICLE.

EE

 

 

COPYRIGHT 2000 STEVENS-NESS LAW PUBLISHING CO., PORTLAND, OR 97204

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Writing segment 1 in payor

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