So Im buying someone else car loan, the person is paying $369/m for a Nissan Versa 2014 and owes about 2 years from a total of 6 years, the payoff letter from the bank will be for the amount of payments owed or for the remaining balance (principal)??
Original Bank: FirstBank PR (72 months loan)
Refinance: Penfed at 3.99% APR (36 months)
The person does not know the interest rate on is loan, I estimate is around 7-9%