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Automobile Loan FAQs.Get the responses you’ll want to typical questions regarding new, utilized and refinance automobile financing

Automobile Loan FAQs.Get the responses you’ll want to typical questions regarding new, utilized and refinance automobile financing

Obtain the responses you’ll want to questions that are common brand new, utilized and refinance automobile financing

Bank of America provides a number of car finance kinds:

  • Dealer acquisitions (whenever you buy a brand new or car that is used a dealership)
  • Refinancing of present automotive loans
  • Rent buyouts (whenever you decide to purchase your leased car)
  • Private celebration (whenever you buy a car from another person). Personal celebration loans are limited by applicants with a existing banking relationship.

Yes. The after automobiles are maybe not entitled to funding:

  • Automobiles avove the age of 10 calendar years
  • Automobiles with 125,000 kilometers or even more
  • Cars respected at not as much as $6,000 (predicated on franchise dealer invoice for brand new automobiles or the value that is wholesale a formal car value guide such as for instance NADAguides layer for utilized cars)
  • Automobiles employed for commercial and/or company purposes (we do provide business that is small loans through our Business Advantage product)
  • Commercial automobiles
  • Salvaged or vehicles that are branded-title
  • Gray lemon or market law automobiles
  • Conversion or delivery cars
  • Motorcycles, activity automobiles (RV), ships or aircraft

Continue reading Automobile Loan FAQs.Get the responses you’ll want to typical questions regarding new, utilized and refinance automobile financing