Have the responses you will need to typical questions regarding brand new, utilized and refinance auto loans

Have the responses you will need to typical questions regarding brand new, utilized and refinance auto loans

Bank of America provides a number of car loan kinds:

  • Dealer acquisitions (whenever you buy a fresh or car that is used a dealership)
  • Refinancing of present automobile financing
  • Rent buyouts (whenever you decide to purchase your leased car)
  • Private celebration (whenever you purchase a car from another person). You are able to submit an application for an exclusive celebration loan by going to a monetary center.

Yes. The following automobiles are maybe not qualified to receive funding:

  • Automobiles avove the age of 10 calendar years
  • Cars with 125,000 kilometers or maybe more
  • Automobiles respected at not as much as $6,000 (predicated on franchise dealer invoice for brand new automobiles or perhaps the value that is wholesale an formal car or truck value gu layer for used cars)
  • Cars utilized 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 cars (RV), ships or aircraft

The applicant (and any co-signer) needs to be at the very least 18 years old (19 in Alabama or Nebraska) and must reside in the U.S. Being a U.S. Citizen, resident alien or alien that is non-resident.

Yes. Bank of America car and truck loans can be purchased in all 50 states therefore the District of Columbia.

Particular terms for the car loan are dependant on a number of facets, you should become aware of the annotated following:

  • The minimum amount we finance is $7,500 ($8,000 in Minnesota)
  • Term restrictions may use
  • Loan-to-value restrictions use
  • A payment that is down be needed
  • Title and state costs may use
  • That loan cost might use in Indiana and Ohio

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