Automobile Loan FAQs.Get the responses you’ll want to questions that are common brand brand new, utilized and refinance automobile financing

Automobile Loan FAQs.Get the responses you’ll want to questions that are common brand brand new, utilized and refinance automobile financing

Have the responses you’ll want to typical questions about brand brand new, utilized and refinance automobile financing

Bank of America provides a number of car loan types:

  • Dealer acquisitions (whenever you buy a unique or car that is used a dealership)
  • Refinancing of present automotive loans
  • Rent buyouts (whenever you decide to purchase your leased automobile)
  • Personal party (whenever you buy a car from another person). Personal celebration loans are limited by candidates having a banking relationship that is existing.

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

  • Cars more than 10 calendar years
  • Automobiles with 125,000 kilometers or maybe more
  • Cars respected at significantly less than $6,000 (predicated on franchise dealer invoice for brand new cars or even the value that is wholesale a formal car or truck value guide such as for example NADAguides layer for used automobiles)
  • Automobiles employed for commercial and/or company purposes (we do offer small company car loans through our Business Advantage product)
  • Commercial automobiles
  • Salvaged or vehicles that are branded-title
  • Gray market or lemon law automobiles
  • Conversion or delivery automobiles
  • Motorcycles, entertainment automobiles (RV), boats or aircraft

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