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Yes The following vehicles are not eligible for funding.
Vehicles with a value of less than 6000 based on the bill of the franchise dealer for new vehicles or the wholesale value from an official value guide used car such as NADAguides layer for used vehicles.
Vehicles used for commercial purposes and or business.
Motorcycles, RVs RVs, boats or airplanes.
There are some requirements that dealers and sellers must respond Please be aware of these requirements.
Purchases of independent brokers are generally not eligible for funding an independent broker is a car dealership that sells numerous brands of used vehicles and is affiliated with the exception automaker this condition CarMax В Hertz Car Sales and Enterprise Car Sales.
s The seller must be the same as the registered owner s registered with the title of the vehicle.
The vehicle must be purchased directly from the owner of the vendor consignment sales are not eligible for funding.
The applicant and any co-signer must be at least 18 or 19 in Alabama and Nebraska must live in the U S U S as a citizen, resident alien or non-resident alien.
Specific conditions for your car loan are determined by a variety of factors, but you should be aware of the following.
The minimum amount we fund is 5000 7500 in Minnesota and South Carolina.
Contact us to see which, if any, of these conditions apply to your particular situation.
In most states there are no prepayment penalty, but depending on the particulars of your specific loan situation, prepayment fees may apply for loans that originate in Florida, Louisiana and the Ohio.
Bank of America offers a variety of auto loan types.
Lease buyouts when you decide to buy your leased vehicle.
If you wish to apply for a loan to purchase a vehicle from another person also known as a put private party, you can do so by visiting a financial center.
Be sure to review the conditions of auto loan eligibility and conditions before starting the auto loan application process.
Yes Bank of America auto loans are available in 50 states and the District of Columbia.
You can apply for your auto loan online in minutes There's no charge to apply and most decisions are available in about 60 seconds in cases where applications require a more detailed review, we send you will email when the decision is ready.
You can also schedule an appointment at your local financial center to meet us at your convenience.
You can also schedule an appointment at your local financial center to meet us at your convenience.
No Bank of America does not charge you loan application fees or loan document preparation costs Depending on what state you live, however, title fees and state fees may apply for a loan fee may apply Indiana and Ohio.
When you apply for an auto loan with Bank of America, you will be asked to provide personal information such as your name, address, social security number, employment information, income, US citizenship the status and E-mail adress.
We need your email address to send you information about your application status or to contact you about your experience with the online process If you are concerned about how your email address can be used for marketing information and sharing, you can visit the security Privacy section of our site and set your privacy choices.
Depending on the specifics of your loan application, the following documents may be required before the close of the invoice purchase agreement for the sale, registration, title, lease buyout instructions, proof of income, the federal tax returns, W-2 and the financial statements.
For refinancing loans and lease buyouts, we need information on the specific vehicles such as the make, model, year, mileage and VIN vehicle identification number.
You can access your saved request for 30 days if you are already a customer of Bank America Online Banking, you can access your application saved when you connect.
Most decisions are available in about 60 seconds in cases where applications require a more detailed review, we send you an email when will the decision is ready.
Your loan approval and interest rates are frozen for 30 calendar days from the date of your initial loan.
You can safely check the status of your car loan application at any time, we will also send you an email when a decision about your request was made.
Yes Your purchase loan approval and interest rates are frozen for 30 calendar days from the date of your initial loan, which means you know before shopping exactly how much car you can afford.
For all other types of car loans such as a car loan refinancing or a lease buyout, you must provide a full description of the vehicle, including the year, make, model, VIN number of identification of the vehicle and mileage.
franchise dealerships sell new and used cars for auto manufacturers such as Ford В В General Motors Chrysler В Honda B and other independent dealers are not affiliated with an automaker can sell more vehicles and brands.
Bank of America does not normally finance vehicles purchased from independent brokers General exceptions to this are CarMax В Hertz Car Sales and Enterprise Car Sales.
Bank of America authorized dealer network can help streamline your car buying process Once you have been approved you will get a brand letter to take to one of our dealers network Having a loan approved, you to negotiate with dealers on what really matters the price of the car.
Use our dealer locator tool to find dealers in your area.
special rate programs can be very interesting if they're offered for the specific car you want and they provide appropriate loan terms, but sometimes the terms are too restrictive or you may want different terms.
Dealers often offer cash rebates as an alternative to low-interest Select the reimbursement money and funding with us can be a better option for you in choosing the repayment, by applying it to your down payment and combining this with a low-rate financing from us, you can maximize your total savings.
Within 10-15 days after the closing date, you will receive a welcome kit containing the following items.
Information about your account, including your account number, the date of your first payment is due and the confirmation of your monthly payment amount.
The instructions on how to sign up for automatic payments.
Information about the online banking features and benefits.
The coordinates for the service auto loan customers.
You can sign up for Online Banking in minutes, you can also consider downloading the top-rated Bank of America Mobile Banking application so you can easily manage your auto loan on the road.
Your statement paper is sent each month 20 days before your due date, unless you decide to set up automatic payments through online bill payment in this case, you will not receive statements paper monthly with online Bill pay, you can schedule one-time or recurring bill payments from your checking or market accounts money.
You can also sign up for e-invoices by signing Online Banking and select Bill Pay electronic bill Menu navigation.
Yes just sign Online Banking and select the link auto loan provided under personal accounts section on your accounts overview page on your loan preview page, select sTaTemenTs Documents tab You can access up to 18 months of statements loan.
Pay with Bill Pay If you are an online banking customer, you can log in to establish payments with Bill Pay Bill Pay, you can schedule periodic payments or one-off invoices for your market accounts or checking money.
Pay by phone you can call 800 215 6195 to pay by phone July 24 Please note that payments on the same day can not be canceled.
Pay by mail You can send your car loan payment to Bank of America, NA PO Box 15220, Wilmington, DE 19886-5220 Be sure to include your loan account number with your payment.
Pay in person You can always pay your auto loan in person at one of our financial centers.
If you do not have a deposit account Bank of America, you might be able to set up electronic payments to your auto loan from your account at another financial institution.
If you are an online banking customer, you can log in establishing online payments with Bill Pay Online Bill Pay, you can schedule periodic payments or one-off invoices for your market accounts or checking money.
You can also use the paper registration form included in your Welcome Kit Include a void check and mail or fax to the location indicated on the form.
After registration, you will receive a letter in the mail in 3-4 weeks confirming the start date of your automatic payments to be made To avoid late fees, please continue to make your payment as of usually until you receive the confirmation letter.
Please note When scheduling automatic payments, you will need to register using one method or the paper or banking online registration form Sending the paper form and also signing in online banking can lead to multiple payments made from your account each month.
There are 2 simple ways to get a letter detailing the interest you paid last year on your car loan.
Log in to Online Banking and select the link auto loan provided under personal accounts under your accounts page Presentation Then, in the column labeled Manage your loan at the top of the page, select the interest last year link This open letter paid the letter in your browser and you can print it for your records.
Contact us at 800 215 6195 and request a copy by fax or mail for your interest paid information last year.
Sign in to Online Banking and select the Contact Us link in the menu Support navigation.
Sign in to Online Banking and select the car loan link in personal accounts on your accounts overview page, you can select the link under the QuickView car loan list on your presentation page accounts.
Pay with Bill Pay If you are an online banking customer, you can register to make a payment by online Bill Pay.
Pay by phone you can call 800 215 6195 to pay by phone July 24 Please note that payments on the same day can not be canceled.
Pay by mail You can send the amount of your car loan payment to Bank of America, NA PO Box 15220, Wilmington, DE 19886-5220 Be sure to include your loan account number with your payment.
Pay in person You can pay off your car loan in person at one of our financial centers.
If you don†t have a deposit account Bank of America, you might be able to set up an electronic payment for your car loan from your account at another financial institution.
In most situations, you can expect to receive your press privilege letter paid in full and title if the title is available within 7-10 working days after receipt and processing of your payment If the title is electronic or other conditions apply, our letter will detail the process to get the title and ensure that the privilege of release is properly registered.
Yes, you can refinance your existing car loan if it†s Bank of America or another financial institution When you start your auto loan Refinancing simply select the type of drop-down menu prepared on the first stage of the application.
No Bank of America does not charge you fees for submitting a refinancing loan.
Yes, but if the balance of current loan†gains is more than the current value of the car, you may be asked to pay the difference as a requirement for obtaining your auto loan refinanced.
In most states there are no prepayment penalty, but depending on the particulars of your specific loan situation, prepayment fees may apply for loans that originate in Florida, Louisiana and the Ohio.
When you apply for an auto loan with Bank of America, you will be asked to provide personal information such as your name, address, social security number, employment information, income, US citizenship the status and E-mail adress.
We need your email address to send you information about your application status or to contact you about your experience with the online process If you are concerned about how your email address can be used for marketing information and sharing, you can visit the security Privacy section of our site and set your privacy choices.
For refinancing loans and lease buyouts, we need information on the specific vehicles such as the make, model, year, mileage and VIN vehicle identification number.
Your loan approval and interest rates are frozen for 30 calendar days from the date of your initial loan.
Most decisions are available in about 60 seconds in cases where applications require a more detailed review, we send you an email when will the decision is ready.
You can safely check the status of your car loan application at any time, we will also send you an email when a decision about your request was made.
60 seconds of decision for most applicants with a 30-day rate lock.
We strive to provide you with information about products and services you might find interesting and useful ads based on relationships and online behavioral advertising help us do so.
Here's how it works: We collect information about your online activities, such as searches you perform on our sites and the pages you visit this information can be used to carry advertising on our websites and offline, for example by phone, email and direct mail that's customized to meet the specific interests that you may have.
If you prefer that we do not use this information, you can choose the online behavioral advertising if you exclude, however, you may still receive the generic advertising Furthermore, financial advisors Customers managers can continue to use the information collected online to provide products and service information in accordance with the account agreement.
Also, if you opt for online behavioral advertising, you may still see ads when you log in to your account, for example through online banks or MyMerrill These ads are based on your specific account with us.
To learn more about ads based on relationships, online behavioral advertising and practices regarding privacy, please review Bank of America Online Privacy Notice and our FAQ online privacy.
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