Automobile Loan FAQs.Get the responses you will need to typical questions regarding brand brand new, utilized and refinance automobile financing

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

Bank of America offers many different car finance kinds:

  • Dealer acquisitions (whenever you buy a brand new or car at a dealership)
  • Refinancing of present automobile financing
  • Rent buyouts (whenever you end up buying your leased automobile)
  • Personal celebration (whenever you buy a car from another individual). Personal celebration loans are limited by applicants by having a current banking relationship.

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

  • Cars avove the age of 10 calendar years
  • Cars with 125,000 kilometers or higher
  • Automobiles respected at lower than $6,000 (according to franchise dealer invoice for brand new automobiles or perhaps the value that is wholesale a formal car or truck value guide such as for instance NADAguides layer for used cars)
  • Cars employed for commercial and/or company purposes (we do provide small company automobile loans through our Business Advantage product)
  • Commercial cars
  • Salvaged or branded-title automobiles
  • Gray lemon or market law automobiles
  • Conversion or delivery automobiles
  • Motorcycles, fun automobiles (RV), ships or aircraft

You should be 18 yrs old or elsewhere are able to lawfully contract for automotive funding in a state of residence, and either a U.S. resident or resident alien (permanent or non-permanent).

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

Certain terms for the car finance are based on a number of facets, however you should become aware of the immediate following: