Bank Of America Launches Financing Website For New And Used Cars

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The Bank of America Car Buying Center links you with more than 4,000 Bank of America certified dealers throughout the United States. This service is free for both Bank of America customers and non relationship customers.

When you visit the Bank of America Car Buying Center website you can:
compare all the car prices
see the photos of different models of your interest
read the user reviews of the service
customize your vehicle options to your specifications
get a low price guarantee from the certified dealers
apply for a loan on your choice of a new car or used car

If you want to get loan program info from multiple lenders, you can always use online services like The Car Loan Center. The Bank of America Car Buying Center offers the following types of vehicle loans in all fifty states:
Dealer purchases
Private party purchases
Refinances
Lease buyouts (auto only)

Keep In Mind The Details on How To Prepare For Your Loan Application
There is not an application fee when you apply for a car loan . Bank of America calculates your required auto loan down payment on a case by case basis. For all loan requests, you will want to expect to be asked to provide personal information such as your name, your address, your Social Security number, your employment information, your income, and your United States citizenship status.

Depending on all the specifics of your particular loan application, the following documents may also be required prior to closing:
The purchase agreement
The bill of sale from the selling party
The registration of the vehicle
The title of the vehicle
The lease buyout instructions for the vehicle
The proof of income from employment
Your federal tax returns
Your W2 statement
Your personal financial statements.

On any dealer purchase loans that you are considering, the bank does not require that you provide the collateral information in order to determine a loan decision. In other words,you may benefit from your ability to get a preapproval and then proceed to go shopping at the dealer of your choice.

For a refinance on a vehicle or a purchase of a vehicle from an individual (private car sales), and lease buyouts, the Bank of America requires complete collateral description including the year, the make and the model, the Vehicle Identification Number (VIN), and the current mileage of the vehicle you are considering for purchase.


About the Author:
Nathan Randall, editor, Daily Dollar Newsletter provides free daily advice on money matters plus coupons and discount codes. FYI...you can now access the Daily Dollar Newsletter via iTunes podcast, YouTube video, and on Facebook and Twitter too.



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