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Loans from $10,000 Quick financing at low ratesQuick financing at low ratesBusiness Advantage Auto LoansPurchase the cars, vans and light trucks you need to keep your business rolling or Refinance your vehicle which could lower your monthly payment or interest you pay. With a Business Advantage Auto Loan, a 30-day rate lock guarantee gives you plenty of time to find the right vehicle. Purchase the cars, vans and light trucks you need to keep your business rolling or Refinance your vehicle which could lower your monthly payment or interest you pay. With a Business Advantage Auto Loan, a 30-day rate lock guarantee gives you plenty of time to find the right vehicle. Purchase the cars, vans and light trucks you need to keep your business rolling or Refinance your vehicle which could lower your monthly payment or interest you pay. With a Business Advantage Auto Loan, a 30-day rate lock guarantee gives you plenty of time to find the right vehicle. Requirements:
Advertised as low as APR's (annual percentage rates) are effective as of October 3, 2022, are subject to change and assumes excellent borrower credit history. Your actual APR may differ based on your credit history, approved loan amount, term, state of residence and applicable discounts, such as Preferred Rewards for Business. These discounts will be reflected in your individual APR quote if you are approved for a loan. Subject to credit approval; some restrictions may apply. Example: A 5-year, fixed-rate new car loan for $47,000 would have 60 monthly payments of $883 each, at an annual percentage rate (APR) of 4.79% Requirements:Minimum vehicle value of $10,000, maximum vehicle age of 5 years, less than 75,000 miles. Advertised as low as APR's (annual percentage rates) are effective as of October 3, 2022, are subject to change and assumes excellent borrower credit history. Your actual APR may differ based on your credit history, approved loan amount, term, state of residence and applicable discounts, such as Preferred Rewards for Business. These discounts will be reflected in your individual APR quote if you are approved for a loan. Subject to credit approval; some restrictions may apply. Example: A 5-year, fixed-rate new car loan for $47,000 would have 60 monthly payments of $883 each, at an annual percentage rate (APR) of 4.79% Calculate your monthly loan paymentApplying is easyApply onlineQuickly apply online with no application fees. Lock in your rateYour 30-day rate lock gives you time to shop knowing exactly what you can afford. Go get your vehicleUpon approval, receive a check made payable to the seller or dealer. Financing is easier at authorized dealersHave your financing in hand before you set foot in the dealership. Search our network of authorized dealers, qualify for Bank of America financing and finalize the purchase price with your dealer. Enter ZIP First 5 Digits Required click to Find nearby dealers Connect with usTranscript[MUSIC THROUGHOUT] Buying the vehicle that complements your lifestyle is important. Whether it's a high-powered sports car for your fast-paced personality, or the family-friendly electric vehicle you need for your growing family, Bank of America® can help you feel more in control on the road to buying and financing your next vehicle. You probably spend plenty of time researching what vehicle you really want, using our Online Auto Shopping tool, or other resources. But researching your auto financing is just as important. There are many factors that can impact how much your monthly payment will be. The auto financing process begins with being informed about the whole experience, and we're here to make it as stress-free as possible, to help you get the auto financing you're looking for. Onscreen copy: There will be three main stages to the process. Onscreen disclosure: First, the Getting Started stage, when you can research vehicles and financing options. Then, apply for auto financing online, in person, or over the phone. Onscreen copy:
Onscreen disclosure: Then, in the Loan Approval stage, you may work with a Loan Specialist to discuss the best terms for your financing, submit any additional documents needed, and if approved, close your purchase or refinance. Onscreen copy:
And finally, in the Servicing stage, when your financing is complete, you'll receive your welcome package and first statement, and begin repaying your loan. Onscreen copy:
If you're not sure yet which vehicle might be a good fit for you and your budget, Bank of America can help with that, too. Use our online tools to compare vehicle models and prices, find authorized dealers in your area, and apply for a loan for a specific vehicle. Onscreen copy:
Onscreen copy: Our auto loan calculator can help you figure out how much financing you may need, and even estimate your monthly payment. Bank of America offers financing for new or used vehicles that are purchased from most franchised dealers, and a few independent dealers. Onscreen copy: We also offer financing for refinances, lease buyouts, and purchases from a private party. Onscreen disclosure: When you're ready, you can apply on your mobile device, online at bankofamerica.com, on the phone, or in a financial center. Regardless of how you apply, many decisions only take sixty seconds. You'll then be able to check the status of your application, and upload and electronically sign any documents needed to process your loan. Just make sure to agree to electronic delivery when applying. Onscreen: Onscreen copy: We'll notify you when the application review is complete. You may see advertising about interest rates with an annual percentage rate, or APR, "with rates as low as." Onscreen: The only way to truly know your rate is to complete an application. If approved, there are many factors, such as state of residence, loan amount and term, credit history, and type of vehicle that may cause your actual APR to differ from the advertised rate. Onscreen copy:
Qualified discounts can also adjust your APR. If you are eligible for Bank of America's Preferred Rewards Program, make sure to enroll before you apply for auto financing. Onscreen copy: Onscreen disclosure: Once approved, if you're purchasing from an authorized dealer, we'll provide an approval letter to take to the dealer. Onscreen: On screen copy: The dealer will prepare the financing contracts for you to sign. On screen copy: Then you can drive off in that 500-horsepower dream car, or that electric vehicle with room for half the soccer team. If you're applying for a private party purchase, lease buyout, or refinance, we'll prepare the loan contract for you to sign. Once we receive your signed contract, we'll complete the financing. Onscreen: With the Bank of America team at your side, you'll feel more in control every step of the way. We want to help make an auto financing plan that suits your budget, and put you on the road to owning the best vehicle for your lifestyle. Onscreen copy: Bank of America logo® Disclosure: How do I check the status of my Bank of America application?If you want to check the status of your application and can't wait one more minute, you can call Bank of America at (800) 432-1000.
How do I check the status of my car loan?How can I check my car loan balance online?. You can visit the official website or app of your lender.. Log in with your credentials.. Enter details like your car loan account number and other details.. And check the status of your car loan balance online.. How long does it take to know if you are approved for a car loan?Dealerships will generally approve loans the same day, although it could take a few business days. Banks and credit unions can take anywhere from one business day to a few weeks to approve a loan depending on whether you're a new customer and their loan backlogs.
How long are auto loan approvals good for Bank of America?Bank of America auto loan approvals are valid for 30 days from the date of original application submission.
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