Guide on the Bank of America Auto Loan Requirements in Applying and Prior to Loan Closing
BANK OF AMERICA AUTO LOAN REQUIREMENTS – Here is a list of the documents and information that you must prepare in applying for this loan.
Aside from buying a house or any residential property such as a condominium unit or a townhouse, another big goal that most people have is getting a car. What is your dream car?
Some people achieved a car before they got a residential property. Others did it in cash while some individuals got it with an assistance of a loan. There are several banks and lending companies that offer auto loans provided that the borrower passed the qualifications and has the capacity for the loan.
In the United States, one of the banks with car loan offers is the Bank of America. It is one of the multiple loan offers of the bank aside from a cash loan and a home loan.
The Auto Loan offer is open to fund the purchase of a brand new car and a second-hand vehicle. It is also open for refinancing of an auto loan and as well as lease buyout and private seller loans.
Like in other loan offers, the bank has set eligibility and documentary requirements in applying for the said loan offer. To check if you are qualified to apply for it, you may visit – Bank of America Auto Loan: Are You Qualified To Apply For This Loan?.
The application for the Bank of America Auto Loan can be done online. There are documents and information that you must prepare. Here is a list of the requirements:
- Personal Information
- Name
- Address
- Social Security Number
- Employment Information
- Income
- U.S. Citizenship
- Email Address
- Requirements Prior to Loan Closing:
- Purchase agreement/bill of sale
- Registration
- Title
- Lease buyout instructions
- Proof of income
- Federal tax returns
- W-2s
- Financial statements
- For refinance loans and lease buyouts
- Vehicle information such as the following:
- model
- year
- mileage
- vehicle identification number (VIN)
- Vehicle information such as the following:
Do you want to check on the possible monthly due before applying for the loan to the Bank of America? You may visit – Bank of America Auto Loan – How Much Will Be Your Monthly Loan Due.
READ ALSO: Low Interest Credit Card? Here’s Bank of America’s “BankAmericard”
