Bank of America : Requirements and Conditions for Auto Loan

ð  Maximum vehicle age not more then 10 calendar years.

ð  Vehicles with more then 125,000 miles are not eligible for financing

ð  No hybrid-modified vehicles will be financed

ð  No non-standard manufacturer vehicles will be financed

ð  No commercial vehicles will be financed

ð  No vehicles used for commercial/business purposes will be financed

ð  No salvage, rebuilt or branded title vehicles will be financed

ð  No gray market or lemon law vehicles will be financed

ð  No motorcycles will be financed

ð  No cash out or title loan financing

ð  Applicant must be 18 years of age or over (19 years if in Alabama or Nebraska) and a U.S. citizen, resident alien or non-resident alien and residing in the U.S. to apply for an auto loan.

ð  No independent dealer purchases

ð  Seller(s) and registered owner(s) listed on the title must be one and the same

ð  Vehicle must be purchased directly from the seller/owner (no consignments)

ð  Term limits may apply

ð  Minimum loan amount $5,000 ($7,500 in Minnesota and South Carolina)

ð  Loan-to-value restrictions apply

ð  Down payment may be required

ð  State taxes, fees, tag, title and any purchased service/insurance products may apply

ð  Powers of Attorney are not accepted

ð  Lease buyouts require that all applicants are listed on the existing lease

ð  Bank of America do not offer financing for lease buyouts that include a name change

Source : Internet