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Does BofA give car loans if the seller is a private party?

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Old 07-06-2015, 12:35 AM
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E55, past: SL55, 560SEL
Does BofA give car loans if the seller is a private party?

It looks like they do (according to their website) but I just want to make sure.
Here's the link where they show "private party APR" in the bottom right corner http://promotions.bankofamerica.com/autobac/

I need to apply for the loan and close the deal in the same day. Anyone had experience with this?
Old 07-06-2015, 01:31 AM
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So did you get the loan from them ?
Old 07-06-2015, 08:35 AM
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E55
Bank of America doesn't advertise PP Loans but they do. You need excellent credit and they may ask for photos of the current owners title and registration. Give them a call. Depending on the vehicle they may or may not. These older AMG's are a high risk loans for a lot of banks and they don't like loaning money out to older high performance cars. There worst fear is a catastrophic failure and the customer not being able to fix the car and stop paying for it.
Old 07-06-2015, 08:52 AM
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yes. you only need the vin to apply if i remember correctly, but you will need copies of the front and back of the title to complete the loan and get your money. I went through the process personally.. if the seller is not very accommodating it can be a pain.
Old 07-06-2015, 09:00 AM
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I just did 2 PP loans through them in the last year. You do need the seller to cooperate but the rates were good and they send a check out in a couple days.
Old 07-06-2015, 09:25 AM
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Jetta TDI [Daily] , Audi A8L [Sold], '12 STI [Sold], '06 E55 [Sold], '05 S500, '15 GLA250
BofA was super easy for me. One day turnaround, good interest rate. Very painless process.
Old 07-06-2015, 10:01 AM
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96 and 08 911 turbos
if you have excellent credit, take a look at lightstream.

unsecured loan at interest rate in the low 2s.
Old 07-07-2015, 12:40 AM
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Got a loan through my credit union instead. BofA was just more difficult to deal with.
Old 07-08-2015, 12:33 PM
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Use a credit union instead, much better deals. I got 1.9% on a car with 140k miles previously.
Old 07-10-2015, 04:20 PM
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Credit union my rate was 1.74%
Old 07-10-2015, 07:43 PM
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I went with the credit union but because the car is a 2006 the lowest rate I could get was 6.74%, even with perfect credit. . Kinda blows but I'm paying the car off in a few months anyway.

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