Does BofA give car loans if the seller is a private party?
Thread Starter
Senior Member
Joined: Dec 2009
Posts: 411
Likes: 2
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?
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?
MBWorld Fanatic!
Joined: Jul 2014
Posts: 1,302
Likes: 25
From: Earth, USA, Atlanta, GA
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.
Member
Joined: Aug 2011
Posts: 111
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From: CA/NYC/Jersey Shore
Current 2014 Maserati Quattroporte and 2017 GLE 63 AMG retired 2007 E63 AMG
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.
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Thread Starter
Senior Member
Joined: Dec 2009
Posts: 411
Likes: 2
E55, past: SL55, 560SEL
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.
