Bank of America Auto Loan has many different features and tools available for those who are considering an automobile loan. The site is secured, meaning that Bank of America Auto Loan has taken precautions to protect the information of those who apply with them. When an individual applies and enters their personal information, it is encrypted so that the information is scrambled and cannot be used to damage the identity or credit of the individual applying. This is very important as it keeps personal information out of the wrong hands.
In addition to that, Bank of America is a Better Business Bureau accredited auto lender. Companies have to apply for the accreditation, meaning that they will adhere to the guidelines set forth by the Better Business Bureau regarding customer service and satisfaction. This is an admirable quality in a company, because individuals who are unsatisfied can lodge complaints with the BBB.
Bank of America Auto Loan provides calculators that help individuals determine what their monthly vehicle payments might be, and offer a lot of information so that customers can make informed decisions regarding automobile loans.
Bank of America also offers ‘dealer checker,’ so that individuals can find a dealer nearby that will make it easier for them to find the kind of vehicle they’re looking for. They also offer the ability for individuals to receive the application decision in as little as a few minutes. There are many different features that make Bank of America a great choice for those considering receiving an automobile loan online, and their features certainly rival those of other online auto loan companies.
Help and Support:
10/10
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Support and customer service is very important when it comes to this type of company. Because applying for an online auto loan is a huge decision, individuals need to have their questions answered quickly and their concerns addressed just as quickly. Bank of America provides a few different ways in which this happens, starting with their Frequently Asked Questions section. This is where they post the most commonly asked questions regarding loans and how the process works, along with the answers. This allows individuals to get answers to their questions instantly without having to contact the company, and it’s a very convenient thing to have posted on the site.
For those questions that can’t be answered through the frequently asked questions section, there are other options. Phone numbers are posted so that customers can easily get in contact with a representative of the company and ask their questions or voice their concerns and have them addressed. For those who would prefer, there is the option of email as well. Individuals can send a quick email to the company asking their questions or voicing their concerns, and should receive a response fairly quickly.
Because customer service is so important, it’s important that an online auto company provide several ways that they can help their customers through the decision and with the questions they might have. Bank of America is at the top of their class when it comes to help and support.
Payments/Cost:
10/10
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As with most online automobile lenders, there is no cost to apply online with Bank of America Auto Loan. While there are calculators available online to help individuals determine what they might expect to pay each month with an automobile loan from Bank of America, these are all estimated figures and the real cost will not be revealed until the individual applies. The same goes for the example payment amounts on the site. Unfortunately, the site does not indicate the minimum and maximum automobile loans available, so individuals would have to go through the application process in order to determine this.
As with any type of loan, everything is subject to credit approval. There is no option with Bank of America for those with bad credit, and it’s a fact that those with less than perfect credit will probably be charged a higher interest rate if they qualify at all. That said, someone with above average or excellent credit should benefit from the lowest interest rates possible. In the area of cost, Bank of America seems to be very competitive.
Types of Loan:
8.8/10
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Bank of America offers loans for new and used vehicles, RV loans, boat loans and aircraft loans. They also have options for refinancing your current automobile loan.
Summary:
Bank of America Auto Loan is an excellent choice for those considering applying for an online auto loan. They offer a ton of information that individuals can use to research the process, the options this company offers and more. In addition to that, tools that are very helpful can allow the customer to find out what they might expect to pay for an auto loan, as well as where a dealer is in their area that they can utilize when it comes time to choose their actual vehicle. With the Better Business Bureau accreditation, customers feel more secure going with this company over others that may not have that accreditation.
The help and support for customers is excellent, with information and questions posted online as well as options for getting in touch with representatives of the company. Email and phone are among those options, and are the most popular choices for customers who need questions asked or concerns addressed. With the most popular options for automobile loans, including boat and RV options, Bank of America is a great choice for anyone who wants to apply online for an automobile loan. Because of the cost, features, and help and support, Bank of America Auto Loan is one of the best choices for an online auto loan company.
