Tag Archive: Car Dealer

Does anyone know why Bank of America won’t finance an auto loan for an independent used car dealer?

braveslady08 asked: I applied for an auto loan and was approved, but once I sent in my purchase agreement my loan rep said that they would only finance auto loans for franchise dealers – no independent used car dealers. I know the car and the dealership are fine. I have the carfax report on the…

What is a reasonable interest rate for a used auto loan?

shytiger asked: I plan on purchasing a used car from a local dealer, and go shopping at several car dealerships. What is, in your experience, a reasonable, most used interest rate for the auto loan financed through the dealership? Get a great rate on an auto loan now!