Eager to know the status of your Bank of America Auto Loan application? Well, good you’re here then as I guide you through on how to easily check your Bank of America Auto Loan Application status online.
Waiting to get a feedback from a lender after applying can be a very long wait. Especially when you’re not so sure if you qualify for a loan or not. Bank of America has and continues to provide customers with good auto loans without much stress in order for them to purchase their dream cars.
Persons who apply for Bank of America Auto Loans usually receive a response within a few minutes. However, it may take longer in some cases which may mean that you probably did a few things wrong or doesn’t quite meet certain requirements.
READ ALSO: Bank of America Car Loan Eligibility Requirements & Conditions
Things To Note Before Applying
Here are somebof the things you must take note of before applying:
- Applicant must be 18 years and above
- Must also be a US citizen or one who is a permanent resident
- Minimum amount you can finance is $7,500 with the exception of Minnesota which is $8,000
Vehicle restrictions include:
- The vehicle you choose shouldn’t be older than 10 year
- Distance covered not exceeding 125,000 miles
- Vehicle must be used for personal use and not Commercial
- Salvaged, delivery, gray market, branded title vehicles are not eligible
- Etc.
Information Required When Applying
These are very important information you must provide during the application stage:
- Citizenship status
- Personal Information (name, address, phone, email address, Social Security number)
- Employment information, income, etc
Additional information may include:
- Proof of income
- Purchase agreement/ bill of sale
- Registration
- Title, lease buy out details
- Federal tax returns
- W-2s
- Financial statements
If you’re satisfied you provided the correct information and meets the eligibility requirements, you can go ahead and check your Bank of America Auto Loan application status.
READ ALSO: Bank of America Auto Loan Rates
How To Check Your BoA Auto Loan Status
To check the status of your auto loan,
- Click Application Status Center
- Enter your date of birth and mother’s maiden name
- Enter your Social Security Number (SSN)
- Click “Continue” to check sign in
- You can then view the status of your application
NB: Bank of America will also send you an email after a decision is made regarding your auto loan application.
How long does your loan offer lasts?
If your loan application is successful and you’re given an offer, note that the offer plus interest rate you’re offered is only valid for 30 calendar days after the day you submitted your application.
Where To Buy Your Car With A Bank of America Auto Loan
Your Bank of America Auto Loan can be used to purchase either a new or used car from franchise dealers, approved independent dealers and private party.
Approved independent dealers you can buy from are CarMax, Carvana and Enterprise Car Sales.