The new capabilities will allow customers to search for a vehicle by using their mobile devices or computers. They will also be able to obtain Bank of America financing for purchasing a car directly within the app.
The new tool integrates vehicle shopping with finances. Clients can select a new or used car from partnered dealerships, estimate their monthly payment and apply for a loan, which can be approved by the bank within minutes. The car shopping service is optional and account holders will be able to request and obtain a loan not linked to a specific vehicle.
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