Bank of America is introducing new digital capabilities to support consumers in their car shopping and financing journey. Bank of America clients can now get pre-qualified for auto financing to learn how much they may be able to borrow and estimate their terms, all with no impact on their credit scores. Additionally, enhancements to the bank’s Digital Car Shopping tool, such as improved search functionality, EV inventory filtering, loan application integration and in-platform CARFAX reviews help shoppers compare, budget, finance and buy the car that best meets their needs.
Last year, the average car buyer spent more than 14 hours researching, shopping and purchasing their vehicle, according to research by Cox Automotive. With the addition of these new features, Bank of America aims to help consumers save time and gain more control over their car buying experience.
“These resources streamline the car buying process, empowering clients to shop with confidence and focus on vehicles within their price range. From initial research and budgeting to applying for a loan, to driving off the lot, we’re supporting clients throughout their entire car shopping journey,” said Fabien Thierry, Head of Consumer Vehicle products for Bank of America.
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