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

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 car and I’ve had a mechanic take a look at it. Frustrated!

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