Bank of America has selected VINtek, a provider of automotive collateral management services, to tap into the growing demand for direct-to-consumer auto finance.
VINtek has expanded its direct-to-consumer auto loan service for Bank of America to include providing the bank with direct auto finance leads via the company’s Tax, Tag and Title Calculator.
VINtek will offer Bank of America with new auto loan opportunities, help close the loan online, handle the DMV work for the consumer and perfect the lien for the bank in an integrated suite of online services
Bank of America will receive automotive loan applications from interested consumers who have accessed the Tax, Tag and Title Calculator through VINtek’s website.
Bank of America Direct Auto Financing senior vice president JD Decker said that by working with VINtek, the bank can increase its visibility to potential customers at a very opportune time in their vehicle purchase process.
“Consumers who link to our site find an easy application process, quick loan decisions and a seamless online documentation process that incorporates electronic contracts and electronic signature and the ability to avoid going to the DMV,” Decker said.
“With VINtek we are able to provide consumers with a convenient, professional customer experience further differentiating our loan products in the marketplace.”