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Bank of America Launches Car-Buying Site

November 23, 2010

CHARLOTTE — Bank of America rolled out today a new online shopping site for new and used vehicles that links prospective buyers to the bank’s certified dealers.

The new online research and purchasing site, www.bankofamerica.com/carbuyingcenter, is powered by Zag, a division of TrueCar Inc. and a provider of private-label online and mobile car-buying programs.

The site promises to provide consumers with an upfront price in writing, which will be honored by the more than 4,000 dealers certified by Bank of America. Users can even lock in a haggle-free price while online. Zag officials added that site users can expect average savings of $4,356 off the manufacturer’s suggested retail price

“We’re listening to our customers and understand they are looking for an easy and convenient way to shop online for a vehicle,” said Ellie Clarke, president, Bank of America Dealer Financial Services. “At our online Car Buying Center, you can compare prices, see photos and read user reviews, customize your options, get a low price guarantee from certified dealers, and apply for a loan on a new or used car. It’s all in one place.”

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