New Bank of America and VMI National Agreement Puts Wheelchair-Accessible Vehicle Financing Only a Few Clicks Away

Vantage Mobility International May 14, 2014

Vantage Mobility International (VMI) today announced an agreement with Bank of America that will make it easier for consumers nationwide to apply for financing of wheelchair-accessible vehicles. Under the agreement, consumers can apply directly for financing from Bank of America via a link on VMI’s website. The Bank of America financing program provides loans with terms of up to 72 months for acquisition of a new or select pre-owned VMI wheelchair-accessible van through one of VMI’s 200 dealer locations nationwide.

“With Bank of America’s support, VMI will help even more people regain their independence,” said Doug Eaton, president of VMI. “Customers with approved credit can now fast track delivery of their Toyota, Honda or Chrysler minivan with a VMI ramp conversion. This is a major step forward for the mobility industry and, most importantly, a tremendous victory for people with disabilities.” Approved applicants can use their loan to purchase a new or used wheelchair-accessible van at VMI dealerships anywhere in the United States.

“Our goal was to help VMI streamline the credit application process for those who need wheelchair accessible transportation,” said John Hyatt, president of Bank of America Dealer Financial Services. “We share VMI’s commitment to make it easier for these customers to pursue financing options for vehicles that can help transform their lives.”

The first step is for a customer to choose the right VMI Toyota, Honda or Chrysler wheelchair-accessible vehicle that matches their specific needs and budget. Then the customer navigates to Bank of America’s loan page, using the link on the VMI website, to complete the Direct Lending Application. Most approvals come within 15 minutes of application. Approved customers receive a call within one hour, with the option to speak with a loan officer for details and explanations. Additionally, using VMI’s website the customer can estimate their monthly payments by using the easy online calculator.

“A large percentage of wheelchair-accessible van purchases already involve financing, yet sources have primarily been limited to local or regional institutions,” said Tim Barone, VMI CFO and partner. “VMI has been seeking a relationship with a national lender to offer consumers new options, which led to this agreement. The Bank of America finance team took the time to really understand our business and consumer. They provided tools and resources beyond credit to help us enhance our processes and customer loyalty. We look forward to helping consumers leverage this exciting new finance option.”

Both a manufacturer and distributor, Vantage Mobility International offers a full line of products that includes domestic and import minivan conversions, full-size van conversions, platform lifts, scooter and wheelchair lifts and transfer seats.


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