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Bank of America Ruined My Credit |
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| Last payment options: You may pay the last scheduled payment on or before
its due date or have the option to either: (A) refinance the last scheduled
payment after giving us at least 30 days advance written notice of your
intent to exercise this option. This balance will be financed at the APR
indicated above (and in any event not exceed the maximum lawful rate) and
with the regularly monthly payments indicated above; or
(B) sell the vehicle to us(or at our option to our affiliate)and have the sale price applied to the last payment. The sale price will be the amount of the last payment less 1.) $350.00 disposition fee 2.) any mileage deduction (.15 per mile over 15,000 miles per year) and 3.) any amount for excess wear and tear. Amounts for excess wear and tear include the cost of the following: replace damaged or broken glass; repair body fenders, paint and other exterior parts, replace missing equipment with equipment of comparable quality, missing wheels or wheel covers, repair damage to the interior including stains, tears or broken parts, replace tires which are not part of a set, each of which has at least one eighth inch of tread at the shallowest point; restore to reasonable running condition, or any other cost to restore to salable condition. Additionally, you may sell the vehicle to us only if each of the following
conditions is met: 1.) You have given us at least 30 days advance written
notice of your intent to exercise this option; 2.) the vehicle is delivered
to a location specified by us on or before the due date of the last scheduled
payment together with all executed documents to transfer ownership of
the vehicle including current registration, title to the vehicle which
shows no lien other than our lien; 3.) you have paid all amounts owing
under this agreement except for the last scheduled payment; 4.) you have
serviced the vehicle as described by the manufacturer and participated
in all manufacturer recalls; and 5.) you have not altered the vehicle. If you deliver the vehicle to us in satisfaction of the last scheduled
payment, and meet each of the above conditions, we will bear the entire
risk of loss or benefit of gain if and when we dispose of the vehicle. |