Bank of America will finance Hertz’s used cars.
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The San Francisco-based bank said it has signed an agreement with Hertz Corp. to provide financing for used rental cars leased and sold in California. BancAmerica Acceptance Corp., a subsidiary of the bank, will become the primary financing vehicle for the 12,000 late-model used Hertz cars sold annually in the state. The firm will offer 100% financing, extended service arrangements, credit life insurance, tax, license and documentation fees.
