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Major Auto Lender Just Ended Vehicle Loans (BMO Bank)BMO offers Automatic Loan Payments as a convenient service that can help simplify paying your BMO loan. Once you provide your written authorization. Bank of Montreal will no longer originate indirect auto loans, the bank announced Saturday. The bank has operated its indirect auto loan business. Get the money you need to claim the vehicle you want. BMO vehicle loans work for new and used cars, along with boats, RVs, and motorcycles.