Perks: Bank of America will finance a minimum of $7,500 ($8,000 in Minnesota) and requires that the car be no more than 10 years old, with no more than 125,000 miles and valued at no less than. Auto loan preferred interest rate discount of 0.25% to 0.50% is based on reward tier and valid only for enrolled Preferred Rewards members or Preferred Rewards for Wealth Management clients at the time of auto loan application who obtain a Bank of America auto purchase or refinance loan.
Bank of America’s decision to get into auto loans is strange to say the least, because after a big boom in car-buying after the recession (during which Bank of America didn’t offer car loans), sales of new cars have started to slow down. This image from Reuters shows the slowdown – as well as the increasing number of past due loans out in.
Bank of america car auto loans. 1 Bank of America works with thousands of automobile dealerships across the country to assist our customers with the financing of their new and used vehicles. Bank of America is not affiliated with these dealerships and does not require any particular dealership for your vehicle buying experience. Consequently, Bank of America makes no warranties and representations and is not otherwise. 1 Bank of America works with thousands of automobile dealerships across the country to assist our customers with the financing of their new and used vehicles. Bank of America is not affiliated with these dealerships and does not require any particular dealership for your vehicle buying experience. Consequently, Bank of America makes no warranties and representations and is not otherwise. To be eligible for an auto loan through Bank of America, you must be either a U.S. citizen or resident alien (permanent or non-permanent), and also 18 years old or otherwise be allowed to legally arrange auto finance in your state of residence. Car loans are available from the Bank of America in all 50 states and the District of Columbia.
Bank of America Car Loan Rates and Terms. Bank of America auto loan rates for the best applicants currently start at 3.69 percent over 60 months for new cars purchased through a dealer. Rates for used cars currently start at 3.89 percent. Bank of America doesn’t provide loans for vehicles purchased from independent dealers other than CarMax. Bank of America Auto Loans. Due to its variety of financing options, Bank of America may be a good fit for many car shoppers. Whether you’re currently in a car lease that you’d like to buy out, looking to buy a vehicle from a private third party, or looking for a new or used vehicle, Bank of America can help you finance your auto needs. Legal Information and Disclosures. View our Bank of America Auto loans Eligibility Requirements and Conditions Opens pop up window on this page † New Car (Dealer): Example: A 5-year, fixed-rate new car loan for $ 37,000 would have 60 monthly payments of $ 692 each, at an annual percentage rate (APR) of 3.54 %. ↩ † Used Car (Dealer): Example: A 5-year, fixed-rate used car loan for.
A Bank of America auto loan could be a strong option if you’re a Preferred Rewards client with the bank or can qualify for the bank’s competitive interest rates. But Bank of America doesn’t offer the ability to get prequalified to view estimated rates, and the lender is selective about which dealerships you can buy from. Bank of America has auto loans for a wide range of cars and refinancing. You can borrow anywhere from $5,000* to $100,000, and for borrowers with good to excellent credit, you may see your APR as low as 2.69%. The Bank of America auto loans we’ve described don’t apply to business vehicles or specialty vehicles, such as motorcycles, RVs, boats and aircraft Vehicles have to be worth $6,000+, be 10 years old or younger and have 125,000 miles or less.
A loan agent is a fairly popular vacancy in the midst of banks' vigorous activity in lending to the population. Its task is the sale of bank loan products: loans or credit cards. A loan agent is a usual intermediary between a credit institution and the population, to some extent a broker. If you are a holder of the bank`s personal checking account, a 0.15% APR discount is placed on your auto loans or auto refinances. To be eligible for the 0.25% discount on auto loans, you need have a Bank of America personal checking account and an average of $20,000 for a 3 –month period. Bank of America: At a glance. Loan amounts starting at $7,500; Terms between 12; and 75. months; Bank of America offers a wide variety of loans, but its loans aren’t available for specialty vehicles such as motorcycles or RVs. Financing is available to residents of all 50 U.S. states who borrow a minimum of $7,500 ($8,000 in Minnesota), but it can’t be used to buy cars that are over 10.
Bank of America does not finance vehicles purchased from independent dealers other than CarMax ®, Hertz Car Sales ®, Enterprise Car Sales and Carvana. If you are purchasing from a private party: The seller(s) must be the same as the registered owner(s) listed on the vehicle title. Bank of America auto loans are available nationwide, and they’re attractive for their low, competitive rates. You can also enjoy flexible terms and few restrictions. Read on to learn more about Bank of America car loans: the perks, the potential drawbacks, and the interest rates you may see. Whether you're thinking about bank or dealer financing for your next car, it's best to know your options before the test drive. Understand the pros and cons of getting a car loan through the dealer vs. the bank so you can make an informed decision.
Please find below car loans offered by Bank of America. A discount of 0.25% to 0.50% is valid only for customers who are enrolled in Preferred Rewards or Banking Rewards for Wealth Management at the time of auto loan application and who obtain a Bank of America auto purchase or refinance loan. A. Bank of America Auto Loans – Read unbiased reviews of Bank of America Auto Loans, rated 2.5 out of 5 stars by 177 users New and used car loans; New auto loan terms from 36-72 months for 2018 & newer models; Used auto loan terms from 36-60 months for 2012-2018; Auto loan amounts from $2,500 to $100,000; Boat loan terms offered up to 180 months from $5,000 to $500,000; RV loan terms offered up to 180 months from $5,000-$250,000
Bank of America Offers: Auto Loan. Bank of America is one of the most reputable and trustworthy companies in the USA that offers loans of the most diverse types. Car loans are approved to be top beneficial and profitable. Thus, browse the website of the company to get more details about the offers available. You can use a Bank of America auto loan to purchase a car from a private individual, or to refinance an auto loan you already have. Bank of America auto loans are available in all 50 states, and interest rates vary depending on the type of loan you apply for. As of this writing, starting APRs are as follows: Dealer new: starting at 3.54% APR Bank of America Auto Loan is STRONGLY NOT RECOMMENDED based on 20 reviews. Auto loans of up to $100,000 available in 50 states with rates starting at 3.39% and no prepayment fees. Learn more…
The total amount you wish to finance for your auto loan (for example, the price of the car plus taxes and fees and minus any down payment or trade-in value). Bank of America auto loans range from a minimum of $7,500 ($8,000 in MN) to a maximum of $100,000.