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APR is the annual percentage rate.
Advertised as low as APRs assume excellent borrower credit history. Your actual APR may differ based on your credit history, approved loan amount, term, state of residence and applicable discounts. No loan documentation fee, but title and state fees may apply.
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Get a great auto loan rate on new, used or refinanced vehicles.
Receive a decision in minutes. Loan approval good for up to 30 days.
Manage your auto loan with Online Banking. Plus, as a Bank of America customer you can view all accounts with one login.
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Eligibility Requirements and Conditions
1 APR is the annual percentage rate. Advertised as low as APRs assume excellent borrower credit history. Your actual APR may differ based on your credit history, approved loan amount, term, state of residence and applicable discounts. Any applicable discounts, such as Preferred Rewards, will be reflected in the individual APR quote you will receive if you are approved for an auto loan. No loan documentation fee, but title and state fees may apply. Requests to cancel a loan will be processed as a loan payoff and require the outstanding loan balance to be paid in full including any accrued fees and interest.
2 Franchise dealers sell new and used cars for auto manufacturers such as Ford ®, General Motors ®, Chrysler ®, Honda ® and others. Independent dealers are not affiliated with an auto manufacturer and may sell many different brands of vehicles. Bank of America does not normally finance vehicles purchased from independent dealers. The general exceptions to this are CarMax ®, Hertz Car Sales and Enterprise Car Sales. All authorized dealers can be found using the dealer locator tool.
Approval valid for 30 days from the date of original approval.
† Loan example: A 5-year, fixed-rate loan for a $25,000 new car (including state taxes, fees, tag, title and any purchased service/insurance products), with 20% down, requires a $20,000 loan. Based on a simple interest rate of 2.69%, this loan would have 60 monthly payments of $356.63 each and an annual percentage rate (APR) of 2.69%.
Approved loan amount
The following additional disclosures apply:
Credit subject to approval.
State & title fees may apply.
Assumes auto is new or less than one year old.
Interest rates assume excellent borrower credit history.
Rates and payment amounts will vary by state, collateral type and loan to value ratio.
Rates and terms are subject to change without notice.
Your final loan interest rate and APR may be different from what you see on the Bank of America.com website.
The annual percentage rates (APRs) on the internet are “as low as” rates/APRs. Actual APRs may vary based on, among other factors, the vehicle you choose, approved loan amount and your state of residence, and are subject to change.
The APR you will see after submitting the application is the APR based on the information received on your application, purchase type and your individual credit history, and may include discounts depending on your eligibility.
APR is the total cost of credit to you, expressed as an annual percentage rate on the amount of credit provided. Your final APR may differ from your loan interest rate due to additional fees (such as state & title fees) which may be applicable.
Your relationship with Bank of America may entitle you to rate discounts. These discounts are applied to your application up to a maximum allowed discount amount and are subject to change at any time.
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