Bank of America Auto Loans review


Personal loan with low interest rates, designed so that you can finance the purchase of a new or used car, either from an official seller or a private one. You can also refinance your current loan and get better conditions, or finance the acquisition of your rented car with the option to purchase (renting).

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APR: 6.39%
Interest: 6.39%
Loan commissions
Study commission: Consult
Opening commission: Consult
Commission for advance payment: $ 0
Loan limits
Minimum amount: $ 7,500
Maximum amount: $ 100,000
Minimum of months: 48
Maximum of months: 72

Auto Loans Info

Bank of America auto loansBank of America Auto Loan gives you the opportunity to acquire the vehicle you need at a very low interest in any of the 50 states of the United States of America, as well as in the District of Columbia.

With this credit, you can obtain up to $100,000 to buy a new or used vehicle at a car dealer or at a private seller who offers you their vehicle.

You can get very low interest rates, starting at 6.39% APR, which you can lower to 0.50% with the Preferred Rewards program. In addition, you can return the amount you want in advance without paying any penalty.

You can do an online simulation on the bank's website and submit the application online. The term can range from 48 to 72 months.

You can also refinance your current car loan so that Bank of America offers you better conditions and a lower interest rate than the one you currently have.

What requirements must the vehicle meet?

To purchase a car with the Bank of America auto loans, the vehicle must meet the following requirements:

  • It must be less than 10 years old.
  • Must not exceed 125,000 miles.
  • Must be valued at least $6,000.
  • It must be for private, non-commercial or business use.
  • Motorcycles, recreational vehicles, boats and airplanes cannot be financed.

Other interesting auto loans

With Busconómico you can compare products from many banks and financial institutions in the United States. In this case, there are many auto loans that may interest you, such as the Chase Bank Auto loan or the one offered by Capital One.

En español: Préstamo para automóviles de Bank of America