Bank of America Auto Loans
Bank of America provides financing for new and used cars with rates starting at 5.49% APR and flexible loan terms up to 75 months.
Last checked on July 23, 2026. We may earn a commission when you click through.
Bank of America Auto Loans
Updated 2 months agoAPR Range
5.49–17.99%
Amount
$7.5k–$100k
Term
12–75 months
Type
car_finance
You'll be redirected to bankofamerica.com
Our Verdict
Bank of America offers a solid option for car loans with competitive rates and easy online application processes.
Best For
This lender is best for those with good credit looking for a reliable and quick auto loan solution.
Watch Out
Be mindful of the higher end of the APR range, which can reach up to 17.99%, potentially making loans expensive if your credit score isn't strong.
Pros
- Flexible loan amounts from $7,500 to $100,000
- quick approval process
- Competitive starting APR at 5.49%
- Relationship discounts for existing customers
- Easy online application
Cons
- Higher APR can reach up to 17.99%
- Customer service may vary in quality
- Limited benefits for first-time borrowers
- Not ideal for those with poor credit
- Potential for hidden fees not clearly stated
Full Review
If you're in the market for an auto loan, Bank of America offers loans ranging from $7,500 to $100,000 with terms between 12 to 75 months. Their APR starts at 5.49% for those with good credit, but can escalate to 17.99%, making it essential to shop around. The company promises quick approval, which can be a significant advantage for urgent purchases.
The online application is straightforward, appealing to tech-savvy borrowers. However, some customers have reported less-than-stellar customer service experiences, which could impact your loan journey. Unlike some competitors such as LightStream, who are known for quick funding and top-tier support, Bank of America’s customer service might not meet all expectations.
Additionally, while the relationship discounts can provide savings for existing Bank of America customers, new borrowers may not benefit as much. We recommend comparing their rates and terms with other lenders like Capital One or Chase to ensure you're getting the best deal available for your situation. Check out their offerings on Bank of America's auto loans page.
Who Is This For?
This loan is for individuals with good credit seeking a reliable financing option for purchasing a vehicle.
What Borrowers Say
Customer reviews indicate mixed experiences, especially regarding customer service, though many appreciate the quick approval process.
Summary
Bank of America Auto Loans are a viable option for good credit borrowers, but it's crucial to compare rates to ensure the best deal.
About This Loan
Requirements
- US resident
- Aged 18+
- Good credit
Similar options
myAutoloan Auto Loan
AutoAPR
3.99–24.99%
Amount
$8k–$100k
Term
24–84mo
Best for: Individuals with good credit looking for on auto loans between $8,000 and $100,000.
Autopay Auto Loans
AutoAPR
4.67–21.99%
Amount
$5k–$100k
Term
24–84mo
Best for: This service is best for borrowers with a minimum credit score of 580 who are looking to refinance their auto loans and save money.
APR
6.49–25.39%
Amount
$5k–$100k
Term
24–84mo
Best for: This service is best for borrowers with good credit looking for no-fee, low-interest auto loans ranging from $5,000 to $100,000.
APR
5.49–19.99%
Amount
$5k–$100k
Term
12–72mo
Best for: These loans are best for borrowers with good credit who want quick access to funds for purchasing a vehicle.
CarMax Auto Finance
AutoAPR
5.49–27.99%
Amount
$2k–$75k
Term
36–72mo
Best for: This service is best for those looking to finance a used car purchase conveniently through CarMax's extensive inventory.
APR
3.89–18.24%
Amount
$250–$100k
Term
12–96mo
Best for: This loan is best for military personnel and their families who are looking for low-interest rates on vehicle financing.