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Last Updated: 04/18/2025

Bank of America Auto Loan

in Auto Loans from Bank of America

Last Updated: 04/18/2025

Strongly not recommended21 total votes

1 users recommend

20 users don't recommend

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Highlights

Community Rating

Strongly not recommended

Amount Range

$7,500 - $100,000

APR (Fixed APR)

N/A

Credit Score Range

N/A

Loan Term (Months)

N/A

Number of Reviews

Bank of America Auto Loan Review

Bank of America Auto Loan is offered by Bank of America, a bank founded in 1784 and based in Charlotte, NC. Bank of America auto loan are available in 50 states and Washington, DC.

Bank of America auto loan FAQ

How much can you borrow via Bank of America auto loan?

Bank of America auto loan loan amounts start at $7,500 and go up to $100,000.

What APR does Bank of America auto loan offer on its car loans?

Bank of America auto loan offers a fixed apr car loan product but they do not disclose their rates.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

Does Bank of America auto loan charge an origination fee?

Yes, Bank of America auto loan may charge a loan origination fee .

Does Bank of America auto loan charge a late fee?

Yes, Bank of America auto loan charges borrowers with a late payment penatly fee

Does Bank of America auto loan charge prepayment fees?

No, Bank of America auto loan will not charge you a fee for paying your loan early. Whenever possible choose lenders like Bank of America auto loan that don't charge a prepayment fee. These fees can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my Bank of America auto loan loan?

Yes, you can. Bank of America auto loan does not charge a prepayment fee, so you can save money by paying your car loan early.

What do you need to qualify for Bank of America Auto Loan?

Bank of America Auto Loan does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Bank of America Auto Loan does not have or does not disclose a minimum annual income eligibility requirement.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Bank of America Auto Loan.

To qualify, applicants may need to provide the following documentation:

Recent pay stubs
Driver's license or other government photo ID
Proof of citizenship or residence permit

What is the estimated funding time for a car loan via Bank of America auto loan?

Bank of America auto loan will typically fund the car loan within 1 business day of approval.

Does Bank of America Auto Loan report your account activity to credit bureaus?

Yes, Bank of America Auto Loan reports to the following credit bureaus:

Equifax
Experian
TransUnion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.

Does Bank of America perform a hard credit pull?

Yes, Bank of America auto loan performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.

Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.

Is Bank of America a legit company?

Bank of America was founded in 1784, it is a well-established company that has been in business for 242 years. Bank of America Auto Loan is strongly not recommended by SuperMoney community users.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message from Bank of America auto loan

Purchasing a car typically means taking out a car loan. If you’re in the market for a new vehicle, you’ve probably spent a lot of time researching car options, but do you have a good understanding of how car loans work? When you take out a car loan from a financial institution, you receive your money in a lump sum, then pay it back (plus interest) over time. How much you borrow, how much time you take to pay it back and your interest rate all affect the size of your monthly payment.

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100 North Tryon Street

Charlotte, NC 28255

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