Auto Loans
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Last Updated: 04/18/2025
SuperMoney User Recommendation Score -90
Strongly not recommended21 total votes
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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 penalty 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. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.
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.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.
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users don't recommend this product, giving it a user recommendation score of -90, or 1.2 on a 5-point rating scale.
-90
-1000+100
No one recommends
Everyone recommends
Bank of America Auto Loan Community Reviews
Would you recommend Bank of America Auto Loan to your friends?
AV
Abe V.
Sep 29, 2021
May or may not recommend
Good luck with talking to their Customer Service. You have to wait for 30 plus minutes (my personal experience on several occasions). The agent I spoke with was unapologetic when I brought up the long wait times and did not seem interested in helping me resolve my issue with the APR on my approved auto loan. Her attitude was so condescending to the point where I have ...Show More
V D.
Aug 9, 2021
May or may not recommend
Loan officers and their manager (they. call escalation) is no where to be found. I am platinum honors client and service is rubbish. I have loan officer, app intake and managers name and number of attempts recorded and intend to file complaint to their chief relations officer to see if they have nerve to respond
Jen B.
Jan 20, 2021
May or may not recommend
I got approved twice. The first time they said I filled out the application wrong and to redo it, ok fine. In the second application we were doing great until they couldn't verify my address. An address at which I have lived for 6+ years, that's on my w2, drivers license, and best of all on file with BoA for my credit card. They said since they couldn't verify my ...Show More
DM
Dmytro M.
Jul 24, 2020
May or may not recommend
discriminatory bank. you would give a loan to somebody with a low credit score as long as it is over 7 years, buy you wouldn't give to an immigrant with a great score, but short credit length (4 years). Forget about getting my business. Immigrants and young people, stay away from this crappy bank. this is for old money, not for us.
U
Anonymous
Feb 23, 2020
May or may not recommend
Do not use Bank of America for an RV or vehicle loan! Bank of America made it incredibly difficult for me to set up automatic bill payment from my checking account. On February 22, I was transferred seven times (3 hours); I spoke to confused representatives across the United States. Below is a list of what I experienced:
1) Called 1800-432-1000--transferred
2) Spoke with Erica W. from the Hickory office—she transferred me to
3) Amanda ...Show More
RP
Ricky P.
Oct 15, 2019
May or may not recommend
My name is Ricky Parker auto loan xxx-xxxxxxx1893. I been with them for going on 3 years in May .I have not miss a 923,00 payment ever and I had to go off work for surgery om 10/07/17 and today is 10/14/19 . I am on Hydrocodone for pain I kept trying to explain how long I'm was going to be out, I would tell them and then they ...Show More
Russ G.
Sep 18, 2019
May or may not recommend
They made the process of buying a car from a small dealer impossible to the point of nearly single-handedly killing the deal. Poor communication. Delays. Non-responsive. After being a BofA customer for 16 years with an excellent credit record, somehow BofA auto loans made me feel like a sub-prime candidate who just got out of prison. 0 stars.
MS
Mrs S.
Aug 25, 2019
May or may not recommend
Absolutely horrible services. I’m very disappointed with their disorganization and lack of respect to their customers and this is the worst I ever been threatened as a customer. I have two Mercedes loan with Bank Of America auto loans. They reported me for not paying on time except I did and had the prove but it was July 3rd so I had to wait until July 5th and didn’t ...Show More
MP
Mary P.
Jun 29, 2019
May or may not recommend
Terrible terrible bank for car loans. They will "lose" the car title. Endless hours on the phone...do you want this to happen to you?
U
Anonymous
Jun 12, 2019
May or may not recommend
I hated it their customer service! Worst one ever. I don't know what's their problems, I'm not recommending their services and banking to anybody, 0 customer service Jennifer Rojas
U
Anonymous
Jun 5, 2019
May or may not recommend
I applied for their auto loan 2 weeks ago and got approved and everything seems went well. I was guaranteed a good rate with approved documents. Not until the day before picking up my car, I was notified that they cannot and will not honor the rate and increase that a lot. All happened within 2 weeks and the approved docs supposed to be valid for 30 days. Just to ...Show More
Michael B.
Dec 21, 2018
May or may not recommend
Worst bank ever ! Do not use them for your automotive loans ! I got behind 1 payment yes one and they call after 7pm at night asking about it only 2 weeks behind. Extremely condescending ! I'm looking to refinance with a different reputable lender . Should also
Joe A.
Aug 31, 2018
May or may not recommend
Horrible experience! Don't apply. Go somewhere else! I have a FICO > 750 and they pulled a credit report, approved me and then declined after speaking with me because the address on their files was my address in 2012. They would not go by the address on my 3 credit files!
U
Anonymous
Jun 14, 2018
May or may not recommend
Loan officers suck and don’t leave communication notes on your account no one knows what’s going. Ben Mendoza and Jenni were no help at all.
KP
Kimberly P.
May 4, 2017
May or may not recommend
I love Bank of Amercia!!! They approved me right away for a car loan.
Sent me am email/letter document that you take to the car dealership and pick out your vehicle, I was treated awesome, excellent customer service!! I highly reccomend
JM
Jeb M.
Jan 23, 2017
May or may not recommend
Not sure how you can possibly pay on an auto loan over a year without ever being late and be denied to defer one payment. Makes absolutely no sense when the bill is not due and I'm being alert before hand. I will surely be refinancing my loan to rid of dealing with stupidity and unprofessionalism of BOA operators.
U
Anonymous
Jun 10, 2016
May or may not recommend
Bank of America had my daughter's car towed without any advance notice that she had missed a couple of car payments. Why did she miss the car payments you might ask? Because she called Bank of America to set up automatic withdrawal from her account. Although Bank of America "confirmed" that this was set up, low and behold her car gets towed. When she called Bank ...Show More
U
Anonymous
Apr 20, 2016
May or may not recommend
Agreed to Fund Contract. Took Delivery of Vehicle, signed contract, and breached the agreement I went to purchase A BMW M5 from Lamborghini. Bank of America approved my deal. I signed the contract from the dealership who was absolutely fantastic. I took the vehicle home, showed my wife and my kids that I purchased the car for her for our 15th anniversary. I receive a call the next day to ...Show More
U
Anonymous
Apr 8, 2016
May or may not recommend
If you want the vehicle to be sold by the time you get your loan this is the place for you. I'm not sure how I can bank with an institution for 15 years however it takes 4 days to get an auto loan. Whereas I can go to a dealer and get approved in an hour. What a joke.
U
Anonymous
Feb 18, 2016
May or may not recommend
Horrible service and they took forever to get back to me.
Showing 20 of 21 reviews