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  Bank of America

Bank of America

in Auto Loan Refinancing from Bank of America

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Bank of America

Unaffiliated

in Auto Loan Refinancing from Bank of America

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Highlights
Highlights
Credit Score Range 580 - 850
APR (Fixed APR) Starting at 4.04%
Loan Term (Months) 12 - 60
Loan Amount $7,500 - $100,000

Bank of America Corporation

Bank of America is an auto loan refinance offering by Bank of America, a bank based in Charlotte, NC. Founded in 1784, Bank of America offers auto refinance loans in 50 states (and Washington, DC).

How much can you borrow via Bank of America?

Auto refinance loan amounts start at $7,500 and go up to $100,000.

What are the auto loan refinancing rates offered through Bank of America?

Bank of America offers a fixed APR auto loan refinancing product that ranges from 4.04% APR.

What is the maximum loan term you can get with Bank of America?

Bank of America offers auto refinancing with terms ranging from 12 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto refinancing loan, the more interest you will pay.

Does Bank of America charge an origination fee on auto refinance loans?

No, Bank of America does not charge a loan origination fee for refinancing an auto loan.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount.

Does Bank of America charge a late fee?

Yes, auto refinance loans via Bank of America are subject to late payment penalty fees.

Does Bank of America charge prepayment fees?

No, there is no prepayment penalty.

What are the key eligibility criteria for Bank of America auto loan refinancing?

Applicants with a credit score of at least 580 can apply for a loan via Bank of America. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

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

  • Driver's license
  • Proof of citizenship or residence permit
  • Recent pay stubs
  • Proof of income

What is the estimated funding time for an auto loan refinance with Bank of America?

Auto refinance loan applications are typically approved (or denied) within 1 hour and funded within 0 to 1 days of approval.
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Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee  
No Prepayment Fee  
Application Fee $0
Minimum Age 18
Credit Score Range 580 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Maximum Vehicle Age 10
Maximum Mileage 125,000
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Joint Loan Applications Accepted
  • Individual Applications
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Loan Amount $7.5K - $100K
Loan Term (Months) 12 - 60
APR (Fixed APR) Starting at 4.04%

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