Bank of America Auto Loans: Trusted Financing for Every Driver

Learn how to get approved for a Bank of America auto loans, boost your credit profile, and access Preferred Rewards APR discounts.

 Competitive rates, flexible terms, and exclusive member discounts through Preferred Rewards.

Drive Smarter with Bank of America Auto Loans

Whether you’re buying a new car, a certified pre-owned model, or refinancing your current vehicle, Bank of America (BofA) offers one of the most trusted and transparent auto financing programs in the United States. With rates starting as low as 5.99% APR for well-qualified borrowers and flexible terms up to 72 months, BofA continues to be a top choice for both first-time buyers and seasoned drivers (bankofamerica.com).

As of November 2025, Bank of America provides auto loans in all 50 states, including purchase and refinance options. Existing BofA customers enrolled in the Preferred Rewards program can save up to 0.50% off their APR, depending on tier level (forbes.com).

Why Choose Bank of America Auto Financing?

• Low APRs from 5.99% for new and used vehicles (verified Nov 2025)
• Loan terms from 48 to 72 months
• Online prequalification with no impact on credit score
• 0.25% – 0.50% APR discounts for Preferred Rewards members
• No application fees or prepayment penalties
• Financing available for dealership and private-party purchases

Unlike many lenders, Bank of America allows borrowers to finance vehicles purchased from private sellers, giving customers greater flexibility when shopping for used cars. All loans can be managed easily online or via the Bank of America mobile app.

Auto Loan Options

Loan Type	Ideal For	Term Range	Starting APR *
New Car Loan	Buyers of 2024–2025 models	48 – 72 months	From 5.99% APR (bankofamerica.com)
Used Car Loan	Pre-owned vehicles (up to 10 years)	48 – 72 months	From 6.29% APR
Auto Refinance	Lowering existing rates or payments	48 – 72 months	From 6.19% APR

Rates verified November 2025 via Bank of America and NerdWallet auto loan rate tables.

Real Example: Save Thousands with a Refinance

Suppose you refinance a $28,000 auto loan from another lender at 10.5% APR over 72 months. Switching to Bank of America at 6.19% APR could reduce your monthly payment

Transparency & Ease of Use

Every BofA auto loan includes full APR and payment disclosures before signing. Borrowers can apply 100% online, upload doc

Want to see how to qualify for Bank of America’s lowest auto loan rates and member discounts? Continue to Page 2 for credit requirements, approval strategies, and expert tips to maximize your savings with Bank of America.

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