Discover the Exciting World of Bank of America Car Loans! 

Learn more about the new, used, refinance, and lease buyout automobile loan options offered by Bank of America. Savor favorable terms and rates that are appropriate for your financial needs

With low rates, quick approvals, and a streamlined application process, auto financing is a breeze with Bank of America. We can help you with refinancing as well as new and secondhand purchases 

Benefits accrue to Preferred Rewards members at the Gold, Platinum, Diamond, and Diamond Honors tiers. Your Bank of America and Merrill investment account balances determine your rewards

With Preferred Rewards Tiers, Unlock Savings 

Members of Preferred Rewards are eligible for special vehicle loan discounts. Interest rate savings of up to half a percent are available to members who apply through Bank of America

Special Savings on Auto Loans for Members

Quick Look at Auto Loan Rates for 2024

Competitive rates for 2024: 6.49% APR for used cars, 6.09% APR for new cars from dealers, 7.39% APR for refinancing, and 6.09% APR for lease buyouts. Members of Preferred Rewards receive discounted prices

Reasons Why You Should Use Bank of America

Quick decisions, low rates, a 30-day rate lock guarantee, and unique Preferred Rewards discounts are all yours. 

Easy Prequalification Process

Get pre-approved for a car loan with a quick and easy credit check that won't impact your score. Find out how much and at what interest rate you qualify for; keep in mind that this is not a loan application

Refinancing and Lease Buyout Options

Refinance your vehicle with Bank of America to get better terms, or choose a lease buyout. Make an educated choice by using our refinance calculator and taking into account your car's age, mileage, and loan amount

Connect and Calculate with Ease

For new queries, call 844.892.6002; for existing clients, call 800.215.6195. To determine your payment amount and choose the best financial option for your circumstances, use our vehicle loan calculator

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