Your final loan interest rate and APR may be different from what you see on the Bank of America.com website.
- The annual percentage rates (APRs) on the internet are “as low as” rates/APRs. Actual APRs may vary based on, among other factors, the vehicle you choose, approved loan amount and your state of residence and are subject to change.
- The APR you will see after submitting the application is the APR based on the information received on your application, purchase type and your individual credit history and may include discounts depending on your eligibility.
- APR is the total cost of credit to you, expressed as an annual percentage rate on the amount of credit provided. Your final APR may differ from your loan interest rate due to additional fees (such as a loan documentation fee) which may be applicable.
- Your relationship with Bank of America may entitle you to rate discounts. These discounts are applied to your application up to a maximum allowed discount amount and are subject to change at any time.
Assume you will borrow $19,800 and there is a $200 loan documentation fee for a total loan of $20,000. The calculated APR on a 5-year loan with an interest rate of 2.99% would be 3.39% with monthly payments of $359.28.