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Vehicle Loans Payment Assistance FAQs

What are the payment assistance requirements for consumer vehicle loans?

For a consumer auto, recreational vehicle (RV) or boat loan (personal use), Bank of America can offer you a two month extension if you acknowledge:

  • You’re requesting the maturity date of your loan account be extended by two months.
  • Your account will continue to accrue interest during the next two months. You may have an unpaid balance on your account even after all required installments have been paid due to this extension.
Will I receive vehicle loan payment assistance?

Consumers and small business clients who need assistance making credit card and loan payments can submit an online request for assistance through our Client Assistance Program (you’ll need access to Online Banking in order to do so). Please note there are eligibility requirements based on the status of the account requesting assistance.


The steps for requesting assistance are as follows:

  1. Submit an online request for assistance through our Client Assistance Program (once you sign in to Online Banking, the payment assistance form will be pre-filled with your information).
  2. Select the product(s) with which you need assistance.
  3. You'll immediately receive an email confirming we received your request.
  4. Once a decision has been made, we'll contact you by email.
Can I submit a payment extension on my vehicle loan account?

If you need additional assistance with your vehicle loan payment, you may be eligible for another payment extension.


  • Simply click the request payment assistance link and log into Online Banking.
  • Select the loan account product(s) you need assistance with.
  • Select the best option for you.
  • Once we receive your request and a decision has been made, we'll send you a confirmation letter in the mail.

Please note that requesting a payment extension or deferral of any kind may impact your ability to obtain credit from Bank of America now or in the future.

Can I submit my payment assistance request if I’m not enrolled in Online Banking?

If you don’t currently use Online Banking, we recommend you enroll in Online Banking and submit your request online so we can begin processing it for you as quickly as possible.


If you’re not a current Online Banking client and you’re unable to enroll, please contact Consumer Vehicle Servicing at (800) 215-6195.

When will I know if my request for payment assistance has been approved?

If your request is approved, we will send a confirmation of your agreement to extend your account via email and by U.S. Mail at the mailing address you have on file with us (please contact us if you have not received this letter within 14 days). Your next scheduled payment will be reflected in the monthly account statement following the approval of your request.


If you need additional assistance, please contact us to discuss your options.

Am I allowed to submit payment deferral requests for multiple accounts (for example, vehicle loan and mortgage)?

Yes. Your accounts will be listed in the payment assistance portal in Online Banking. You may select multiple accounts to submit a payment assistance request.

What are the payment assistance requirements for a Business Advantage Auto Loan?

Bank of America can offer you a three month extension if you acknowledge:

  • You’re requesting the maturity date of your loan account be extended by three months.
  • Your account will continue to accrue interest during the next three months. You may have an unpaid balance on your account even after all required installments have been paid due to this extension.
If I have a Business Advantage Auto Loan, what are the qualifications to apply for Paycheck Protection Program?

To apply for a Paycheck Protection Program Loan through Bank of America, clients must have an existing Small Business relationship with one of the following:

  • Small business checking account open no later than 02/15/2020
  • Small business lending relationship, inclusive of credit card, open no later than 02/15/2020
  • Small Business Online Banking Online ID and passcode

Note: Refer to the Paycheck Protection Program for more information.

When does the payment assistance start?

If you’re approved for vehicle loan payment assistance, it will begin with your current month’s payment.

What do I do if my vehicle loan payments are made automatically?
  • For Bill Pay or transfers through your Bank of America checking or savings account, you’ll need to use Online Banking or the mobile app to cancel those payments, otherwise they will continue to be processed.
  • For auto draft or bill pay from any other financial institution or bill pay service, you will need to contact that provider to cancel payments, otherwise, they will continue to be processed.
  • If you're currently enrolled in a Bank of America automated pay plan, you don’t need to take action. We won’t debit any deferred payments. Once the postponement period has ended, we’ll resume your automated payments.
Will deferring or postponing my vehicle loan payments affect my credit score?

We won’t report your account as delinquent while you are on a payment assistance plan.

Where should I go to contact you for vehicle loan payment assistance or for information on other bank support programs?

Clients facing financial hardships related to Coronavirus are encouraged to visit our Client Resources website and contact the client services team for assistance. Please have patience with us since our wait times may be longer than usual.


General questions can also be answered by asking ERICA, our virtual assistant in our Mobile Banking app, or by searching in Online Banking.