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Auto loans to fit your needs. We're here to help.

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Our online application allows you to select term lengths of 48, 60, or 72 months; dependent on loan type and subject to collateral, terms and conditions. You can discuss other term lengths with your loan officer after your application is submitted.

View our Bank of America auto loan eligibility requirements for information about minimum amounts financed, applicant eligibility and more.

Rates as of April 17, 2024 for a 60-month term. More terms available.

Use our menu to view Preferred Rewards⁴ Tier rates.

Auto loans with APR as low as

Preferred Rewards Tier

Dealer New

Buying a new vehicle from a franchise dealership. Franchise dealers sell new and used cars for auto manufacturers such as Ford®, General Motors®, Chrysler®, Honda® and others

% ^†

Dealer New ¹

Dealer Used

Used cars can be sold by franchise dealers or independent dealers. Franchise dealers sell new cars for auto manufacturers such as Ford®, General Motors®, Honda® and others. Independent dealers are not affiliated with an auto manufacturer and may sell many different brands of vehicles. Bank of America does not finance vehicles purchased from independent dealers.

% ^†

Dealer Used ¹

Refinance

Paying off your existing loan with the proceeds from a new loan in order to take advantage of lower monthly payments, lower interest rates, or save on financing costs.

% ^†

Refinance ²

Lease Buyout

Buying your leased vehicle.

% ^†

Lease Buyout ³

Rates are unavailable right now. Please check back again later.

APR is the Annual Percentage Rate. Advertised "as low as" APRs assume excellent borrower credit history. Your actual APR may differ based on your credit history, approved loan amount, term, state of residence and applicable discount. No loan documentation fee, but title and state fees may apply. Any applicable discounts, such as Preferred Rewards, will be confirmed and reflected in the individual APR quote you will receive if you are approved for an auto loan.

Auto Loan Calculator⁵

Purchase

Refinance

Rates are unavailable right now. Please check back again later.

Loan Amount $ (value must be greater than $0)

The amount you wish to finance for your auto loan.

Not sure? Determine loan amount

Car Price (value must be greater than $0)

Car price required

Trade-in Value

A dealer assigns a trade-in value to an auto, boat or other vehicle that a buyer wishes to exchange for a replacement vehicle. Trade-in value, also called trade-in allowance, is subtracted from the purchase price of the vehicle. Trade-in value is often based on the published book value of the vehicle. As a general rule, a vehicle with less wear and tear has greater trade-in value.

Amount Owed on Trade-in $

The amount you still owe on the auto you plan to trade in.

Down Payment

A down payment is the cash you deposit toward the purchase of equipment or a commercial vehicle. The larger the down payment, the less you are required to borrow. For equipment loans, a down payment of 20% of the equipment purchase price is generally required. The value of a trade-in can be used instead of a down payment when purchasing replacement equipment.

Cash Rebate and incentives

Dealers may offer a cash rebate as an incentive to buy an auto, boat or other vehicle. A cash rebate reduces the purchase price by the amount of the rebate. Some credit card companies offer a cash rebate card as an incentive for cardholders to make new purchases. There is usually limit on how large a rebate the cardholder may receive in a year.

Loan type

The type of loan financing, such as Dealer New or Lease Buyout. Loan Types have different interest rates.

Loan term (value must be greater than 0 months)

The period of a loan, generally measured in months or years. Auto loans generally range between 4 and 6 years.

Interest rate %

The cost for the use of a loan, usually expressed as a percentage of the loan and paid over a specific period of time. The interest rate does not include fees charged for the loan.

Preferred Rewards

Preferred Rewards discount will be applied to your result. If you have entered custom values, reset calculator to enable Preferred Rewards.

Click to Reset calculator to Bank of America rates for interest rate and loan term.

Estimated monthly payment

$---

Term -- months

Interest Rate --% APR

Loan Amount $--,---

Preferred Rewards discount Not applied

Today's date August 24, 2023

Your current loan

Current Loan Balance ($)

The amount that you still owe on your existing auto loan.

Current monthly payment ($)

The amount paid each month toward the principal and interest amount of a loan.

Your current interest rate (%)

The cost for the use of a loan, usually expressed as a percentage of the loan and paid over a specific period of time. The interest rate does not include fees charged for the loan.

Your refinance loan

Refinance amount ($)

The amount you wish to finance for your auto loan.

Length of new loan (months)

The period of a loan, generally measured in years. Auto loans generally range between 4 and 6 years.

New loan interest rate %

The cost for the use of a loan, usually expressed as a percentage of the loan and paid over a specific period of time. The interest rate does not include fees charged for the loan.

Preferred Rewards

Preferred Rewards discount will be applied to your result. If you have entered custom values, reset calculator to enable Preferred Rewards.

Click to Reset calculator to Bank of America rates for interest rate and loan term.

Enter your loan information to see results.

Monthly payment comparison

Current loan 0/mo

New loan 0/mo

Difference 0/mo

Months remaining

Current loan 0 months

New loan 0 months

Difference 0 months

Interest to be paid

Current loan 0

New loan 0

Difference 0

Go to Tablist

Get all this with a Bank of America auto loan:

Financing made easy

Take advantage of competitive auto rates, quick decisions and our easy application.

30-day rate lock guarantee⁶

You'll have plenty of time to shop for that perfect vehicle.

Up to a 0.50% interest rate discount

Bank of America Preferred Rewards® members can receive an interest rate discount of up to 0.50% on an auto loan.⁴

Ready to get started?

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The following example(s) reflect representative credit terms made available to applicants and are for informational purposes only. They may not reflect the loan amount, term, APR and estimated payment for your loan.

New Car (Dealer):

† A 5-year, fixed-rate new car loan for $49,000 would have 60 monthly payments of $ each, at an annual percentage rate (APR) as low as %.

Used Car (Dealer):

† A 5-year, fixed-rate new car loan for $32,000 would have 60 monthly payments of $ each, at an annual percentage rate (APR) as low as %.

Refinance:

† A 5-year, fixed-rate new car loan for $ 29,000 would have 60 monthly payments of $ each, at an annual percentage rate (APR) as low as %.

Lease Buyout:

† A 5-year, fixed-rate new car loan for $ 26,000 would have 60 monthly payments of $ each, at an annual percentage rate (APR) as low as %.

1

Bank of America finances vehicles purchased from franchised dealers, electric vehicle only manufacturers, and many used vehicle only dealers. Franchised dealers such as Ford®, Toyota®, and Mercedes Benz® sell new and used vehicles for auto manufacturers. Electric vehicle-only manufacturers such as Tesla® and Rivian® sell vehicles directly to consumers. Used vehicle only dealers such as CarMax®, Enterprise Car Sales® and Carvana® are not affiliated with an auto manufacturer and sell a variety of vehicle brands.

2

Any reduction in monthly payment will be based on a number of factors including your current interest rate and term of payment vs. your Bank of America interest rate and term. Please note that refinancing may increase the total number of monthly payments and/or the total amount paid when compared to your current situation. Although your refinanced monthly payment may be lower, you should carefully consider the amount of any costs associated with refinancing such as any state taxes and titling fees as well as the potential increase in interest charges you may pay and the additional years needed to pay off your loan by refinancing. You should also consider whether refinancing may terminate any ancillary products included in the loan you are refinancing such as GAP insurance/waivers. Requests to cancel a loan will be processed as a loan payoff and require the outstanding loan balance to be paid in full including any accrued fees and interest.

3

Before considering a lease buyout loan, you should review your lease agreement for the terms and conditions under which the lease can be terminated if it hasn’t yet expired, particularly if there are any fees or expenses that may be due pursuant to the terms of the lease.

4

Preferred Rewards Program Eligibility. You can enroll, and maintain your membership, in the Bank of America Preferred Rewards® program if you have an active, eligible personal checking account with Bank of America® and maintain the balance required for one of the tiers. The balance tiers are $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 for the Platinum Honors tier, $1,000,000 for the Diamond tier and $10,000,000 for the Diamond Honors tier. Balances include your combined, qualifying Bank of America deposit accounts (such as checking, savings, certificate of deposit) and/or your Merrill investment accounts (such as Cash Management Accounts, 529 Plans). You can satisfy the combined balance requirement for enrollment with either: a three-month combined average daily balance in your qualifying deposit and investment accounts, or a current combined balance, provided that you enroll at the time you open your first eligible personal checking account and satisfy the balance requirement at the end of at least one day within 30 days of opening the account. Refer to your Personal Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits. Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise. Bank of America Private Bank clients qualify to enroll in the Diamond tier, and may qualify for the Diamond Honors tier based on their qualifying Bank of America, Merrill, and Private Bank balances. Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. For details on Bank of America employee qualification requirements, please call Employee Financial Services or refer to the Bank of America intranet site. Employees of companies participating in the Bank of America Employee Banking and Investing Program maintain eligibility based upon customized terms. Refer to go.bofa.com/cebi-faq for details.

Preferred Rewards members who apply for an Auto purchase or refinance loan receive an interest rate discount of 0.25% for Gold tier, 0.35% for Platinum tier, and 0.50% for Platinum Honors and higher based on their Preferred Rewards tier at the time of auto loan application. The maximum Preferred Rewards interest rate discount on a Bank of America auto loan is 0.50%. This interest rate discount is not reflected in all our published rates on our website but will be confirmed and reflected in the interest rate quoted upon loan approval. Discounts are only available on auto loan applications submitted by you directly to Bank of America through its website, Financial Centers, or Bank call centers. Discounts are not available for motor vehicle leases or for applications sourced from car dealerships, car manufacturers, or third-party branded/co-branded relationships. Benefit is non-transferable. Subject to credit approval. Standard underwriting guidelines and credit policies apply.

5

Important note about this calculator: The figures entered on the input page of this calculator are for hypothetical purposes only. You should enter figures that are appropriate to your individual situation. The results provided by this calculator are also intended for illustrative purposes only and accuracy is not guaranteed. Bank of America and its affiliates are not tax or legal advisers. This calculator is not intended to offer any tax, legal, financial or investment advice and does not assure the availability of or your eligibility for any specific product offered by Bank of America, its affiliates or any other institution, nor does this calculator predict or guarantee the actual results of any investment product. The terms and conditions of products offered by institutions will differ and may affect the results of the calculator. Please consult with qualified professionals to discuss your situation. The final APR may differ from the APR in the above results due to additional fees that may be applicable.

6

Rate is guaranteed for 30 days from the date of original application approval.

Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice.

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Auto loans to fit your needs. We're here to help.

Dealer New

Dealer Used

Refinance

Lease Buyout

Auto Loan Calculator5

Rates are unavailable right now. Please check back again later.

Estimated monthly payment

Get all this with a Bank of America auto loan:

Financing made easy

30-day rate lock guarantee6

Up to a 0.50% interest rate discount

Ready to get started?

New Car (Dealer):

Used Car (Dealer):

Refinance:

Lease Buyout:

Auto Loan Calculator⁵

30-day rate lock guarantee⁶