If approved, you receive an Approval Code . Take this code to the authorized dealer to retrieve your information and finalize the purchase.
Users can search local dealer inventory directly through the Bank of America Car Shopping tool to find new or used vehicles that fit their budget. bank of america auto buying program
Members of the Preferred Rewards program may qualify for interest rate discounts ranging from 0.25% to 0.50% , depending on their reward tier. How the Process Works If approved, you receive an Approval Code
Existing customers with a Bank of America login can prequalify online in minutes with no impact to their credit score . This provides an estimate of the loan amount and terms they may qualify for. Members of the Preferred Rewards program may qualify
The dealer handles the final paperwork, and you can drive off with your new vehicle. Loan Terms and Eligibility Minimum Loan Amount $7,500 (may vary by state; e.g., $8,000 in Minnesota) Loan Terms Typically 48, 60, or 72 months Vehicle Age Limit Generally 10 calendar years or newer Mileage Limit 125,000 miles or less Vehicle Value Minimum value of $6,000 required
Complete a no-fee online application. Many applicants receive a credit decision in as little as 60 seconds.