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Drive home with a low-rate auto loan

Lock in a low auto loan rate, shop for your next car, or do both.

Auto Loan Rates with APR as low as

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.

%
Up to 60 months

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.

%
Up to 60 months

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.

%
Up to 60 months

Buying your leased vehicle.

%
Up to 60 months

Private party

%
Up to 60 months

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 discounts. No loan documentation fee, but title and state fees may apply. Any applicable discounts, such as Preferred Rewards, will be reflected in the individual APR quote you will receive if you are approved for a loan.

Your final loan interest rate and APR may be different from what you see displayed here.

  • The Annual Percentage Rates (APRs) on the Internet are "As Low As" APRs. Actual APRs may vary based on, among other factors, the vehicle you choose 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.

What you get:

Low rates

Get a low rate when you purchase or refinance.

Calculate your payment

Digital Car
Shopping2

Use our digital car shopping resource to find and finance your next car all in one place.

30-day rate
lock guarantee3

Your rate is good for 30 days, which means you’ll have plenty of time to shop for that perfect vehicle.

Interest rate
discount

Bank of America clients may be eligible for a Preferred Rewards discount.4

See how easy finding
and financing a car can be

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Watch

Start a new adventure

Use our digital car shopping resource and finance your next car all in one place.

Calculator

Get your low-rate today

To see if you qualify, fill out our online application. There’s no fee and most decisions take about 60 seconds.

View our Bank of America Auto loans Eligibility Requirements and Conditions

New Car (Dealer):

Example: A 5-year, fixed-rate new car loan for $37,000 would have 60 monthly payments of $688 each, at annual percentage rate (APR) of 3.29%.

Used Car (Dealer):

Example: A 5-year, fixed-rate used car loan for $25,000 would have 60 monthly payments of $461 each, at an annual percentage rate (APR) of 3.99%.

Refinance:

Example: A 5-year, fixed-rate refinance loan for $23,000 would have 60 monthly payments of $426 each, at an annual percentage rate (APR) of 4.19%.

Lease Buy-out:

Example: A 5-year, fixed-rate lease buy-out loan for $21,000 would have 60 monthly payments of $375 each, at an annual percentage rate (APR) of 4.69%.

Private Party:

Example: A 5 year, fixed-rate private party loan for $20,000 would have 60 monthly payments of $347.91 each, at an annual percentage rate (APR) of 5.99%.


1 Franchise dealers sell new and used cars for auto manufacturers such as Ford®, General Motors®, Chrysler®, 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 other than CarMax®, Hertz Car Sales®, Enterprise Car Sales and Carvana. All authorized dealers can be found using the dealer locator tool.

2 Vehicle financing provided by Bank of America. Credit and collateral are subject to approval. Terms and conditions apply. Automobile shopping content provided by automobile dealerships through a website provided by a third party not affiliated with Bank of America and is not available in all states. Bank of America is not responsible for any automobile content, products or services.

3 Rate valid for 30 days from the date of original application submission.

4 Auto loan preferred interest rate discount of 0.25% to 0.50% is based on reward tier and valid only for enrolled Preferred Rewards members or Preferred Rewards for Wealth Management clients at the time of auto loan application who obtain a Bank of America auto purchase or refinance loan. The maximum preferred interest rate discount on a Bank of America auto loan is 0.50%. This preferred interest rate discount is not reflected in our published rates on our website but will be reflected in the interest rate quoted upon loan approval. Discounts are only available on auto loan applications submitted by you to Bank of America and not applications submitted through dealerships. Benefit is non-transferable. Subject to credit approval. Standard underwriting guidelines and credit policies apply.

* 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.

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Husband: Hey Hun?

Music Starts

Wife: Yea?

Husband: How’ Tuesday to go look at cars?

Wife: Ugh, Tuesday’s bad, how’s Wednesday?

Husband: Wednesday’s tough, Thursday?

Wife: I can get a couple of hours free Friday.

Husband: Hmm, I think we’ll need a whole day.

VO: Take the stress out of buying your next car and shop from the comfort of your own home

VO: Bank of America works with car dealerships to bring you an easier

VO: car shopping and financing experience.

VO: Compare cars, features and prices from multiple dealerships in your area.

Wife: What do you think?

Husband: I like it, do you like that car?

Wife: I love it

VO: Just select a car, if you have a car your trading in

VO: enter its trade in value, and down payment amount, and you will be provided with a monthly payment estimate.

VO: Apply for a low rate auto loan and get a decision

VO: on most applications in about 60 seconds.

Husband: That’s it? We’re approved?
Wife: That’s awesome!

VO: The dealership you selected will call you

VO: to schedule a test drive. Just think

VO: you’ll have the car picked out and the financing all set before ever walking into a showroom

Wife: How about Saturday noon?

Salesman: That’s perfect, see you then.

Wife: Great.

VO: Our 30-day rate lot guarantee gives you time to make the right decision.

Wife: Hi.

Husband: Hey, hey.

Wife: Sorry.

Husband: that’s my wife.

VO: And just in case,

Wife: This car is not going to work for us.

Husband: But I thought this was the one we wanted.

VO: you can change your mind at any time,

VO: there is zero obligation.

Husband: What, what?

Husband and wife giggling.

Husband: Uh we are going to need a bigger car.

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VO: Shop for your next car and apply for a loan today

VO: at Bank of America,com forward slash car shopping.

Music fades out

Take the worry out of financing by purchasing your next car through Bank of America's dealer network. Once you've been approved via our online application, our phone support team will help you get an approved dealer letter to take to any one of our dealerships.

  • Having an approved loan allows you to negotiate with dealers on what really matters – the price of the car.
  • Getting approved is easy with our 3-step loan process and will save you time at the dealer

Locate a Bank of America authorized dealer near you.

Go - Continue to locator page after entering a zip code.