If approved, you receive an Approval Code . Take this code to the authorized dealer to retrieve your information and finalize the purchase.
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.
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
Shop for a Car and Financing in One Place at Bank of America
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 If approved, you receive an Approval Code
Complete a no-fee online application. Many applicants receive a credit decision in as little as 60 seconds.
The is a digital platform designed to streamline the car-buying process by combining vehicle search tools with direct financing options. It allows users to browse over one million vehicles from a nationwide network of authorized dealerships, calculate potential payments, and secure a 30-day rate lock before visiting a dealer. Key Features of the Program This provides an estimate of the loan amount
Once approved, your interest rate is guaranteed for 30 days, giving you time to finalize your vehicle choice without worrying about rate fluctuations.