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Auto Loan Rates

Auto Loan Rates

With a Bank of America auto loan, you’ll get:

Competitive rate

Apply for a competitive rate on a new or used dealer purchase loan or refinance your existing loan.

Quick decision

With our no-fee application, you’ll quickly know your rate before you go to the dealer.

30-day rate lock guarantee Footnote 2

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

Interest rate discount

Bank of America customers may be eligible for a Preferred Rewards discount of 0.25% to 0.50% Footnote 3.

The Preferred Rewards program is our way of rewarding you for what you already do, members can get an interest rate discount Footnote 3 of


Gold Tier


Platinum Tier


Platinum Honors Tier and higher

Your auto loan made easy

  • Apply online

    There's no fee — most decisions take about 60 seconds.

    Apply Now

  • Lock in your rate

    Apply early so you know how much car you can afford. Your 30-day rate lock Footnote 2 gives you plenty of time to shop.

  • Close the deal

    With your approved rate in hand, you’ll be ready to complete your refinance or go find your new ride!

Once you apply you can check application status, upload and download loan documents online using our check status tool .

A streamlined purchase experience

with our network of authorized dealers Footnote 4

Find nearby dealers

Save time by purchasing your next vehicle at a Bank of America authorized dealer. If you're approved, you'll receive an Approval Code that lets authorized dealers quickly retrieve your information and streamline your purchase.

Auto loan basics

Your car payment covers more than the cost of the car—and a lower payment may not always save you money.

How car loans work

Before deciding to refinance your auto loan, consider these 6 critical factors.

Is car loan refinancing right for you?