Bank of America Dealer & Direct Auto Loan

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About Bank of America Auto Loans

The Bank of America Dealer & Direct Auto Loan from Bank of America is one of the top-rated Auto Loans options evaluated on MoneyCompared, earning an overall product score of 9.4/10. Direct-to-consumer new, used, private-party, and lease-buyout auto loan offering up to a 0.50% interest rate discount for Preferred Rewards members.

Key highlights include 5.69% - 14.99% Fixed APR (New, Used & Private Party), a fee structure of $0 Application Fee, and Up to 0.50% APR Reduction with Bank of America Preferred Rewards. Accounts are backed by Apply Online in Minutes with 30-Day Rate Lock and supported by Bank of America's 4.8 / 5.0-rated digital banking experience.

Features

Annual Fee $0 Application Fee
Regular APR / Rate 5.69% - 14.99% Fixed APR (New, Used & Private Party)
Intro Offer / Welcome Bonus Up to 0.50% APR Reduction with Bank of America Preferred Rewards
Savings APY / AER Terms of 48, 60, or 72 Months + Private Party & Lease Buyout Financing
Minimum Deposit $7,500 Minimum ($100,000 Maximum)
Foreign Transaction Fee N/A (U.S. Auto Financing)
Deposit Insurance Apply Online in Minutes with 30-Day Rate Lock
Mobile App Rating 4.8 / 5.0
Overall Rating 9.4 / 10

About Product

  • Annual / Monthly Fee: $0 Application Fee
  • APR / APY Rate: 5.69% - 14.99% Fixed APR (New, Used & Private Party)
  • Intro Offer / Bonus: Up to 0.50% APR Reduction with Bank of America Preferred Rewards
  • Key Benefits: Terms of 48, 60, or 72 Months + Private Party & Lease Buyout Financing
  • Minimum Requirement: $7,500 Minimum ($100,000 Maximum)
  • Foreign Transaction Fee: N/A (U.S. Auto Financing)
  • Protection: Apply Online in Minutes with 30-Day Rate Lock

Pros

  • Rate / APR / APY: 5.69% - 14.99% Fixed APR (New, Used & Private Party)
  • Fee Structure: $0 Application Fee
  • Welcome Offer / Benefit: Up to 0.50% APR Reduction with Bank of America Preferred Rewards
  • Rewards & Highlights: Terms of 48, 60, or 72 Months + Private Party & Lease Buyout Financing

Cons

  • Minimum Requirement: $7,500 Minimum ($100,000 Maximum)
  • Subject to Bank of America eligibility and account terms

Ready to check your rate for Bank of America Dealer & Direct Auto Loan?

Visit the official Bank of America website to view current terms, eligibility, and apply online.

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