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Bank of America Auto Loan |
Bank of America Auto Loan is one of the most affordable way to finance a new or a used car in any state of the United States. It is the dream of every citizen to own a car for their day to day transportation. However, a large number of them are not in a financial condition to afford it. To fulfill the dream of such citizens, Bank of America has come up with a whole range of auto loan programs for eligible borrowers to choose from. Bofa auto loans offer a number of benefits that include:
- Fixed rate on new, used and refinance auto loans
- Just $332 monthly payment for a $25,000 new car
- Wide variety of loan types including private party purchase, dealer purchase, refinance and leases buyout
- Easy, secure and fast application
- Discounts for eligible customers
- Quick access to funds
- Dedicated Customer service
Bank of America Auto Loan Rates
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Bank of America is offering some of the best auto loan rates available in current market. The new car loan rates offered by Bank of America is said to be the lowest auto loan rate in the country. Current Bank of America auto loan rate for new car is 4.10% for car loans up to 60 months and the rate for auto loans for 61 to 72 months is 4.34%. The interest rates for used car loans for buying a vehicle from a private party is slightly higher than purchasing from a franchised dealer. The rate of interest for auto loans up to 60 months is 6.85% and for loans between 61 to 72 months are 7.65. Moreover, loan rates for auto refinance are at 4.74 percent for loans up to 60 months and 5.54 percent for auto loans between 61 months and 72 months.
Bank of America Auto Loan Center
Bank of America has different departments and centers that handle different services and products offered by the bank. Bank of America Auto Loan Center is responsible for all the activities of the bank related to auto loans and its lending process. The auto loan center of the bank has some requirements for the borrowers while making their application and they include:
- Names, addresses, home and work phone numbers for the applicants
- Driver's license information for the applicants
- Employment information
- Type of purchase to finance
- Dealer purchase
- Private party purchase
- Refinance
- Lease buyout
- Loan amount
- Number of months to finance the loan amount
- Year, make, model, mileage, and vehicle identification number (required only for refinances, private party purchases and lease buyouts)
- Applicant's email address, social security number, and mother's maiden name are required for secure access and to check the application status
Making Bank of America auto loan payment has become quite hassle free as the bank offers online banking services. Customers can easily sign in to online banking and enjoy a number of convenient services for auto loans such as free online payment option, get information on current balance and payoff amount, download forms and instructions and access additional services. Customers can also call Bank of America auto loan phone number (800-900-9000) to get the solutions for a number of queries.
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