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Auto Loans

Are you looking to purchase a car, buy out a lease, or refinance an auto loan?

Whether it’s a family-friendly van or sporty dream car, Bank of America offers multiple auto loan financing solutions to help you buy a car or refinance an auto loan at a great competitive rate.

What Bank of America auto loans and refinancing can offer


  • Competitive fixed rates on personal auto loans.
  • Multiple loan types, including dealer new/used, refinance, private party and lease buyout.
  • Easy, no-fee application.
  • Most decisions take about 60 seconds.
  • A 30-Day Rate Lock Guarantee so you have time to make the right decision.1
  • An extensive auto dealer network to help streamline the purchase process.2
  • Interest rate discounts of up to 0.50% for Bank of America Preferred Rewards members.3
  • Financing for certain exotic vehicles including Aston Martin, Bentley, Ferrari and Lamborghini. Subject to term limits, loan to value restrictions and other requirements.


Contact your Merrill financial advisor or go to Bank of America Auto Loans to learn more or apply.


Things to consider:

  • Where would you like to buy your car?
  • How much do you plan to put towards a down payment?
  • Could an auto loan or refinancing help keep your investment strategy intact?

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Whether you’re defining goals, addressing change or figuring out how to move forward, Merrill and Bank of America offer a wide range of solutions to help you take the next step and stay on track.

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1Rate valid for 30 days from the date of original application submission.


2Bank of America works with thousands of automobile dealerships across the country to assist our customers with the financing of their new and used vehicles. Bank of America is not affiliated with these dealerships and does not require any particular dealership for your vehicle buying experience. Consequently, Bank of America makes no warranties and representations and is not otherwise responsible for any aspect related to the purchase of your vehicle and associated products and services from these authorized dealerships.


3Preferred Rewards Program Eligibility. To enroll in the Bank of America Preferred Rewards program you must have an active, eligible personal checking account with Bank of America® and maintain the balance required for one of the balance tiers in your combined qualifying Bank of America deposit accounts (such as checking, savings, certificate of deposit) and/or your Merrill investment accounts (such as Cash Management Accounts, 529 Plans). You can satisfy the combined balance requirement for enrollment with either:

i. a three-month combined average daily balance in your qualifying deposit and investment accounts or
ii. a current combined balance, provided that you enroll at the time you open your first eligible personal checking account and satisfy the balance requirement at the end of at least one day within 30 days of opening that account.


You must have a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 for the Platinum Honors tier, $1,000,000 for the Diamond tier and $10,000,000 for the Diamond Honors tier. Bank of America Private Bank clients qualify to enroll in the Diamond tier, and may qualify for the Diamond Honors tier based on their qualifying Bank of America, Merrill, and Private Bank balances. Refer to your Personal Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits, available at Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise. Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. For details on Bank of America employee qualification requirements, please visit the Employee Financial Services intranet site.  Employees of companies participating in the Bank of America Employee Banking and Investing Program may be eligible to enroll on customized terms.  Please visit> for details


Banking, automobile loans, mortgage and home equity products offered by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. Home Icon for Equal Housing Lender Equal Housing Lender. ©2023 Bank of America Corporation. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.


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 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 directly to Bank of America through its website, Financial Centers, or Bank call centers. Discounts are not available for motor vehicle leases or for applications sourced from car dealerships, car manufacturers, or third-party branded/co-branded relationships. Benefit is non-transferable. Subject to credit approval. Standard underwriting guidelines and credit policies apply.



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