Bank of America’s Auto Loan Rates
Bank of America has some of the lowest auto loan rates in the country currently if you happen to have an excellent credit score. In fact for one of the most popular auto loan products, the 60 month new auto loan, you can lock in rates at around half of the current national average. As of today, new auto loan rates for 0-60 month terms go for between 6.47% and 6.50% APR and B of A’s rates for the same term go for 3.35% APR.
Current Auto Loan Rates from Bank of America:
- B of A has new car loans for 3.35% APR for terms between 0 and 60 months and 3.75% APR for terms between 61 and 72 months.
- They have used car loans (from franchise dealer only) for 3.85% APR for terms between 0 and 60 months and 4.15% APR for terms between 61 and 72 months. The used car loans purchased from sellers of a private party will go for much more – from anywhere between 4.75 and 5.55% APR.
- They have auto loan refinance rates ranging from 3.75 to 4.49% APR depending on the term as well as lease buy out rates ranging from 5.25% to 6.05% APR depending on the term.
Eligibility:
-No commercial vehicles
-No vehicles for business use
-No conversion or delivery vehicles, gray market, or lemon law vehicles
-No salvaged, rebuilt, or branded title vehicles
-No Motorcycle
-No Independent Dealer Purchase
-Applicants must be U.S. citizens or Legal Permanent Residents
General Conditions:
- Auto Loan rates apply to amounts financed in the range of $7,500 to %100,000
- Mileage, loan-to-value (LTV), and model year restrictions
- Loan approval voucher is only valid for one vehicle per transaction
- For dealer purchases, vehicles can’t be more than five years old
- For private party, refinance and lease buyouts, vehicles can’t be over seven years old
- Vehicle identification number, year, make, and model are required for application process on person to person, refinance and lease buyouts
June 17th, 2011 at 1:32 am
these numbers 3.75 to 4.49% APR – auto loan refinance rates – seem a little exaggerated.
June 27th, 2011 at 10:30 pm
great rates but hard to obtain!!