Bank of America Auto Loans

Reviews: Bank of America Auto Loans

Reviews: Bank of America Auto Loans

Bank of America Auto Loans

Overall lender rating

2.1
out of 5
72 reviews
from Credit Karma members


Member ratings

All member reviews (72)

16
3
3
2
48
Oct 06, 2021
Don't waste your time
Credit Karma member

Don't even bother. It's like they don't want your business, the agents are jerks the process is long and time consuming, their rates are not competitive. The whole experience is bad. Most people think "Oh I need a loan, I will go to my bank" don't.

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1

Mar 30, 2020
Scummy company
Credit Karma member

The company is scummy; I lost thousands of dollars

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Feb 23, 2020
GOOD EXPERIENCE
Credit Karma member

A few things to keep in mind with this. My loan experience was very good. Everything was done elecronically and my credit was above 730 when I did my loan. My loan was a refinance on my auto. You have to know how to do things online and have to read and ask the right questions. If you don't I suggest you go to the bank in person. Loan went off without any issues and I got the rate I was quoted in the beginning. The only issue I have and this is why I rated them 3 out of 4 stars is that I cannot make principal payments online. I have to call in for that.

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1

Aug 13, 2019
Stupid bank I have ever know
Credit Karma member

They approved my load then next day they said your application declined because they couldn't confirm my address. I said them maybe it's because I just purchased the house. If you need I have ncessary documents that shows that I own the house. They said no we don't need it. Such a stupid reason for refuse?

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Jul 15, 2019
Absolute Nightmare Experience
Credit Karma member

Application, approval, and funding processes were the worst customer service experiences of my life. Mind you, I have great credit, plenty of income for the loan, and was ultimately approved and funded. I've also been a client of BofA for over a decade. That said, I wish that I would've gone with another bank. Bank of America Auto is the most incompetent group of people I've ever dealt with. The whole process took over 6 weeks, and I'm still waiting for the bank to send me the documents necessary to register the vehicle. I've dealt with half a dozen associates, and they're all incompetent. In their defense, clearly the training, communication, and systems are all garbage at BofA Auto.

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1

Jul 10, 2019
Look elsewhere
Credit Karma member

As I have seen in so many reviews, so very nice until the loan closes, then no personal service, they really do not care about the customer, they actually WANT you to default, then they get your car! Why can't they be competitive and want to do good business with you? Everyone works so hard and in the end we are all just trying to get a fair deal, and pay it off quickly. Last I noticed their "house" was much bigger than my home! Why do they complain or make it difficult to pay towards the principal only? Sad, they ought to encourage folks to do this, they'd make more money in the end by repeat customers and word of mouth. Hmmmm I should be a consultant for them!

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Jul 10, 2019
2010 f 150 Great experience
Credit Karma member

Great experience with my local bank everyone seems to understand my needs at this bank

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1

Jul 07, 2019
A awful place to bank
Credit Karma member

Everything they do is to skim money from your accounts. I moved evrything to another bank.

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Jul 03, 2019
Run dont Walk!
Credit Karma member

Deceptive rate quotes and insolent customer service. Long time customer and I suggest you look elsewhere!

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Jun 05, 2019
Liars Will Not Honor the Deal
Credit Karma member

I applied for their auto loan 2 weeks ago and got approved and everything seems went well. I was guaranteed a good rate with approved documents. Not until the day before picking up my car, I was notified that they cannot and will not honor the rate and increase that a lot. All happened within 2 weeks and the approved docs supposed to be valid for 30 days. Just to be clear, everything including loan amount, terms and financial situation, etc are totally the same. Now my situation is taking it or leave it one day right before the car delivery. I never thought a big company could do that to you until you met one. I'm so glad that I didn't get my mortgage from those guys since you would probably risk losing your house if they do that right before closing. I will never trust this company!

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