Great experience with my local bank everyone seems to understand my needs at this bank
Reviews: Bank of America Auto Loans
Reviews: Bank of America Auto Loans
Overall lender rating
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Most helpful negative review
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.
All member reviews (97)
Carvana told me that BoA is the slowest auto loan lender they partner with out of all their lenders. Well, they did not disappoint. They caused me to miss my delivery date because they can't even meet their own 1 business day turn around time. On top of that they're the opposite of proactive. If they're missing documents/signature from you they will take their sweet time contact you
I had auto bill pay through my bofa autoloan. Everything was good for 2 years then all the sudden the auto bill pay pays on time but after their reporting cycle resulting in them reporting missed payments and increased balances damaging my credit for 4 months in a row. Still no resolution and there is still damage to my credit.
Awful automatic payment setup and their website is the least user-friendly ever. Somehow set up three automatic payments per month and the app deoz not allow you to cancel any. I had excellent credit going into thsi car loan & has dropped to very good since
I purchased a 2022 Chevy Trailblazer and I got injured at work so I fell behind 2 months on my payments. I was told that I didn't qualify to have my past due payments moved towards the end of my loan. I had not been late since getting the loan until my injury. Noone would tell me why I didn't qualify. I can't help but think that it's due to discrimination. I was heart broken at how insensitive the "Supervisor" was. I would like to know what the qualifications are.
I see bad reviews but our experience was good
Horrible experience . What started as easy online application turned into delays , misleading info from various customer service reps. Keep in mind they don’t assign one person to handle your loan so dealt with probably 5-10 different reps. Seemed they didn’t really want my business and were intentionally trying to delay the process out and make it difficult. Just went down the road to another local bank and had my loan all locked in in a hour and cancelled Lon request to Bank of America.
Had a 682 credit rating, make 125k yearly the last several years and bank of America denied me a auto loan on a 19k vehicle but was approved by capital one. I was just fixn to move my bank account to bank of America till that. I would say if ur credit is fair to good bank of America will deny u more than likely.
Horrible, I wish I just kept my original loan and made the higher payments. You can’t make additional payments toward the principal balance (that would make them less interest fees), you have to go to the DMV yourself to transfer the title to them and pay the fees (they won’t tell you that until after they complete the loan) and they put the wrong name on my account, I sent the form in twice to change it and keep getting told they didn’t receive it and can’t change my name even though it’s on ALL of the documents I sent them plus my ID. Ridiculous and useless bank. Don’t use them
Such a terrible experience. Three days ago, I received approval (and a pretty good rate), but they still have not provided the loan documents to sign which is of course required by the dealer to deliver the car. In fact they have sent me no notifications whatsoever. I just keep calling and they tell me a different story every time.
Great rate and super fast process.
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