Bank of America Car Loans

Had a death of an immediate family member. Asked if could defer one car payment they said absolutely not. Wanted to know their reasoning and they couldn’t give one. I will never use boa again.

Their customer service is horrible, they do not report on time to credit reporting agencies as Experian, Transunion and Equifax. I bought a car ( traded in) over 45 days ago and Bank of America has not yet updated the fact that I know it longer have the loan and it is paid off in full. I do not recommend anyone dealing with this bank for automobile and mortgage loans.

I recently applied for the auto loan. They kept workaround for a week; this causes my order was canceled. In order to keep my order, I had to sign finance with my dealer. After that, I called them to cancel the car loan; they said the cancel was requested. After 2 weeks, I still saw my car loan. I called them again. They said they had not received any check from the dealer. I called my dealer and they said they had not received any check from Bank of America and asked me to request the check tracking number or any proof that they sent the check. I called bank again and they could have not provided any tracking number or proof they had sent the check and required me to pay the interest until the loan is canceled. They just kept ask me to call this department and others but no solution was provided. I write this review hopefully help some one to avoid or be careful when deciding to apply the loan with Bank of America. Please be careful!

It’s an OK rate, but I think you should be lower than it is shopping around for a better rate right now. Hopefully I’ll find one during the duration of this long.

Lowest rate. Better than my own personal bank.. This is the first time that I've done business with Bank of America, but it is not for them lack of trying to get me In to some type of Relationship. I was hesitant because they are a big bank. However, I'm hoping this loan goes smoothly.

If there were a score of minus infinity, BOA would easily qualify for it. This business is poison for a customer. Incompetence appears to be ubiquitous and misinformation habitual. To acquire a car loan, even with an 849 score, you must work many hours for BOA without compensation. You cannot make this story up!

I was first told they needed a purchase order (PO) with them listed as the lienholder. They would turn the paperwork around in 24 hours and send a cashier check overnight via UPS. By California Law, the dealership could not list them as the lienholder because they had no relationship with BOA. I wonder why? I explained this to BOA, who then told me it was unnecessary. Just provide the purchase order, where the loan amount and interest rate do not have to be the same as the BOA loan. I uploaded the PO and waited to receive the truth-in-lending statement, expecting the cashier check to arrive at the dealership in 24 hours.
Two days go by, and nothing happens. I called again and was told they were concerned about who would do the title work because there was no fee for it on the PO. I told them again that I lived in Nevada, but before I moved there, I put an order in for a rare car that I was purchasing in California. I explained that I expected to travel to the dealership to inspect the vehicle, sign some final papers, and drive the car back to Nevada. They then said they would cut and send the check overnight. They provided no information about how to complete the title work. The next day, I checked to see if the check arrived. It was not there. I called again for a tracking number so the dealership could track the check. I was told they do not give that out. I traveled to California anyway. The next day, I called BOA again. They said the check would arrive in three days and gave the dealership the tracking number.

I registered the car in Nevada. The Nevada DMV said they do not deal with the title. I showed them who the lienholder was, including the truth-in-lending statement and the official lienholder's address. The DMV said that did not matter.

I called BOA about this two times and received two different stories about how to deal with it. BOA wants me to go back to the DMV to change the registration. Given all the misinformation, what are the chances this will be resolved in the way BOA expects?

I strongly recommend not being a customer of BOA, no matter what deal they offer, unless you are interested in customer abuse. It's time to find a competent, customer-oriented bank. BOA, ain't it!

I’ve applied with Bank of America for a Car loan. My credit score came back when they checked it and the notice said I have a credit score of 747 which I consider good. I’m still only getting a 9.2% interest rate for a private party loan. Which I accepted but the biggest issue is that I applied over a week ago and still don’t even have the contract. Every day I call Bank of America they push it out for another day. There is really no help at all.
If you want good customer service and a quick turn around in a loan, please choose a different bank.

I will never use this bank again. For a few months I've checked the website, seen that there was no payment due and the next due date was a month off, but decided to make the payment anyway, just to keep a month ahead. Come March a few things came up and I decided to just wait for the due date to pay. Within a week I was called and told I was late, so I checked the site and now where it once said I have nothing due except a payment in April, it now says I owe two months and still the payment in April. I pay the two months I'm supposedly past due and the late fee and complain, but the person on the phone doesn't really listen and I don't expect much anyway.
Well a few days later I get two letters, one certified and one not, but both saying the same thing - I'm a few days late, but instead of just being a reminder, it is a threat - they threaten to take legal action against me, including seizing money from my accounts at other banks and repossessing the vehicle - all for being less than a week late on a payment their site didn't tell me I owed. Up until this point, I had never been late on a payment either, the repossession threat was their first step - what does that say about a bank when that is the first action they take for a first time offense, even if it was my fault that it happened?
This was insulting and infuriating and treating people like this is not okay. I will be refinancing this to remove it from their service as soon as possible because I cannot trust their payment system any longer.

I give a 5 start rating for the ease of application process. However, I am going to rate the csr service 3 stars due to: inconsistent/inaccurate information which was revealed during follow-up phone calls w. a different csr, and on the loan officer side, with the left hand not knowing what the right hand is doing scenario.

Bank of America was amazing, getting me a much better rate than all competitors. I have been a loyal customer, and will be forever.