Business Advantage Auto Loan Icon

Business Advantage Auto Loan

Put your business back in the driver’s seat with a Bank of America Business Advantage Auto Loan. Use it to purchase or refinance cars, light-duty trucks, or cargo vans. You’ll benefit from a fast approval process and competitive rates.

Quick facts and Requirements

Loan Amount

$10,000 or More

Loan Term

4 - 6 Years

Payment Frequency



No application fee

Benefits & Drawbacks

Approval typically just 30 minutes and comes with a 30-Day Rate Lock Guarantee
Low, fixed rates maximize your purchasing power
.25 - .50% rate discounts are available for Bank of America Preferred Rewards clients
Vehicle titles listed in your business name may qualify you for tax benefits
Vehicles must have a value of $10,000 or more to be financed
Vehicles must have less than 75,000 miles at the time of financing

Financing a Business Vehicle

If your small business keeps you on the move, Bank of America can help you finance a small car, light-duty truck, or cargo van. This is an excellent option if your business offers at-home visits or delivery options, or if you simply spend a lot of time on the road.(For a vehicle that’s over 2.5 tons, you should check out equipment financing options instead.)

30-Day Rate Lock Guarantee

When you’re approved for a Bank of America Business Advantage Auto Loan, the rate is guaranteed for 30 days from the date of your original application submission - which means you know exactly how much car you can afford, and you have plenty of time to find the right car within your budget.

Why use Lendio?

Lendio's mission is to empower your business by making small business loans simple through options, speed, and trust. Whether you are looking for an acquisition loan or a term loan, Lendio offers hundreds of different loan products from a variety of lenders. Finding out which business loan is best for you is why we're here.