The three ways Bank of America lets you pay your auto loan

Bank of America auto loan payments can be made online through your account, by phone, or by mail. The online method is fastest and shows up in your account when ready. Phone payments take the same time but require speaking to a representative. Mail payments take 7 to 10 business days to reach the bank and post to your account, so you need to send them well before your due date to avoid a late fee.

All three methods draw money from a bank account you control — either a Bank of America account or an account at another bank. You cannot pay with a credit card, debit card, or cash directly through Bank of America's auto loan system. If you want to use a credit card, you would need to pay your own bank account with the card first, then use that account to pay the loan.

Key Takeaways

  • Online and phone payments post when ready; mail payments take 7 to 10 business days, so mail before the due date to avoid late fees.
  • You need your Bank of America auto loan account number and a checking or savings account at any bank to make a payment.
  • Bank of America's online portal shows your payment history, current balance, and next due date in one place.
  • If you set up automatic payments, the bank withdraws money on your chosen date each month, and you can change or cancel anytime.
  • Late fees explore if your payment does not post by 11:59 p.m. on the due date, regardless of when you sent it.

Paying online through your Bank of America account

Log into your Bank of America account at bankofamerica.com or through the mobile app. From the home screen, select "Auto Loans" or "Loans" depending on your account layout. You will see your loan balance, interest rate, and next due date. Click "Make a Payment" or "Pay Now."

Enter the amount you want to pay. You can pay the minimum due, the full balance, or any amount in between. Choose the bank account the payment should come from — this can be your Bank of America checking account or a savings account at another bank if you have linked it. Select the date you want the payment to post. If you choose today, it posts within hours. If you choose a future date, the bank will withdraw the money on that date.

Review the details and confirm. You will see a confirmation number when ready. Bank of America sends a receipt to your email and stores it in your account history. This method is free and does not charge a fee on top of your payment.

Paying by phone

Call Bank of America's auto loan payment line at 1-800-933-6262. Have your account number and the bank account you want to pay from ready. A representative will ask which account to withdraw from, how much to pay, and what date you want the payment to post.

Phone payments post on the same timeline as online payments — when ready if you choose today, or on your chosen future date. The call is free, and you will receive a confirmation number to keep for your records. This method works if you prefer speaking to someone or if you do not have online access.

Paying by mail

Write a check to Bank of America and include your account number on the check itself. Mail it to the address on your loan statement — this address changes depending on which Bank of America processing center handles your loan, so always check your most recent statement rather than using an old address.

Mail payments take 7 to 10 business days to arrive and post to your account. Because of this delay, you need to mail your payment at least 10 days before your due date to make sure it posts on time. If it arrives after 11:59 p.m. on the due date, Bank of America will charge a late fee even though you mailed it early. Keep a copy of the check or a photo of it for your records.

Setting up automatic payments

Automatic payments let Bank of America withdraw your payment on the same date each month without you having to log in or call. Log into your account online, go to your auto loan, and look for "Autopay," "Automatic Payment," or "Recurring Payment" — the exact name varies by account type. Select the amount (minimum due, full balance, or a set amount), the date each month, and which account to withdraw from.

You can change your automatic payment amount, date, or account anytime by logging back in. You can also pause or cancel automatic payments without penalty. If you set up autopay and then make an extra payment manually in the same month, both will go through unless you cancel the automatic payment first. Bank of America does not charge a fee for automatic payments.

What happens if you miss a payment or pay late

A payment is late if it does not post to your account by 11:59 p.m. on the due date. Bank of America charges a late fee — the amount depends on your loan agreement but typically ranges from $25 to $35 for the first late payment. If you are more than 30 days late, the bank reports the missed payment to credit bureaus, which damages your credit score.

If you realize a payment will not make it by the due date, call Bank of America when ready. Some loan agreements allow a grace period of a few days, though this is not may provide. If you are struggling to make a payment, ask about deferment or forbearance options, which temporarily pause or reduce your payment. These options do not erase the payment — you still owe it — but they prevent a late fee and credit report damage while you get back on track.

Finding your account number and due date

Your Bank of America auto loan account number appears on your monthly statement, in your online account under "Account Details," and on any payment coupons the bank sends you. Your due date also appears in all three places. If you cannot find your statement, log into bankofamerica.com, click "Auto Loans," and the due date and account number will be visible on the main loan screen.

If you have multiple loans with Bank of America, make sure you are paying the correct one — the account number tells you which loan the payment goes to. Paying the wrong account by mistake means one loan gets paid and the other falls behind, triggering late fees and credit damage.

Frequently Asked Questions

Can I pay my Bank of America auto loan with a credit card?

Bank of America does not take credit card payments directly for auto loans. You can pay your credit card with your checking account, then use that checking account to pay the auto loan, but this adds an extra step and the credit card company may charge a cash advance fee.

What time does an online payment post if I pay today?

Online payments typically post within a few hours of confirmation, usually the same day. Bank of America does not may provide an exact time, but payments made before 5 p.m. Eastern Time generally post by end of business that day. Payments made after 5 p.m. may post the next business day.

If I pay extra toward my loan, does it go to next month's payment or to principal?

Extra payments go directly to your loan principal, not to next month's payment. This reduces the total amount of interest you pay over the life of the loan. Your next regular payment is still due on its normal due date unless you specifically ask Bank of America to skip or reduce it.

What if I set up autopay but then want to make a one-time extra payment in the same month?

You can make an extra payment anytime without affecting your automatic payment. Both the automatic payment and the extra payment will post. If you do not want the automatic payment that month, you need to cancel or pause it before the withdrawal date, then restart it the following month.

How do I know if my mailed payment was received?

Check your online account 10 to 12 business days after mailing. Your payment history will show the deposit date and amount. If it does not appear after 12 business days, call Bank of America to confirm receipt. Keep a photo or copy of the check until you see it posted online.