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Is USAA or Bank of America better for an auto loan?
"I currently have accounts with both USAA and Bank of America. Now I want to get an auto loan. Which lender should I go with?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Both Bank of America and USAA are popular, reputable choices for a car loan. However, looking at only two lenders when you’re getting a car loan can result in you paying too much.
Like you would with
car insurance
, you need to shop around. The more you research rates and lenders, the lower your rate will eventually be.You might find that USAA or Bank of America offers the best rates, but you might also find that their rates are much higher compared to the competition. Do your due diligence to find the best rate.”
View full answer
- Gregory R.
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