Is your Bank of America auto loan payment due date just not working for your current financial rhythm? Maybe your paycheck schedule has shifted, or you're just looking to align your bills better. Whatever the reason, changing your auto loan due date can provide significant relief and make managing your finances much smoother.
This comprehensive guide will walk you through the process of changing your Bank of America auto loan due date, step-by-step. We'll cover everything from eligibility requirements to how to contact them, and even provide some handy FAQs at the end. Let's get started!
Understanding Bank of America's Policy on Auto Loan Due Date Changes
Before you pick up the phone or log in, it's crucial to understand Bank of America's general approach to due date changes. While they do offer this flexibility, there are typically some important criteria you need to meet.
Key Considerations:
- One-time Change: Bank of America generally allows one payment due date change for the entire term of your loan. This means it's a valuable option, so use it wisely.
- Timeliness: Your account generally needs to be current or no more than 10 days past due to be eligible for a due date change.
- First Payment Made: You must have already made your first payment on the auto loan.
- Limited Adjustment Window: The requested payment due date usually cannot be more than 15 days from your existing payment due date. For example, if your current due date is the 5th, you might be able to change it to any day between the 5th and the 20th.
- Maturity Date Adjustment: Be aware that changing your due date will adjust your loan maturity date. Your monthly payment amount, however, will typically remain the same.
Now, let's dive into the practical steps!
Step 1: Assess Your Eligibility and Gather Information
Before you reach out to Bank of America, take a moment to confirm you meet the general criteria and have all necessary details at hand. This will make the process much smoother and faster.
Sub-heading: Verify Your Loan Status
- Have you made your first payment? If not, you'll need to do so before you can request a change.
- Is your account current or less than 10 days past due? If you're significantly behind, you might need to discuss hardship options with Bank of America instead of a simple due date change.
- Have you changed your due date before? Remember, it's generally a one-time change.
Sub-heading: Know Your Desired Due Date
Think carefully about the best new due date for you. Consider:
- Your Paycheck Schedule: When do you typically receive your income? Aligning your due date with your pay cycle can help prevent late payments.
- Other Bills: Do you have other major bills due around your current auto loan payment date? Shifting it could help spread out your financial obligations.
- Remember the 15-day window! If your current due date is the 10th, you can't push it all the way to the 30th.
Sub-heading: Gather Your Account Information
Have the following readily available:
- Your Bank of America Auto Loan Account Number.
- Your personal identification information (e.g., full name, address, phone number, Social Security Number).
- Any other relevant details about your loan.
Step 2: Contact Bank of America
This is the most direct way to request a due date change. Bank of America strongly encourages customers to call them for this type of request.
Sub-heading: The Best Method: Phone Call
The most effective way to change your Bank of America auto loan due date is by calling their dedicated auto loan customer service line.
- Call Bank of America Auto Loan Customer Service: The general number for Bank of America auto loan inquiries is usually 1-800-215-6195.
- Operating Hours: Typically, Monday-Friday, 8 a.m. to 8 p.m. ET. Automated support is often available 24/7.
- Be prepared for wait times, especially during peak hours.
Sub-heading: What to Expect During the Call
When you connect with a representative, clearly state your intention.
- State Your Purpose Clearly: Begin by saying, "I would like to inquire about changing the due date for my auto loan."
- Provide Your Information: The representative will ask for your account number and personal identification to verify your identity.
- Explain Your Reason (Optional but Recommended): While not always strictly necessary, briefly explaining why you want to change the due date can sometimes help the representative understand your situation better. For example, "My paycheck schedule has changed, and I'd like to align my payment date accordingly."
- Propose Your New Due Date: Clearly state the new due date you would prefer, keeping the 15-day window in mind.
- Confirm Eligibility and Process: The representative will check if you meet the eligibility criteria and explain the process, including how the change will affect your loan maturity date.
- Receive Confirmation: Ask for confirmation of the due date change and any details about when it will take effect. You might receive a confirmation email or letter.
Sub-heading: Alternatives (Less Common for Due Date Changes)
While calling is the primary method, you might wonder about other options.
- Online Banking: While you can manage automatic payments and view your loan details online, directly changing the loan due date itself typically requires a phone call. You can, however, cancel and re-establish automatic payments to reflect a new due date after Bank of America has officially changed it.
- In-Person at a Financial Center: While you can make payments in person, changing the due date is usually handled by their specialized auto loan department, which is best accessed by phone.
Step 3: Confirm and Adjust Automatic Payments (If Applicable)
Once Bank of America confirms your due date has been changed, it's crucial to adjust any automatic payments you have set up to avoid issues.
Sub-heading: Verify the New Due Date
- Check Your Online Account: Log in to your Bank of America online banking account a few days after your call. Look for your auto loan details and confirm the new due date is reflected.
- Look for Written Confirmation: Keep an eye out for any confirmation emails or physical letters from Bank of America confirming the change.
Sub-heading: Update Your Automatic Payments
If you have automatic payments set up through Bank of America:
- Cancel Existing Autopay: Sign on to your Bank of America online banking, select your auto loan from Account Summary, and then select "Manage Autopay" to cancel the recurring schedule.
- Set Up New Autopay: Once the old one is canceled and the new due date is confirmed, set up a new automatic payment with the updated due date. Allow at least 3 business days before the new automatic payment is scheduled to withdraw.
- You can usually find this option under your auto loan details in Account Summary, or within the "Bill Pay" section.
If you pay your auto loan through an external bank's bill pay service, you will need to log into that bank's online platform and update the payment date there as well.
Step 4: Monitor Your Account
After making the change and adjusting your payment settings, it's a good practice to closely monitor your account for the next few billing cycles.
Sub-heading: Check for Correct Payments
- Ensure your payments are being withdrawn on the new due date.
- Verify the correct amount is being debited.
Sub-heading: Review Your Statements
- Carefully review your monthly statements to confirm the due date and payment application are accurate.
- If you notice any discrepancies, contact Bank of America immediately.
By following these steps, you can successfully change your Bank of America auto loan due date and gain better control over your financial schedule.
10 Related FAQ Questions:
How to Check My Bank of America Auto Loan Balance?
You can check your Bank of America auto loan balance by logging into your online banking account, using the Bank of America mobile app, or by calling their customer service line at 1-800-215-6195.
How to Make an Extra Payment on My Bank of America Auto Loan?
You can make an extra payment on your Bank of America auto loan online through your account, via the mobile app, by phone (1-800-215-6195), by mail, or in person at a financial center. Any extra payment will typically go directly to the principal.
How to Set Up Automatic Payments for My Bank of America Auto Loan?
To set up automatic payments, sign on to your Bank of America online banking, select your auto loan from Account Summary, and then select "Set up Autopay." You can also call 1-800-215-6195 or use the form on your monthly statement.
How to Find My Bank of America Auto Loan Account Number?
Your Bank of America auto loan account number can be found on your monthly statement, by logging into your online banking account, or by contacting customer service.
How to Pay Off My Bank of America Auto Loan Early?
You can pay off your Bank of America auto loan early by making a lump sum payment online, via phone, mail, or in person. Bank of America does not typically have prepayment penalties on auto loans.
How to Get a Payoff Quote for My Bank of America Auto Loan?
You can get a payoff quote for your Bank of America auto loan by logging into your online banking account, selecting your auto loan, or by calling their auto loan customer service line.
How to Contact Bank of America Auto Loan Customer Service?
You can contact Bank of America auto loan customer service by calling 1-800-215-6195. Automated support is available 24/7, and live agents are typically available Monday-Friday, 8 a.m. to 8 p.m. ET.
How to Refinance My Bank of America Auto Loan?
To refinance your Bank of America auto loan, you can apply online through their website or contact them directly to discuss refinance options and eligibility requirements.
How to Get a Copy of My Bank of America Auto Loan Statement?
You can get a copy of your Bank of America auto loan statement by logging into your online banking account and accessing your statements digitally, or by requesting a physical copy from customer service.
How to Defer a Payment on My Bank of America Auto Loan?
If you are experiencing financial hardship, you may be eligible for payment deferment or other hardship programs. You will need to contact Bank of America's auto loan customer service directly at 1-800-215-6195 to discuss available options and eligibility.