BofA Adds EV Charger Financing
Offered through dealers, manufacturers as consumer demand grows.
Bank of America works with more than 10,000 auto dealers and various EV makers.
IMAGE: Pexels/dcbel
Bank of America is now offering financing for home electric-vehicle chargers along with customers’ vehicle loans.
The second-largest U.S. bank said it added the offering due to customer demand for options that make owning an EV easier. It cited Statista-McKinsey data that show U.S. demand for home chargers will increase to almost 27.5 million by 2030.
The North Carolina-based lender is offering the financing add-on through dealers and carmakers. It says charger prices in the U.S. range from $200 to $2,000.
Bank of America works with more than 10,000 auto dealers and various EV makers.
EV demand here could increase in the U.S. with the recent availability of up to $7,500 federal tax credits for models that meet certain sourcing parameters.
Originally posted on Auto Dealer Today
More F&I
Amplify 2026 Billed as Turning Innovation Into Results
Reynolds and Reynolds says its annual retail summit will connect dealers with practical strategies, peer insight, and technology-driven ideas.
Read More →
Own Your Outcome: F&I in the Digital Customer Journey
Finance has historically been the last step in the car-buying process, but it doesn’t have to be. The customer’s journey starts long before they arrive at the dealership, and so should F&I’s involvement.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Lifetime Battery F&I Product Meant to Drive Dealer Traffic
EFG Cos. offering is intended to create lifetime auto dealer engagement with customers.
Read More →
The Psychology Behind Menus That Increase Add-On Sales
There is a science to crafting a menu that gives customers confidence in the choices presented, and moving the process outside the F&I office can further boost results.
Read More →
Why Your F&I PVR Is Misleading You
Here’s a handy checklist of the numbers to track in 2026 instead.
Read More →
Auto Consumer Anxiety Presents Opportunity
A survey of U.S. drivers found the majority are concerned about finances and the economy, but those fears make many ready to buy vehicle-protection products.
Read More →
Humble and Hungry: 12 Rules for an F&I Life
Dustin Gingerich, with a decade in the F&I business under his belt, shares his thoughts on leadership, building trust with customers, and the importance of learning and innovation.
Read More →
Focus on the Opening
F&I managers must learn as much as possible about their customers, starting before they walk into their offices. The bulk of today’s consumers expect that, and good results will follow.
Read More →