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These rates are updated weekly. For criteria used in surveys of rates above, click here. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site, where you can find additional information. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration. rates banks, thrifts and credit unions through proprietary Safe & Sound star rating system. Rates are subject to change without notice and may vary from branch to branch.

Chicago, IL Auto Loan Rates

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Right now on our auto loan rates list in Chicago, Illinois, Pentagon Federal Credit Union has the best auto loan rate on 3 year new auto loans. PenFed’s current 3 year rate is 2.99 percent with zero auto discount points. A 3 year auto loan in the amount of $25,000 at 2.99 percent has a monthly payment of $726.92.

Bank of America comes in a close second on our Chicago, IL list with a 3 year new loan rate of 3.49 percent with zero rate points. The monthly car payment for a $25,000 loan at 3.49 percent is $732.44.

Nationwide Bank has the third lowest car loan rate on our Chicago rate list. Nationwide’s current 36 month new auto loan rate is 3.70 percent with 1 rate discount point. The monthly payment for a $25,000 loan at 3.70 percent is $734.77.

Harris Bank has the fourth best rate on our list. Harris Bank’s current 3 year rate is 5.50 percent with 0.50 rate discount points. The monthly payment for a $25,000 loan at this rate is $754.90

The fifth best 3 year new auto loan rate is from First Bank and Trust. The bank’s current rate is 5.75 percent with 0.25 rate discount points. The monthly payment for a $25,000 loan at this rate is $757.72.

As you can see, the monthly payment amount on a $25,000 loan, between the best rate 2.99 percent and the worse rate on our list 5.75 percent is just about $30. The big difference is the total dollar amount you’ll save on the life of the loan. $30 a month adds up.

Author: Brian McKay
February 12th, 2011

MBR In the Press