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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