The Illinois auto loan calculator estimate for a $35,000 new car with $3,500 down, financed over 60 months at today's MonitorBankRates Illinois average new auto loan APR of 5.65% with the Illinois vehicle sales tax of 6.25% and $300 in fees added to the loan, is a monthly car payment of about $652, or about $742 a month with the average Illinois car insurance premium included, verified by MonitorBankRates as of September 24, 2026.
Lenders serving Illinois currently advertise auto loan APRs from 2.50% to 3.25% across the 5 offers listed below. This calculator finances what a Illinois dealer actually finances: the price minus your down payment and trade in, plus Illinois sales tax (local rates can add to the state rate) and fees. The APR is today's MonitorBankRates Illinois average; switch to used with one click or apply a verified lender APR from the panel below. The same loan at the Illinois used car average of 6.13% costs about $659 a month.
Illinois Car Payment Estimator
Prefilled with the MonitorBankRates Illinois average APR, the Illinois sales tax rate and average insurance. Results update as you type.
Where the amount financed comes from
| Vehicle price | $0 |
| Illinois sales tax | $0 |
| Title, registration and fees | $0 |
| Down payment | $0 |
| Trade in | $0 |
| Amount financed | $0 |
Loan balance over time
Amortization schedule (yearly totals)
| Year | Principal Paid | Interest Paid | Ending Balance |
|---|
Current Illinois Average Auto Loan Rates
Today's MonitorBankRates Illinois averages first, then the lowest verified new and used offers from lenders serving Illinois. Click any APR to run it through the calculator.
Auto Loan Offers in Illinois and the Payment on a $35,000 Car
Monthly payment on the example loan ($33,988 financed after $3,500 down, Illinois tax and fees) at each lender's advertised APR and term, from rate sheets published by the lender and verified by MonitorBankRates.
- SIU Credit UnionAuto Loans2.50% APR$603 a month over 60 months
- Polish And Slavic Federal Credit UnionNew Auto Loan2.99% APR$611 a month over 60 months
- Chicago Firefighters Credit UnionNew Vehicle Loan3.00% APR$611 a month over 60 months
- ABD Federal Credit UnionNew and Used Auto Loans3.25% APR$614 a month over 60 months
- Western Springs Federal Credit UnionNew Car Loan3.25% APR$614 a month over 60 months
Compare every new and used auto loan, local banks and credit unions first, on the Illinois auto loan rates page.
View Your Illinois Auto Loan Rate
Personalized auto loan offers from lenders serving Illinois.
What a Car Loan Costs in Illinois Right Now
| $35,000 new car, $3,500 down, Illinois tax and fees: $33,988 financed at the MonitorBankRates Illinois average of 5.65% | Monthly | Total interest |
|---|---|---|
| 36 months | $1,029 | $3,040 |
| 48 months | $793 | $4,063 |
| 60 months | $652 | $5,103 |
| 72 months | $558 | $6,161 |
| 84 months | $491 | $7,238 |
Illinois sales tax adds $2,188 to a $35,000 car, which at 5.65% over 60 months is about $42 of the monthly payment. Because Illinois taxes the price after the trade in, trading in a $10,000 car at the dealer saves $625 in tax compared with selling it privately. The Illinois average APR of 5.65% is below the U.S. average of 5.88%. Add the average Illinois car insurance premium of $90 a month and the car costs about $742 a month to keep on the road before fuel and maintenance, which is 10.7% of the Illinois median household income of $83,390. Rates change daily; every figure on this page is recalculated when it loads from the current MonitorBankRates Illinois average.
Car Payments by Price in Illinois
10% down, Illinois sales tax of 6.25% and $300 in fees financed, 60 months at the MonitorBankRates Illinois averages for new (5.65%) and used (6.13%) cars.
| Price | Down | Illinois tax | Amount financed | New car payment | Used car payment |
|---|---|---|---|---|---|
| $15,000 | $1,500 | $938 | $14,738 | $283 | $286 |
| $25,000 | $2,500 | $1,563 | $24,363 | $467 | $472 |
| $35,000 | $3,500 | $2,188 | $33,988 | $652 | $659 |
| $45,000 | $4,500 | $2,813 | $43,613 | $836 | $846 |
| $60,000 | $6,000 | $3,750 | $58,050 | $1,113 | $1,126 |
Buying a Car in Illinois: Tax, Fees and Insurance
Sales tax. State rate of 6.25%; Chicago area local taxes add up to 3.5%. Trade in credit is capped at $10,000. The calculator uses the state rate of 6.25%; enter your combined local rate for an exact figure. Dealers add the tax to the amount financed unless you pay it at signing, so it costs interest for the life of the loan.
Trade in. In Illinois the trade in value is subtracted before tax is figured, so a $10,000 trade in saves $625 in tax on top of lowering the loan.
Fees. Title, registration and plate fees are set by the Illinois motor vehicle agency and vary by vehicle; dealer documentation fees are set by the dealer and run from about $100 to more than $800 depending on the state. The calculator uses $300 as a placeholder; replace it with the figures on your buyer's order.
Insurance. The average Illinois car insurance premium is about $1,080 a year, or $90 a month, according to the NAIC, compared with about $1,258 nationally. Lenders require full coverage on a financed car, so budget for it alongside the payment. Compare carriers on the Illinois car insurance page.
How to Use the Illinois Auto Loan Calculator
- Start from the Illinois defaults
The APR is today's MonitorBankRates Illinois average, the sales tax is the Illinois vehicle rate and the insurance line is the state average. Switch to used with one click.
- Enter the deal
Type the negotiated price, your down payment and trade in, and the fees from the buyer's order. Add your local tax rate if your county or city charges more than the state rate.
- Click a verified lender APR
The panel lists the lowest current new and used offers from lenders serving Illinois. One click applies that APR and term.
- Read the full monthly cost
The large figure is the loan payment. Payment plus insurance shows what the car costs each month to keep on the road.
Frequently Asked Questions About Car Loans in Illinois
What is the average auto loan rate in Illinois today?
The MonitorBankRates Illinois average new auto loan APR is 5.65% as of September 24, 2026, and the average used auto loan APR is 6.13%, computed every day from rates published by banks and credit unions lending in Illinois. Individual lenders currently advertise APRs from 2.50% to 3.25% for borrowers with strong credit; compare offers on the Illinois auto loan rates page.
How much is the car payment on a $35,000 car in Illinois?
With $3,500 down, Illinois sales tax of 6.25% and $300 in fees, the amount financed is $33,988. At the MonitorBankRates Illinois average new auto loan APR of 5.65% that is about $652 a month over 60 months, $793 over 48 months, or $558 over 72 months.
What is the sales tax on a car in Illinois?
State rate of 6.25%; Chicago area local taxes add up to 3.5%. Trade in credit is capped at $10,000. On a $35,000 car the state rate of 6.25% comes to $2,188. The trade in value is subtracted before tax in Illinois.
Does a trade in reduce sales tax in Illinois?
Yes. Illinois charges sales tax on the purchase price minus the trade in, so a $10,000 trade in saves $625 in tax at the 6.25% state rate in addition to lowering the loan.
How much is car insurance in Illinois?
The NAIC average car insurance premium in Illinois is about $1,080 a year, or $90 a month, compared with about $1,258 nationally. Full coverage is required on a financed car, so the calculator adds the premium to the payment: about $742 a month for the example car.
What loan term should I choose?
The shortest term whose payment fits. On the $33,988 example at 5.65%, 48 months costs $793 a month, 60 months $652, and 84 months $491. The 84 month loan pays about $2,135 more interest than the 60 month loan and leaves you owing more than the car is worth for years.
How much should I put down on a car in Illinois?
At least 10% on a used car and 20% on a new one is the usual guidance. Twenty percent down on the $35,000 example, $7,000, cuts the payment by about $67 a month and reduces the time you owe more than the car is worth.
Auto Loan Calculators for Other States
Each state page starts from that state's MonitorBankRates average APR, vehicle sales tax rate and average car insurance cost. The national auto loan calculator compares the payment on the same car in every state.
