My Car Lender

Home / Finance / Illinois Auto Finance / Chicago (IL) Auto Loans


Would you like to finance a car in Chicago? Unfortunately, arranging a car loan can be a long process, prolonging the entire car shopping process. If you’d like to obtain the most affordable interest rate available, we can help. Experience the convenience of having a local Chicago lending professional lead you through the approval process. Even better, there’s zero charge to apply.

Auto Finance Rates in Chicago

What will your APR be? The reality is, your rate of interest varies widely based on your credit, as well as other factors. The rates displayed below are only for informational purposes. These aren’t advertisements, and your actual rate will vary.

FICO Rating New Car Used Car
Excellent 3.4% 3.6%
Good 5.0% 5.0%
Average 6.8% 6.8%
Subprime 8.7% 8.6%
Bad 13.0% 12.5%
Very Bad 13.4% 14.2%

Used Car Financing in Chicago

We are under continual barrage by advertising for new cars and trucks. Elevated rates of interest for used cars, however, are countered by cheaper down payments, monthly payments, and premiums. Here, we examine the costs of financing a car that’s new versus a few years old.

Age Price APR Months Payment Interest Total
New $23,250 6.00% 60 $449.49 $3,719 $26,969
1 Year $18,600 7.50% 60 $372.71 $3,762 $22,362
2 Years $15,810 7.50% 60 $316.80 $3,198 $19,008
3 Years $13,439 7.50% 60 $269.28 $2,718 $16,157

Are you considering pre-owned car or truck? Used car loans come with slightly higher rates of interest, but in most situations, you only need 10% down, and the insurance premiums are cheaper.

Bad Credit Car Loans in Chicago

FICO ratings of less than 680 are normally considered subprime, and those below 620 are simply deemed bad. Nothing is more humiliating than having your credit rejected at the dealership. Most of the time, it’s best to work with a specialist who can take you through the process.

Whenever possible, you should avoid going to a no credit check car dealership. These buy here pay here dealers are infamous for consumer abuses. The cons are noteworthy, including inflated rates and rigid terms. It is best to avoid these car lots if at all possible, obtaining an auto loan via the web. The down payments are lower, the same as the rates, and the service tends to be much better.

Contact an auto finance professional in your area today.

Can a Car Loan Improve Your Credit?

A car loan can be a highly effective way to raise your credit, but it’s crucial to make your payments in a timely manner. There isn’t any instantaneous increase in your credit score. Rather, it should increase slowly but surely over time. Make sure to sign up for automatic payments, as this will prevent you from forgetting payments.

Chicago Resources

Credit Unions

Credit UnionAddressZipTelephone
74th Street Depot1815 W 74th St60636(773) 476-4822
77th Street Depot210 W 79th St60620(773) 846-7137
77th Street Depot3112 W Foster Ave60625(773) 478-0574
Access600 W 26th St60616(708) 343-0228
Acme Continental55 E Jackson Blvd60604(312) 822-4986
Actors557 W Randolph St60661(312) 775-6216
Aeco3001 N Rockwell St60618(773) 267-3600
Alliant11545 W Touhy Ave60631(800) 328-1935
American AirlinesO'Hare Intl Airport AA Cargo Building60666(773) 686-2628
American Airlines5600 Mannheim Rd60666(773) 686-4498
American Broadcast Employees190 N State St60601(312) 899-4104
Apollo Credit Inc3209 W 62nd Pl60629(773) 476-8489
Archer Heights6554 W Archer Ave60638(773) 229-1500
Austin-West Garfield FCU4909 W Division St60651(773) 287-1545
Bagumbayan1332 W Irving Park Rd60613(773) 830-1275
Berean5147 S Dearborn St60609(773) 924-0381
Bethel A.M.E. Church4448 South Michigan Avenue Church60653(773) 548-1535
Beverly Bus Garage1702 E 103rd St60617(773) 731-8435
C T A F C14 S Ashland Ave60607(312) 243-5190
C T A S S & U7801 S Vincennes Ave60620(773) 873-7101
Caballeros De San Juan2359 N Washtenaw Ave60647(773) 278-8660
Chgo Fire-Fighters Credit Union5914 S Pulaski Rd60629(773) 581-5253
Chicago Area Office600 W Madison St60661(312) 575-5600
Chicago Avenue Garage642 N Pulaski Rd60651(773) 533-1300
Chicago Fire Officers' Association10231 S Western Ave60643(773) 445-1700
Chicago Firefighters6230 S Central Ave60638(773) 581-5253
Chicago Firemans Assoc2453 S Archer Ave60616(312) 791-0834
Chicago Lee2223 S Wentworth Ave60616(312) 842-1404
Chicago Municipal Employees CU33 N LaSalle St #30060602(312) 236-2326
Chicago Municipal Employees CU4409 W Division St60651(312) 236-2326
Chicago Municipal Employees CU33 N LaSalle St60602(312) 236-2326
Chicago Municipal Employees CU4909 W Division St #10060651(773) 287-1545
Chicago Patrolmens1407 W Washington Blvd60607(312) 726-8814
Chicago Patrolmens5310 N Harlem Ave60656(312) 499-8855
Chicago Patrolmens2766 W 111th St60655(773) 298-2092
Chicago Post Office Employees10027 S Western Ave60643(773) 881-2500
Chicago Post Office Employees10025 S Western Ave60643(773) 881-2500
Chicago Post Office Employees433 W Harrison St60607(312) 431-8945
College And University208 W Kinzie Street First Floor60610(312) 755-0997
College And University208 W Kinzie St60654(312) 755-0997
Commanding Officers And Sergeants3510 S Michigan Ave60653(312) 745-5135
Community4610 S Prairie Ave60653(773) 373-8518
Corey Steel Emp.POST OFFICE BOX 513760680(708) 735-8000
Corporate America Family233 E Wacker Dr60601(312) 819-8063
Cosmopolitan5259 S Wabash Ave60615(773) 536-3614
Credit Union 1435 N Michigan Ave60611(312) 836-9910
Credit Union Congress Llc3026 W Montrose Ave60625(773) 539-2500
Cta - C And M3900 W Maypole Ave60624(773) 826-9222
Cta South7701 S Vincennes Ave60620(773) 783-5693
D'Puc33 S State St #810960602(312) 793-5721
Ethicon Suture5235 W 65th St60638(708) 728-0225
Fellowship Baptist Church4543 S Princeton Ave60609(773) 373-8537
First Financial6601 N Ridge Ave60626(773) 338-1000
First Northern230 W Monroe St #285060606(312) 332-6357
First Northern259 E Erie St60611(312) 394-8500
First Northern230 W Monroe St60606(312) 332-6357
Future's Finance UnionChicago60628(773) 468-9740
Good Shepherd5700 S Prairie Ave60637(773) 684-6561
Great Lakes230 S LaSalle St60604(312) 322-2372
Greater Institutional A.M.E. Church7800 S Indiana Ave60619(773) 873-0880
Health Care Associations225 N. Michigan Ave 2nd Fl.60601(312) 297-6088
Homeowers Association Credit Union3325 W Belmont Ave60618(773) 478-4880
Israel MethcommPO BOX 1914460619(773) 483-1131
Israel Methcomm7620 S Cottage Grove Ave60619(773) 483-1131
Kedzie Avenue Depot358 S Kedzie Ave60612(773) 722-2525
Limits Depot4041 N Maplewood Ave60618(773) 539-8723
Limits Depot3369 W Lawrence Ave60625(773) 539-8723
M.W.P.H. Grand Lodge Of Illinois809 E 42nd Pl60653(773) 538-1488
Maroon Financial5525 S Ellis Ave60637(773) 702-7179
Metro Fellowship5856 S Wabash Ave60637(773) 256-0330
Monumental729 E Oakwood Blvd60653(773) 924-2261
Mwrd Employees100 E Erie St60611(312) 751-3111
North Side Community1011 W Lawrence Ave60640(773) 769-5800
North Side Federal Credit Union Inc4753 N Broadway St60640(773) 561-9918
North Side L4753 N Broadway St #103460640(773) 561-9876
Park Manor Christian Church600 E 73rd St60619(773) 483-0840
Peoples Energy130 E Randolph St60601(312) 240-4970
Phone-Co.225 W Randolph St60606(312) 372-6264
Pilgrim Baptist3300 S Indiana Ave60616(312) 842-6666
Planites300 E Randolph St60601(312) 653-6371
Quorum7300 S Kedzie Ave60629(773) 918-8487
R & S Employees Credit Union6515 W Grand Ave60707(773) 745-9227
Resurrection Lutheran9349 S Wentworth Ave60620(773) 995-6441
Rrb Federal Credit Union844 N Rush St60611(312) 266-7240
Selfreliance Ukrainian American2332 W Chicago Ave60612(773) 328-7500
Selfreliance Ukrainian American5000 N Cumberland Ave60706(773) 589-0077
Shiloh Englewood7058 S Racine Ave60636(773) 651-1750
Sourceone542 S Dearborn St #41060605(312) 922-0495
Sourceone542 S Dearborn St60605(312) 922-0495
South Division2558 W 16th St60608(773) 788-3062
South Division2735 W 69th St60629(773) 884-9300
South Division350 N Orleans St60654(312) 321-2680
South Division820 S Damen Ave60612(312) 243-8592
South Side Community5401 S Wentworth Ave #2560609(773) 548-5500
South Side Community5401 S Wentworth Ave60609(773) 548-5500
Southwest Chicago Chapter555 W 31st St60616(312) 225-1258
St. Elizabeth'S50 E 41st St60653(773) 268-1518
St. Gregory Parish5545 N Paulina St60640(773) 561-5493
St. Gregory Parish1609 W Gregory St60640(773) 561-5493
St. Helena Parish10115 S Parnell Ave60628(773) 239-5100
St. Jude205 W Monroe St60606(312) 544-8213
St. Mark8441 S St Lawrence Ave60619(773) 846-4433
St. Martin De Porres ParishPO Box 2417460624(773) 626-0776
Synergy Partners11615 S Avenue L60617(773) 646-3000
Synergy Partners Credit Union11615 South Avenue Ouest60617(773) 646-3000
Trinity U.C.C.400 W 95th Pl60628(773) 966-1505
U. S. Employees230 S Dearborn St #296260604(312) 922-5310
U. S. Employees230 S Dearborn St60604(312) 922-5310
U. S. Employees610 S Canal St60607(312) 922-5310
Ukrainian National Credit Union2315 W Chicago Ave60612(773) 489-6069
Unified Homeowners Of Illinois6205 W Montrose Ave60634(773) 739-0230
UniqemaS Loomis St60607(773) 376-2116
Uniqema4650 S Racine Ave60609(773) 843-7590
United4444 S Pulaski Rd60632(773) 376-6000
United1526 E 55th St60615(773) 843-8900
United5901 N Cicero Ave60646(773) 843-8500
United Credit Union5901 N Cicero Ave #10660646(773) 843-8500
Upwa District #1 Area 51649 W Adams St60607(312) 243-8288
Win-Hood Co-Op6149 N Wolcott Ave60660(773) 761-3400