GOBankingRates Reports: 9 Lowest Auto Loan Rates in Chicago

As car prices rise and auto loan rates remain low, personal finance site GOBankingRates identifies the Chicago banks and credit unions with the lowest rates today

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GOBankingRates

Mar 17, 2014, 09:10 ET

CHICAGO, March 17, 2014 /PRNewswire/ -- Car prices are rising, yet auto loan rates remain low, at least for now; to get behind the wheel, American borrowers are taking out larger loans than ever before.

To help car buyers find the lowest auto loan rates from local financial institutions, GOBankingRates released a list of the best rates in Chicago.

"Although mortgage rates are increasing, auto loan rates are still relatively low," said Amanda Garcia, of GOBankingRates. "GOBankingRates consistently finds auto loan rates below 3% at many community banks and credit unions."

GOBankingRates also surveyed the average auto loan rates on the city, state and national levels.

Average New Auto Loan Rates:

	Chicago	Illinois	National
3-Year	3.05%	3.15%	3.26%
4-Year	4.84%	4.85%	4.01%
5-Year	2.39%	2.77%	3.58%

9 Lowest Auto Loan Rates in Chicago

No. 1- Great Lakes Credit Union's 3- and 4-Year* and American Airlines CU's 3-Year Auto Loans: 1.74%
No. 2- HealthCare Associates Credit Union's 3-Year Auto Loan: 1.95%
No. 3- Credit Union 1's 3-Year Auto Loan: 2.14%
No. 4- Bank of America's 5-Year and PNC Bank's 3-Year Auto Loans: 2.34%
No. 5- US Bank's 3-Year Auto Loan: 2.66%
No. 6- Chase Bank and Fifth Third Bank's 4-Year Auto Loans: 3.08%
No. 7- Wells Fargo's 4-Year Auto Loan: 3.24%
No. 8- American Airlines CU's 5-Year Auto Loan: 3.25%
No. 9- First Midwest Bank's 3-Year Auto Loan: 3.50%

About This Study

This study surveyed base rates for three-, four- and five-year auto loans from banks and credit unions in Cook County as of March 3, 2014. Data is from the GOBankingRates interest rate database, which partners with Informa Research Services Inc. to aggregate interest rates from more than 6,000 U.S. financial institutions.

Interest rates could change and accuracy cannot be guaranteed. Other terms and conditions could apply. All rates are shown in APR. *Interest rate reflects maximum discount.

About GOBankingRates

GOBankingRates.com is a personal finance website that connects consumers with the best interest rates nationwide. Its editors have been featured on U.S. News, Yahoo! Finance, Forbes, The Street, Huffington Post and more.

Contact:
Jaime Catmull
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310.297.9233 x261

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SOURCE GOBankingRates