Compare Current Auto Loan Rates in Bloomington, IL

With myAutoloan, you can compare up to four lenders in minutes! It's easy to find and compare the best auto loan rates in Bloomington, IL, whether you're buying a used or new vehicle or refinancing an existing loan. Apply now to see today's lowest rates!

Three things to know…

Today's Interest Rates

  • Check out today's lowest rates for all loan types.

  • SEE RATES

Your Estimated Rate

  • Check your rate in seconds. No credit check. Find out before you apply.

  • See Estimator

Your Payment

  • Now that you know your interest rate, see how much you could afford.

  • See Calculator

More Information

How Are Bloomington, IL Car Loan Rates Determined?

Several factors impact your Illinois car loan rate, including the loan amount, your credit score, your income, the down payment, your loan's term (the length of the loan), and the car's age. A poor credit score, low income, or buying an older vehicle from a dealer in Bloomington could result in a higher interest rate. But why worry about a high interest rate? The higher your interest rate is, the more you pay each month and the more you spend in total. A difference of one or two percent might not seem like much, but it could mean spending hundreds more on interest.

How Can I Get a Lower Car Loan Rate in Bloomington, IL?

Online tools like our Interest Rate Estimator will give you a feel for what your rate might look like before having to apply for a car loan in Bloomington, IL. If you've supplied your information and don't like the percentage you see, what steps can you take to lower it?

The loan term is one factor you can control. Most car loans in Bloomington are available with terms in 12-month increments between 2 years (24 months) and 7 years (84 months). Many borrowers take longer terms because they usually mean a lower monthly payment. But longer terms tend to also come with higher interest rates. If your budget allows for a higher monthly payment, it's smart to choose a shorter term. The Auto Payment Calculator shows what your monthly payment might be with different interest rates and terms to help you decide what you can afford.

If you have less than stellar credit, increasing your score could decrease your interest rate. Our Guide to Better Credit for Auto Financing can help you understand where your credit score comes from and the steps you can take now to raise it quickly. Your credit score may take some more time and work, but it's worth it to get those lower Illinois car loan rates.

Taking the time to hunt down the right lender can also help you snag a lower rate. While lenders will look at the same information, you won't see the same interest rate from each one. You need to compare offers and shop around for the best auto loan rate in Bloomington, IL — even without the best credit or income. You don't want to choose the first offer you get because there might be a better one just around the corner. Plus, some lenders are open to negotiation, so you can take an offer from one lender to the next to see if they'll beat the interest rate.

Find the Best Auto Loan Rates in Bloomington, IL with myAutoloan

myAutoloan is committed to helping you find the lowest auto loan rates in Bloomington, IL no matter what type of car you're buying or your credit score. You can see up to four loans at once so you can find the perfect loan. Fill out our simple and secure online application, pick the loan that works best for you, and purchase a new ride from your {City}} dealer. Don't wait to apply and check today's lowest interest rates!

Vehicle loans to meet your needs…

Compare and save. Get up to 4 offers in minutes!

Our Customers Love Us: