US car payment calculator (all states)
Illinois' average new car price is approximately $42,000 in 2026, with used cars averaging around $26,500. Illinois charges a state vehicle sales tax of 6.25% plus local add-ons — bringing the effective rate to 6.25%–10.25% depending on location. In Chicago, the combined rate is approximately 10.25%, making it one of the highest effective vehicle tax rates in the Midwest. On a $42,000 new car in Chicago, total tax is approximately $4,305. Illinois stands out for strong consumer protections on dealer financing — dealers must refund full down payments and trade-in values if financing falls through. Auto loan rates range from 4.5%–6.5% for excellent credit to 13%–18% for subprime borrowers.
State: Illinois (illustrative tax %, fees, and rate pre-filled — edit as needed)
Chicago combined vehicle tax can reach 10.25% — calculator defaults to a mid-range IL rate; adjust for your city/county. Not a financing offer.
Check your state's rate — varies 0% to 10%+.
Typically $800–$2,500 depending on state and dealer.
Monthly payment
$718.88
Out-the-door price: $46,965
Amount financed: $42,765
Total interest paid: $8,994
Total cost of vehicle: $55,959
Cost breakdown
| Vehicle price | $42,000 |
| Down payment | −$4,200 |
| Trade-in (net) | −$0 |
| Sales tax | +$3,465 |
| Title & fees | +$1,500 |
| Amount financed | $42,765 |
| Total interest | +$8,994 |
| Total cost | $55,959 |
| Credit score | New car (illustrative) | Used car (illustrative) |
|---|---|---|
| 781–850 (Exceptional) | 5.5–7% | 7–9% |
| 661–780 (Good) | 7–9% | 9–12% |
| 601–660 (Fair) | 9–13% | 12–17% |
| 501–600 (Poor) | 13–18% | 17–22% |
| 300–500 (Very Poor) | 18–25%+ | 22–29%+ |
Illustrative ranges only. Actual rates depend on lender, loan term, and your full credit profile.
| Location | State Tax | Local Add-On | Total Rate | On $42,000 |
|---|---|---|---|---|
| Chicago | 6.25% | 4.0% | 10.25% | $4,305 |
| Cook County (suburbs) | 6.25% | 1.75% | 8.0% | $3,360 |
| Springfield | 6.25% | 2.0% | 8.25% | $3,465 |
| Most Illinois cities | 6.25% | 1.0%–2.0% | 7.25%–8.25% | $3,045–$3,465 |
Illinois' base vehicle sales tax is 6.25%, but Chicago's local add-ons push the total to 10.25% — one of the highest combined vehicle tax rates in the Midwest. On a $42,000 new car in Chicago, tax is approximately $4,305. Outside Chicago, effective rates of 7.25%–8.25% are more common in suburban and downstate Illinois.
| Credit Profile | Typical APR | On $40,000 / 72 months |
|---|---|---|
| Excellent (700+) | 4.5%–6.5% | $643–$678/month |
| Prime (660–699) | 8%–11% | $718–$768/month |
| Fair (620–659) | 13%–15% | $803–$843/month |
| Subprime (below 620) | 18%+ | $900+/month |
Illinois has some of the strongest consumer protections for car buyers in the United States. Under Illinois law, if a dealer financing arrangement falls through after you've taken delivery of the vehicle, the dealer must return your full down payment and trade-in vehicle (or trade-in value). This protects buyers from the 'yo-yo' financing scam where dealers call back buyers days later demanding more money or a higher rate. Illinois also requires dealers to clearly disclose all financing terms before signing, making Illinois one of the safest states for dealer-financed car purchases.
Illinois has no active statewide EV rebate in 2026 following changes to federal programs. Some Chicago metro area rebates for EV charging infrastructure linger from earlier programs. Federal EV purchase credits ended for most vehicles after September 30, 2025. Illinois is home to major auto manufacturing facilities and has a strong dealer network — particularly in the Chicago metro area — offering manufacturer incentives on EVs and hybrids.
Illinois charges a 6.25% state vehicle sales tax plus local add-ons. In Chicago, the total combined rate is 10.25% — on a $42,000 car, tax is approximately $4,305. Outside Chicago, effective rates are 7.25%–8.25% in most Illinois cities. Cook County suburbs typically see rates around 8.0%.
Car loan rates in Illinois range from 4.5%–6.5% for excellent credit (700+) to 8%–11% for prime borrowers and 13%–18%+ for subprime. Illinois has a large network of credit unions and community banks in the Chicago metro area offering competitive rates.
Illinois has strong dealer financing protections. If dealer financing falls through after delivery, the dealer must return your full down payment and trade-in vehicle or value — protecting against 'yo-yo' financing scams. Illinois also requires full disclosure of financing terms before signing. These protections make Illinois one of the safest states for dealer-financed purchases.
Illinois has no active statewide EV rebate in 2026. Some Chicago metro area charging infrastructure rebates remain from earlier programs. Federal EV purchase credits ended for most vehicles after September 30, 2025. Manufacturer incentives on EVs and hybrids remain available through Illinois dealers.
Illinois charges 6.25%–10.25% vehicle sales tax depending on location — higher than Indiana (7%), Wisconsin (5%), Iowa (5%), or Missouri (4.225%). Chicago's 10.25% is one of the highest combined vehicle tax rates in the Midwest. Buyers near state borders sometimes register vehicles in neighboring states to reduce tax burden.
Most Illinois lenders prefer 660+ for competitive rates. Scores of 700+ qualify for the best rates (4.5%–6.5%). Chicago's large credit union network — including Alliant Credit Union and Illinois credit unions — often offers competitive rates for members. Scores below 620 face rates of 13%–18%+.
Educational estimates only. Not a loan offer.