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The Drive for Extra Cash

An auto refinance may save you money or give you financial flexibility.

Apply for a Refi

AUTO REFINANCE LOANS FROM FIRST MIDWEST

With a First Midwest auto loan refinance you get great rates, generous credit criteria, and you don’t have to have equity in your car – borrow more than your car is worth!1 Plus, we offer an autopay discount of 0.25% to checking clients.2 See if an auto refi can help your budget!

Start Your Refi Application Now

 

See how we can help you save today!*

*The rate quote that will be provided in response to a request represents an estimate based on preliminary information provided by the client. It will not be representative of available product rates and terms based on the specific credit qualifications of the requestor. If specific product eligibility, rates and product terms are desired, an application will need to be submitted and authorized consent to pull a credit bureau report will need to be provided by the applicant. The only way to obtain exact rate and payment information is to apply.

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A BETTER RATE MEANS A BETTER BUDGET

Save money on interest if you refinance to a better rate. You could also lower your monthly payment, or shorten your term to speed up your payoff date. It’s up to you!

Apply Today

A young couple looking online for auto rates

LET US WORRY ABOUT APPROVALS

We have expanded our approval criteria, so don’t be shy about applying!

  • No equity required; borrow more than your car is worth1
  • Great rates and term options
  • Add some flexibility to your budget

Fill Out Your Application

HOW WOULD I SAVE WITH A NEW MONTHLY CAR PAYMENT?3

See a 36-Month Loan Example4

Example Auto Loan Refi

Current Loan Balance Refi with First Midwest
Loan Amount $20,137 $20,137
Sample Loan APR 10.58% 3.58%
Refinancing Cost $0 $150
Monthly Payment $653.11 $591.65
Savings Over Life of Loan None $2,062.56
See a 60-Month Loan Example5

Example Auto Loan Refi

Current Loan Balance Refi with First Midwest
Loan Amount $20,137 $20,137
Sample Loan APR 10.39% 3.70%
Refinancing Cost $0 $150
Monthly Payment $433.52 $368.70
Savings Over Life of Loan None $3,889.20
See a 72-Month Loan Example6

Example Auto Loan Refi

Current Loan Balance Refi with First Midwest
Loan Amount $20,137 $20,137
Sample Loan APR 10.34% 3.60%
Refinancing Cost $0 $150
Monthly Payment $378.10 $314.21
Savings Over Life of Loan None $4,450.08

Start Your Refi Application Today

Current Auto Loan Rates

View Rates

Refinancing Your Auto Starts Today

Get a Refi
A young couple researching auto rates

HOW OUR AUTOPAY DISCOUNT WORKS

Do these things and you qualify for a 0.25% auto loan discount.  

  1. Apply for an Auto Refinance.
  2. Open a First Midwest Checking account2. Or, if you already have one, skip this step!
  3. Set up Automatic Payments. Link your First Midwest Checking account2, so that it autopays your monthly loan.

Start Your Application

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Free Up Cash with an Auto Refi.

  • Loan Payment Deferral: Defer your first payment for up to 60 days.7 For example, if your monthly payment is $500, 60 days deferred payment means $1,000 in your pocket now.
  • Lower Your Monthly Payment – Extend Your Term:8 Take longer to pay and add flexibility to your budget. For example, if you have two years left on your loan, but you refinance into a five-year loan, your monthly payments would drop.
  • Lower Your Monthly Payment – Get a Lower Rate: You may qualify for a lower interest rate. Lower your monthly payments and save money over the life of the loan.
Start Now

1 Subject to credit approval. Vehicle insurance required. Rates are subject to change daily. Contact your First Midwest Banker for our current rates.
2 Discount requires auto payment set-up from First Midwest checking account. Health Savings Accounts are not eligible for the discount.
3 The Annual Percentage Rates (APRs), rates, and payments shown are for illustrative purposes only and do not factor in all personal financial circumstances required to decision a loan application. Your specific situation may warrant a higher rate and payment based on credit history, income, and other factors. Speak to a First Midwest Banker to get personalized rate and monthly payment quotes. Mileage cap of 200,000 miles on example of used vehicle.
4 The $20,137 current auto loan balance assumes 36 remaining monthly payments of $653.11 at a fixed interest rate of 10.060% and APR of 10.58%. The $20,137 refinanced auto loan amount is repaid with 36 monthly payments of $591.65 at a fixed interest rate of 3.10% and APR of 3.58% with no down payment; APR includes $100 documentation fee and 45 days of payment deferral. Rates are accurate as of 1/27/2021 and subject to change daily. Mileage cap of 200,000 miles on example of used vehicle.
5 The $20,137 current loan balance assumes 60 remaining monthly payments of $433.52 at a fixed interest rate of 10.060% and APR of 10.39%. The $20,137 refinanced auto loan amount is repaid with 60 monthly payments of $368.70 at a fixed interest rate of 3.40% and APR of 3.70% with no down payment; APR includes $100 documentation fee and 45 days of payment deferral. Rates are accurate as of 1/27/2021 and subject to change daily. Mileage cap of 200,000 miles on example of used vehicle.
6 The $20,137 current auto loan balance assumes 72 remaining monthly payments of $368.10 at a fixed interest rate of 10.060% and APR of 10.34%. The $20,137 refinanced auto loan amount is repaid with 72 monthly payments of $314.21 at a fixed interest rate of 3.60% and APR of 3.86% with no down payment; APR includes $100 documentation fee and 45 days of payment deferral. Rates are accurate as of 1/27/2021 and subject to change daily. Mileage cap of 200,000 miles on example of used vehicle.
7 Interest will be accrued during the payment deferral period.
8 Extending your loan term may result in you paying more interest over the life of your loan.