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The Drive for Extra Cash

An auto refinance could lower your monthly payment and give you financial flexibility.

Apply for a Refi


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.

Real Clients. Real Savings.

We make the refinancing process easy. Read about some recent experiences our clients have had with us! Plus, our Checking clients are eligible for a 0.25% auto loan discount.2

  • A banking client lowered his monthly auto payment by nearly $160.


    A banking client, T.J., had a car loan with a competitor. He had sent an electronic check from First Midwest for his monthly payment, only to be told it was never received. The dispute continued for a month and the company began initiating collections calls.

    In distress, T.J. reached out to a First Midwest Banker, who was able to confirm that the payment had been sent. Our Banker then personally called the competitor, found the person in charge, and provided documentation of T.J.’s payment. Within 45 minutes the situation was resolved.

    Frustrated with his experience with a competitor, T.J. was open to hearing about First Midwest’s auto refinance options. It turned out, we offered him a loan that fit his needs far better. By refinancing to First Midwest, T.J. was able to lower his monthly payment by nearly $160.

    And it all started by reaching out to a First Midwest Banker.

  • Banking client qualified for a rate with First Midwest that was more than 15 percentage points lower – and she could save over $250 a month in payments.


    A banking client, Kim, had an auto loan with a competitor, with an interest rate over 20%. When talking with a First Midwest Banker, she explained that when she applied, she had no credit score. That was the best rate she could get.

    Our Banker suggested she put in a refinance application with First Midwest and see what happens – since she’d been making her car payments on time for a year, she had likely built up a decent credit score.

    It turned out, she qualified for a rate with First Midwest that was more than 15 percentage points lower – and she could save over $250 a month in payments if she selected the longest term available. She ultimately chose a loan with a shorter term; she still received substantial monthly savings while reducing her overall interest costs and speeding up her payoff date.

    And it all started with a simple conversation with a First Midwest Banker.

  • Banking client lowered his rate by nearly nine percentage points, and saved $105 per month on his payments.


    Even if you’ve been previously declined, it may be worth another shot.

    James, a First Midwest client, had put in an application to refinance in October. He was declined because he owed more than his car was worth. However, First Midwest has since updated its loan-to-value ratio guidelines – we now can refinance clients who owe more than their car is worth.

    A First Midwest Banker knew of James’ situation and encouraged him to reapply – he might be approved this time. And, in fact, he was! He lowered his rate by nearly nine percentage points, and saved $105 per month on his payments.

    All thanks to reapplying after we expanded our credit guidelines.

A woman cleaning the outside of her car


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


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


**Calculations are for estimated analysis only. Results are not indicative of any actual loan terms or payment amounts. Please contact a Banker for current rates and to get your personalized rate quote.

Current Auto Loan Rates

View Rates

Refinancing Your Auto Starts Today

Get a Refi
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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.3 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:4 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

*Client name is changed to protect their identity. This client’s savings were greater than average.

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 payment deferral option allows a borrower to extend their first payment window from 45 days to 60 days following the date the loan closes. Optional payment deferral is subject to credit review and applicant’s credit qualifications. Interest continues to accrue during the payment deferral period.
4 Extending your loan term may result in you paying more interest over the life of your loan.