Car Loan Calculator Detailed for Illinois

Calculate by State >  Illinois 

How are car loans in Illinois calculated?

Illinois includes the sale price and the doc fee in the taxable amount of an auto loan but does not include the trade-in value.

Therefore, car buyers get a tax break on trade-in vehicles in Illinois.

The exact tax rate may vary for your location. See our manual car tax calculator, and use the override option to fine tune your auto loan quote.

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Cost Breakdown

In our calculation, the taxable amount is $ which equals the sale price of $ plus the doc fee of $ minus the trade-in value of $.

DMV fees are about $ on a $ vehicle based on a flat fee that fluctuates depending on vehicle type.

View the Illinois state fee schedule to verify your registration cost, and use our DMV Override to adjust the calculator.

Consumer Advice

Prepaid maintenance plans, extended warranties, and GAP insurance are not taxed in Illinois and provide considerable savings over paying down the road. You can include maintenance on the warranty line of the calculator for accurate handling.

The documentation fee is set by the dealer, but is not negotiable so expect it on the purchase agreement. The customary doc fee of $169 is the maximum allowed by the State of Illinois.

Dealer Quote

Thank you for considering our dealership for your new vehicle! I can offer you a net price of $ which equals the dealer sale price of $ minus the factory rebate of $.

I can purchase your trade vehicle for $, payoff your loan up to $, and apply the balance of $ to this purchase. The estimated tax and registration combined is $, but this may vary based on vehicle type. Our required dealer documentation fee is $.

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