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Old National Bank Auto Loan Calculator, Interest Rates & Overview

Updated 5 Sep 2023

Fact checked

A quick review of Old National Bank auto loans

In June 2021, Old National Bank (ONB) merged with First Midwest Bank and is now the top 35 largest U.S. bank. Old National offers low-cost auto financing choices with flexible terms stretching up to 84 months. Plus, you can fund a selection of vehicles – cars, trucks, boats, RVs, campers, motorcycles, snowmobiles, and more.

Want to see what an ONB auto loan will cost? Try the Old National Bank auto loan calculator below! All you have to do is enter your desired loan amount and term to see an estimate. You can use the calculator to adjust your loan amount and term to see how it might affect your monthly repayments.

Key Old National Bank auto loan features

Minimum loan amount: Undisclosed.
Maximum loan amount: Undisclosed.
Interest rates: From 6.879% APR.
Loan terms: Up to 84 months.
Loan fees: $175 processing fee (financed into the loan).
Discounts: Rate discount with autopay from an Old National deposit account.

OLD NATIONAL BANK LOAN OPTIONS

New and used auto loans

Old National Bank has workable financing and refinancing options. With rates starting as low as 6.879% APR, you can finance your ride for up to 84 months. You can choose from new and pre-owned cars and trucks.

Boat, RV, and specialty vehicle loans

Whether you want to hit the open road or cruise the water, you have options at ONB, too. The bank has loans specifically for boats, RVs, motor homes, campers, motorcycles, snowmobiles, and ATVs. To know the rates you qualify for, you can reach out to Old National Bank and get pre-approved.

Old National Bank auto loan calculator

Loan amount

Term

Provider

Product Information

EST Monthly
Repayment

Interest
Rate

Repayment
Period

Loan
Amounts

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Loan Amount

$25,000

Term

60 months

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Estimated Month Repayments

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

How to apply for an Old National Bank auto loan

Eligibility criteria

While the bank doesn’t specify the requirements, you usually need to be:

18 years or older
Employed or have a reliable source of income

Aside from knowing the criteria you need to satisfy, it also helps to be aware of the steps to get a car loan. Understanding the process can make your application easier and help you assess your options better. This way, you can make guided loan decisions.

What you’ll need to have ready

When you apply for auto financing with Old National Bank, you’ll be asked to provide personal information such as:

An email address
Your full name
Address
Social Security number
Employment information
Income details
U.S. citizenship status
A list of monthly expenses

You may need to provide ONB with additional documents to complete your loan request. These documents may include a purchase agreement or bill of sale, car registration and title, instructions for buying out a lease, proof of income (such as federal tax returns and W-2s), and financial statements.

In case you’re refinancing an existing auto loan, the bank may ask for more information, too. For example, you may need to indicate the car’s make, model, year, and mileage. So, ensure you prepare the necessary documents to make your loan application quicker.

Ways to apply for an Old National Bank auto loan

Apply online by clicking the GO TO SITE link in the table below
Visit a branch
Call 877-427-7220

Additional Old National auto loan details

Automatic payment: Available.

Loan approval times: Undisclosed, but it may be anywhere from 1 business day to a few weeks based on your application.

Rate discounts: 0.25% APR off for customers who set up autopay from an Old National deposit account.

Repayment frequency: Monthly.

Late payment fees: Undisclosed.
Prepayment penalty: Undisclosed.

Co-borrowers allowed: Undisclosed.
Co-signers: Undisclosed.

Ways to repay: Digital banking, auto payments, by mail, and over the phone.

Hardship program: Undisclosed.

Vehicle restrictions and limitations

Maximum vehicle age: Undisclosed. But typically, you can finance vehicles up to 10 years old.
Maximum vehicle mileage: Undisclosed.
Other vehicle restrictions: Undisclosed.

PROS AND CONS

Pros

Longer repayment terms.
Automatic payments available.
0.25% rate discount with autopay.
Several vehicles available – cars, trucks, boats, motor homes, RVs, campers, motorcycles, snowmobiles, and ATVs.
Purchase and refinance available.
Pre-approval available.
Customers in good credit standing may qualify for lower interest rates.

Cons

$175 processing fee.
Undisclosed minimum and maximum loans.
Unspecified vehicle restrictions.
Undisclosed late fees and prepayment penalties.

Frequently asked questions

Can I apply for an Old National Bank auto loan online?

To apply, you can call 877-427-7220 or visit a local branch near you.

Will applying for a car loan with ONB affect my credit score?

Like any other loan, applying for an auto loan requires the bank to make a hard credit check. This will then appear on your credit report and decrease your score by a few points. Remember though that this is only temporary. So, ensure you make consistent timely payments to build your credit score.

What is the maximum length of an Old National Bank car loan?

Old National Bank’s auto loans extend up to 84 months.

Does ONB refinance auto loans?

Yes. You can take advantage of the bank’s auto refi to get more competitive rates or workable loan terms.

How do I pay my auto loan at Old National Bank?

You have multiple ways to pay your car loan. You can do it through digital banking, auto payments, mail, and the phone.

Video: Enroll in digital banking on the ONB mobile app

Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.