Warning: include() [function.include]: URL file-access is disabled in the server configuration in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include(http://www.hurryloan.com/rightbar.php) [function.include]: failed to open stream: no suitable wrapper could be found in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include() [function.include]: Failed opening 'http://www.hurryloan.com/rightbar.php' for inclusion (include_path='.:/usr/local/share/pear') in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78   Go Back To Search Results Question Does anybody know what the usury laws for car loans in Illinois are? I know the usury law in Illinois is 9%, but everywhere I try to research for bank and auto loans, it says that can be a different rate, but nowhere does it say what the highest rate allowed by law is. Can anyone help on this matter? Thanks so much! By Go White Sox™ Posted on 03/11/09 Total Answers 2 Answers- The key is that the highest rate allowed by Illinois law for banks domiciled in Illinois is 9%. However, states do not have teh power to regulate interstate commerce, so a bank which is domiciled elsewhere but does business in Illinois has the option of charging either the 9% Illinois maximum rate or the maximum rate as set by the state in which the bank is domiciled (is registered). Since a number of states have no usury laws (Delaware and Georgia for example), this is where banks tend to domicile and as such, they are not regulated by usury laws where they do business. Answer by : Steve D On Date 2009-03-11 20:58:32 You're correct that the usury rate in Illinois is 9% however, there are many exception...........real estate loans,business loans and loans to corporations and many others. Google usury rate in illinois for the details. Answer by : Rusty On Date 2009-03-12 05:15:36   Go Back To Search Results