The State of Illinois collects no sales tax on the value of your trade-in vehicle, but this is changing January 1!
Currently, the State of Illinois collects no sales on a car’s trade-in value, which acts as credit toward a new vehicle purchase. By law, sales tax only applies to the difference between trade-in value and the new vehicle’s purchase price.
If you were planning to buy a car in 2020, it would make sense to buy before the end of 2019 to avoid the higher sales tax.
Come in a check out our inventory before they sell out and before the deadline!