As of January 1, 2015 a new Illinois tax law can save you thousands on your next lease!
Before this law was enacted, lessees were required to pay taxes on the full cost of the vehicle, even though a lease is just a short-term rental. Now lessees are only required to pay taxes on their down payment and monthly payments. This could save you 50% or more in taxes!
Before the law, a suburban Cook County resident leasing a $30,000 car would pay $2,475 in sales tax*. Under the new law, tax on the same vehicle would be only $1,056^. That’s $1,419 in savings over the course of your lease!
With these savings you can lower your monthly payments on the same car, or make an upgrade and get more car for less money! The choice is yours!
These additional savings will make it easier than ever to lease because your dollar goes farther! You can upgrade to a new vehicle every 3 or 4 years, so you’ll always be up to date on all the newest car technology.