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Posted: 1/31/2020 3:36:00 PM EDT
Just moved here so vehicle is registered out of state. Going to be selling probably at a dealership to make things easier and quicker. Anything I should know about in Illinois when selling especially when selling an out of state vehicle?
I have printed the "Sellers notice of sale" & a "Bill of Sale." Anything for sales tax?
Want to make sure I'm not going to end up getting screwed on taxes or registration fees after I sell for some reason or on the actual sale price because they have to pay for the registration.
Vehicle is a 2008 Suburban.
Link Posted: 1/31/2020 5:13:12 PM EDT
[#1]
You just sign the title over to them and they pay you, that's it.

Sales tax only comes into play when you purchase a vehicle.
Link Posted: 1/31/2020 8:27:48 PM EDT
[#2]
New law Jan 1 2020
If you trade in to a dealer,you have to pay a tax on that auto or truck your trading in.
Welcome to the shithole state.
Link Posted: 1/31/2020 8:53:52 PM EDT
[#3]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
New law Jan 1 2020
If you trade in to a dealer,you have to pay a tax on that auto or truck your trading in.
Welcome to the shithole state.
View Quote
No, you don't pay a tax on your trade in.

You used to get a sales tax credit for 100% of your trade in value, now the tax credit is limited to $10K of trade in value.

Pickups, etc. are exempt from the new limit. They still get full credit, same as always.
Link Posted: 2/1/2020 2:02:44 PM EDT
[#4]
Thx guys
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