Question: What Is The Sales Tax On A Car In Illinois?

What is the used car sales tax in Cook County?

8.25% in suburban Cook County.

7.25% outside of Cook County and Chicago.

An additional $15 new vehicle county flat fee for cars and SUVs..

How do I calculate taxes and fees on a used car?

Multiply the sales tax rate by your taxable purchase price. For example, if the total of state, county and local taxes was 8 percent and the total taxable cost of your car was $18,000, your sales tax would be $1,440.

How much will license plates cost in Illinois in 2020?

According to the Chicago Tribune: To support transportation-related projects, the bill increases license plate fees by $50 to $151 annually, starting with the 2020 registration year.

How much does it cost for plates and registration in Illinois?

Standard tax, title and license fees charged on a new vehicle in Illinois are as follows: Sales Tax: 7.25% (additional county taxes may also apply) Title Fee: $150. License and Registration Fee: $151.

How much does it cost to transfer title and registration in Illinois?

Correct fee for title is $150.00, transfer of plate fee is $25.00. registration fees vary depending on the type of plates required for the particular vehicle.

Do you pay tax when buying a car from a private seller?

When you purchase a vehicle through a private sale you must pay the associated local and state taxes. … In most cases, that will fulfill your tax obligation. However, if you do not bring sufficient documentation, they may ask you to pay sales tax in your state, too.

How much tax do you pay on a car in Illinois?

Fast, Free Auto Insurance QuotesDMV or State FeesVehicle sales tax (for vehicles sold by a dealer)Usually 6.25% but can vary by locationVehicle use tax (for vehicles purchased from another individual or private party)Usually 6.25% but can vary by locationTitle Transfer Only Fee$2512 more rows

Who pays sales tax when selling a car privately in Illinois?

The buyer must pay $95 to the Secretary of State, and a tax to the Department of Revenue. For vehicles worth less than $15,000, the tax is based on the age of the vehicle. It starts at $390 for a one-year old vehicle.

Do you pay sales tax on a private car sale in Illinois?

Illinois private party vehicle use tax is based on the purchase price (or fair market value) of the motor vehicle, with exceptions noted on the right (i.e., for motorcycles and specific situations). … The fair market value may be obtained from a licensed dealer. Note: A trade-in deduction is not allowed on this tax.

Do you pay sales tax on a private party in Illinois?

The tax is imposed on motor vehicles purchased (or acquired by gift or transfer) from another individual or private party. (Sales of motor vehicles from registered Illinois dealers are taxed under the Retailers’ Occupation Tax Act.)

How much is tax title and license on a car in Illinois?

How much does it cost to title and register my vehicle in Illinois? The total fee for a standard vehicle is $301 ($150 vehicle title + $151 registration/license plates). If there are two names on the back of the title, do both parties have to sign title and registration applications? Yes.

How do I avoid paying taxes on a car?

How Can I Avoid Paying Sales Tax on a Car?Buy in one of the states with no sales tax on cars.Take advantage of sales tax exemptions.File for tax credits.