How much is taxes and fees on a used car in Illinois?
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How much is taxes and fees on a used car in Illinois?
The state of Illinois charges a 7.25% sales tax rate on all vehicle purchases. County taxes range from 0.25% to 0.75%, while in the city of Chicago, you’re required to pay a 1.25% city tax. You should also keep in mind that you’ll have to pay the dealership a fee if they take part in putting together your documents.
How much tax do you pay on a car in Illinois?
The rate is 6.25% of the purchase price or fair market value, whichever is greater.
How much does it cost to transfer a car title in Illinois?
$95
In the state of Illinois, vehicle title fees are due at the time of transfer. Title fees in this state are $95. If you are coming from a different state, you have 30 days to officially transfer your vehicle title. If you have inherited or purchased a vehicle, you are required to register your vehicle within 20 days.
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). For most purchases, you will use Table A or B to determine the tax amount.
How much does it cost to title and register 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 $306 ($155 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?
How much is sales tax in Illinois?
6.25 percent
The Illinois’ general state sales and use tax rates are: 6.25 percent on general merchandise, including items required to be titled or registered by an agency of Illinois state government; and. 1 percent on qualifying foods, drugs, and medical appliances.
How much does it cost to transfer a car title and plates in Illinois?
How much does it cost to title and register my vehicle in Illinois? The total fee for a standard vehicle is $306 ($155 vehicle title + $151 registration/license plates).
