How is Illinois vehicle sales tax calculated?

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 are taxes and fees on a new car 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 is sales tax in Illinois on a used vehicle?

6.25%
Illinois tax on new and used vehicles is generally 6.25% but can vary by location.

How much is tax title and license on a used 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).

What is RTA tax in Illinois?

Real Estate Transfer Tax The supplemental tax rate of $1.50 per $500 of the transfer price is imposed on all sales within the City for the purpose of providing financial assistance to the CTA.

What is the sales tax on a car in Cook County IL?

In case you were wondering, here’s what our state tax rates look like: 9.5% in the city of Chicago. 8.25% in suburban Cook County. 7.25% outside of Cook County and Chicago.

What is the doc fee in Illinois?

The maximum amount that dealers may charge will begin at $300 (2020) and shall increase annually, equal to the percentage of change in the Bureau of Labor Statistics Consumer Price Index. The allowable documentary service fee for 2020 is $300.

How much does a title transfer cost 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. If an original title is lost the vehicle owner can apply for a duplicate title.

How is CTA funded?

CTA generates revenue from both farebox collections and nonfarebox revenues, and also receives supplemental funding for operating expenses through the Regional Transportation Authority (RTA). The RTA was established in 1974 to oversee local transportation operators in the six-county Chicago metropolitan area.

What should you not pay for a new car?

Don’t believe them. Educate yourself and know what charges you should not pay when purchasing a new or used vehicle….10 Fees You Should Never Pay When Buying A Car

  • Extended Warranties.
  • Fabric Protection.
  • Window Tinting and Other Upgrades.
  • Advertising.
  • V.I.N.
  • Admin Fee.
  • Dealer Preparation.
  • Freight.