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Beat the Tax Man Trade in Sale at Berman Auto Group

Illinois Car Trade-In Tax Changes Starting January 2020

Illinois is imposing a car trade-in tax on Jan. 1. Currently the state collects no sales tax on trade-in value, but that changes on Jan. 1. Under Senate Bill 690, signed June 28 by Gov. J.B. Pritzker, state and local sales tax will be applied to any trade-in value above $10,000.

Take for example, an Illinois resident buying a new vehicle for $35,000 and trading in their car valued at $20,000. Currently, they would only pay sales tax on the difference, or $15,000. The average sales tax on this transaction would be roughly $1,311. In 2020, trade-in credit above $10,000 will be taxed in addition to the difference between the new and used car prices. Sales taxes will be applied to $25,000 of the transaction, which will cost them $2,185 resulting in an extra $874 in sales tax after January 1, 2020.

New Illinois Trade-in Tax exemptions change example

Take advantage of current tax exemptions by calling your local Berman dealership today! Want to have your vehicle appraised online? Use our fast and easy online appraisal tool and get a response in under an hour!

Cambios en el impuesto de canje de automóviles de Illinois a partir de enero de 2020

Illinois está imponiendo un impuesto sobre el intercambio de automóviles el 1 de enero. Actualmente, el estado no recauda ningún impuesto sobre las ventas sobre el valor de intercambio, pero eso cambia el 1 de enero. Según Senate Bill 690, firmado el 28 de junio por el gobernador JB Pritzker, estado y el impuesto a las ventas local se aplicará a cualquier valor de intercambio superior a $10,000.

Tomemos, por ejemplo, un residente de Illinois que compra un vehículo nuevo por $35,000 y cambia su auto por un valor de $20,000. Actualmente, solo pagarían el impuesto a las ventas sobre la diferencia, o $15,000. El impuesto a las ventas promedio de esta transacción sería de aproximadamente $1,311. En 2020, el crédito de intercambio superior a $10,000 se gravará con además de la diferencia entre lo nuevo y lo usado precios de autos. Los impuestos sobre las ventas se aplicarán a $25,000 de la transacción, lo que les costará $2,185, resultando en un impuesto adicional sobre las ventas de $874 después del 1 de enero de 2020.

Nuevo ejemplo de cambio de exención de impuestos de intercambio de Illinois

¡Aproveche las exenciones fiscales actuales llamándonos al 800-639-2277 hoy! ¿Quiere que su vehículo sea evaluado en línea? Utilice nuestra herramienta de evaluación en línea rápida y fácil y obtenga una respuesta en menos de una hora.

Berman INFINITI of Chicago

1224 N Hooker St, Chicago, IL 60642 Service: 312-476-8000

Sales Hours

Monday – Thursday: 9:00AM – 8:00PM
Friday – Saturday: 9:00AM – 6:00PM
Sunday: Closed

Service Hours

Monday – Friday: 7:00AM – 7:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Parts Hours

Monday – Friday: 7:00AM – 6:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Berman INFINITI of Merrillville

1794 81st Ave, Merrillville, IN 46410 Service: 219-525-4500

Sales Hours

Monday – Thursday: 9:00AM – 8:00PM
Friday: 9:00AM – 6:00PM
Saturday: 9:00AM – 5:00PM
Sunday: Closed

Service Hours

Monday – Friday: 8:00AM – 4:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Parts Hours

Monday – Friday: 8:00AM – 4:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Berman INFINITI of Niles

5733 W Touhy Ave, Niles, IL 60714 Service: 847-828-8001

Sales Hours

Monday – Friday: 9:00AM – 9:00PM
Saturday: 9:00AM – 6:00PM
Sunday: Closed

Service Hours

Monday – Friday: 7:00AM – 7:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Parts Hours

Monday – Friday: 7:00AM – 7:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Berman Subaru of Chicago

4330 W Irving Park Rd, Chicago, IL 60641 Service: 773-382-8227

Sales Hours

Monday – Friday: 9:00AM – 9:00PM
Saturday: 9:00AM – 6:00PM
Sunday: Closed

Service Hours

Monday – Friday: 7:00AM -8:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Parts Hours

Monday – Friday: 7:00AM – 8:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Star Nissan of Niles

5757 W Touhy Ave, Niles, IL 60714 Service: 847-647-1555

Sales Hours

Monday – Friday: 9:00AM – 9:00PM
Saturday: 9:00AM – 6:00PM
Sunday: Closed

Service Hours

Monday – Friday: 7:00AM – 7:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Parts Hours

Monday – Friday: 7:00AM – 7:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Berman Nissan of Chicago

3456 N Kedzie Ave, Chicago, IL 60618 Service: 312-778-6228

Sales Hours

Monday – Friday: 9:00AM – 9:00PM
Saturday: 9:00AM – 6:00PM
Sunday: Closed

Service Hours

Monday – Friday: 7:00AM – 8:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Parts Hours

Monday – Friday: 7:00AM – 8:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

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5757 W Touhy Ave • Niles, IL 60714

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