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 us at 800-639-2277 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: 6:30AM – 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 – Saturday: 9:00AM – 6:00PM
Sunday: Closed

Service Hours

Monday – Friday: 8:00AM – 5:30PM
Saturday: 8:00AM – 3:00PM
Sunday: Closed

Parts Hours

Monday – Friday: 9:00AM – 5:00PM
Saturday – 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 – 6:00PM
Saturday: 8:00AM – 4:00PM
Sunday: Closed

Parts Hours

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

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800-639-2277

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5757 W Touhy Ave • Niles, IL 60714

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Berman Auto Group

5757 W Touhy Ave Niles, IL

Phone: 800-639-2277

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42.011414 -87.771125
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Berman Auto Group
Berman Auto Group
lgarcia@berman.com
5757 W Touhy Ave
Niles, IL, 60714 US
800-639-2277
https://www.berman.com/wp-content/themes/DealerInspireDealerTheme/images/logo.png
Berman Auto Group 42.011414, -87.771125.