New Illinois Sales Tax Law

 

Lease Logo

The New Illinois Sales Tax Law is Good News for Chicago Area Drivers Looking to Lease a Car

As of January 1, 2015, a new Illinois sales tax has become law, which will make leasing a car more affordable than ever. Here at Porsche Barrington, your premier Chicago area Porsche dealer, we are absolutely thrilled at the savings this new law will provide for our valued customers. There is really no better time to lease one of our dynamic and elegant Porsche vehicles, and save hundreds of dollars at the same time!

How the Law has Changed

The way the sales tax law worked before January 1, 2015, anyone leasing a car was required to pay taxes upon the complete capitalized cost of the vehicle. When leasing a vehicle worth, say $30,000, with an 8.25 percent vehicle sales tax, your tax bill would amount to $2,475.

The new sales tax law only taxes your downpayment and your monthly lease payment. That’s it. If your lease payment is $300 a month, then you only pay an additional $24.75 a month in taxes. If we use the $30,000 car example above, you save $1,419 in taxes—that’s more than a 50 percent savings over last year.

Leasing a Car has Never Looked So Good

We’re expecting a lot of interest from our Chicagoland customers in leasing one of our luxury performance Porsche vehicles. We carry the full line-up of new Porsche models, as well as a wide selection of used and certified pre-owned Porsche vehicles. Our very competitive prices, combined with the savings you’ll receive through the new sales tax law, means you’re going to be looking at some sensational lease offers the next time you visit our Porsche showroom near Chicago.

Learn More Today

Our sales and finance professionals are all looking forward to filling you in on all the details regarding the new sales tax law and how it effects the lease that we can offer you today. Please contact us if you have any questions, and come check out the deals we have for you today at Porsche Barrington!