Improved Vehicle Tax Law

 

The New Illinois Sales Tax Law Makes Leasing a Vehicle a More Affordable Option

The new Illinois sales tax law, which went into effect January 1, 2015, is going to be great for Chicagoland drivers who are looking to lease a vehicle. Under this new law, the cost of leasing a car could be reduced by 50 percent or more. We here at Motor Werks Porsche in Barrington couldn’t be more thrilled with the opportunity to pass these substantial savings on to our valued customers. There has never been a better time than now to lease one of the exciting new Porsche vehicles featured at our Chicago area Porsche dealership.

Changes to the Sales Tax Law

Formerly when entering a car lease, the lessee had to pay taxes based upon the total purchase price of the vehicle. If the car was priced at $30,000 then the tax would have been $2,475 at 8.25 percent vehicle tax. The new law requires that the lessee pay taxes only on their downpayment and monthly lease payments. For example, if you were to pay $2,000 down you would have to pay a tax in the amount of $165. If your lease payments are $300 a month, then your tax is $24.75 a month. As this plays out across a 36 month lease, your total tax bill would be $1,056. That’s a savings to you of $1,419!

Lease the Car You Want for Less Money

We expect to see a lot of interest in leasing a vehicle from Chicagoland drivers here at Motor Werks Porsche in Barrington. And why not? With the savings made possible by the new sales tax law, this is the perfect time to lease a superior luxury performance vehicle like a Porsche. We have a great inventory featuring all of the dynamic new Porsche models, and with our finance experts ready to help you secure the best available terms and rates on a car lease, you are sure to get a terrific deal.

Find Out How Much You Can Save Today

Stop by our Porsche showroom near Chicago and allow us to fill you in on all the details regarding the new Illinois sales tax law and how you can save on a car lease today. We are located at 1475 S. Barrington Rd., across the street from the Oaks of Barrington, in Barrington. Please contact us if you have any questions, and come check out the great lease options available today at Motor Werks Porsche in Barrington!