IL purchase tax question

dupa12345

Member
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P5
hey does anyone know for sure what's the deal with paying tax

i know when u buy a new or used car from a dealer you pay the 7-9% tax mandated by city county or whatever ..

now how are private sales handled .. do you have to pay tax when you register your car? if so how much?
 
If it's like MO, you have to present the bill of sale and they'll charge tax on the price listed on that. You can "cheat" if you get the seller to sign for less than the actual purchase price, but it could come back to haunt you if you have to prove you paid a certain amount of the car...say you buy a 1st gen Protege LX for $2,500 from an individual...you're supposed to put $2,500 on the bill of sale, but you could put any amount on that...could put $100(they might question you at the DMV though, but all you gotta say is that it needed an engine or it was a gift, etc etc) on there, then you'd only have to pay tax on $100. Buying from a dealership you have to pay tax on whatever you really paid for the car because there's more documentation and dealerships won't lie for you.

Don't know if it's different in the Ill state.
 
see am thinking there is way to completely not pay tax in private sale .. but i just dunno

i though of what you said though too
 
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