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Illinois Trade-In Tax Law

On January 1st, 2020 the vehicle trade-in law will change. Governor Pritzker signed a bill in June 2019 that makes a vehicle trade-in, with value above $10,000, include a state and local sales tax. The tax revenue will be going to Illinois infrastructures such as building renovations and more.

Illinois currently collects no sales tax on a car’s trade-in value, which acts as credit toward a new vehicle purchase. According to the bill, sales tax only applies to the difference between the trade-in value and the new vehicle’s purchase price.

Illinois Trade Tax Law

New Ford Models for sale near Oak Park, IL

New Ford Models for sale near Oak Park, IL

Why Roesch Ford in Bensenville, IL?

While car trade-ins will become more expensive, you can always count on a fair deal at Roesch Ford. We offer great deals on new and used vehicles and will do our best to find the right vehicle for your lifestyle. When you trade-in a vehicle at Roesch Ford, you can always rely on an honest assessment and the best price you can get for your vehicle. As vehicle sales become more complicated, you can rely on us to explain to you all the details and save you money. Come in today and trade-in a vehicle at a fair price.