Beat the Tax Man Trade in Sale at Berman INFINITI Chicago

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 Berman INFINITI Chicago at (312) 476-8000 today! Want to have your vehicle appraised online? Use our fast and easy online appraisal tool and get a response in under an hour!

Dealer Information

Phone Numbers:Sales Hours:
  • Mon - Thu9:00 AM - 8:00 PM
  • Fri - Sat9:00 AM - 6:00 PM
  • SunClosed
Service Hours:
  • Mon - Fri6:30 AM - 7:00 PM
  • Sat8:00 AM - 4:00 PM
  • SunClosed
Parts Hours:
  • Mon - Fri7:00 AM - 6:00 PM
  • Sat8:00 AM - 4:00 PM
  • SunClosed

Berman INFINITI Chicago

1224 North Hooker Street, Chicago, IL, USA

Saved
Saved Vehicles ×

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact
Contact Us ×

Sales

(312) 476-8000

Call Now

Service

(312) 476-8020

Call Now

Parts

(312) 476-8025

Call Now

1224 N. Hooker St • Chicago, IL 60642

Get Directions

Today's Hours:

Open Today! Sales: 9am-8pm

Open Today! Service: 6:30am-7pm

Open Today! Parts: 7am-6pm

Berman INFINITI Chicago

1224 N. Hooker St Chicago, IL

Phone: (312) 476-8000

https://goo.gl/maps/pF1tMM9Fcj9yZxpD7
41.9045721 -87.6545955
[schema type="organization" orgtype="LocalBusiness" url="www.infinitichicago.com" name="Berman INFINITI Chicago" description="" street="1224 N. Hooker St" city="Chicago" state="IL" postalcode="60642" country="US" email="SCamp@Berman.com" phone="(312) 476-8000" logo="https://di-uploads-development.dealerinspire.com/bermaninfinitichicago/uploads/2018/08/BermanInfinitiChicagoOGImage.png"]
Berman INFINITI Chicago
Berman INFINITI Chicago
1224 N. Hooker St
Chicago, IL, 60642 US
(312) 476-8000
https://di-uploads-development.dealerinspire.com/bermaninfinitichicago/uploads/2018/08/BermanInfinitiChicagoOGImage.png
Berman INFINITI Chicago 41.9045721, -87.6545955.