New Illinois Leasing Laws Help Drivers Save at Sunrise Chevrolet
Leasing has always been an economical option for those who want to upgrade to a newer, more advanced vehicle every few years. Now Illinois has made it easier and cheaper than ever for you to lease the car of your dreams. The new tax rules on leasing a vehicle mean that you’ll pay less than ever on a lease from Sunrise Chevrolet.
How Does the New Lease Law Work?
Previously, the dealership you were leasing from would have paid use tax for the whole value of the vehicle, and you wouldn’t have paid any sales tax at all. Now, the dealership you’re leasing from will pay all the tax on whatever you’re paying for the vehicle when you begin the lease. This includes the down payment, lease fees, monthly payments, and a lot of other charges.
Under the old rules, the dealership would have paid sales tax on the acquisition cost of a vehicle to lease, minus the assigned trade-in value. No further taxes would have been due. The new rules mean tax is charged only on the total lease payments, which means there’s less to pay tax on and you’re paying a lot less in leasing than you would have before.
Why Should You Lease A Car?
Leasing a car can be a great choice. The longer you own a car, the more wear and tear you’re going to put the car through, and more you’ll have to perform costly maintenance work on the car. With leasing, you’ll get a new vehicle every few years, and you’ll never have to worry about extra maintenance as the car reaches the end of its life. You’ll get to take advantage of the newest technology in cars, which means the newest safety and connectivity features. You can also try out new models just for fun without making a long-term commitment.
What’s Out There to Lease?
Sunrise Chevrolet has a great selection of cars to lease. Check out the Chevy Camaro, a classic sports car with sleek lines and amazing handling. For a family car, you can’t do better than a Chevy Malibu or Chevy Impala. For the eco-conscious, we carry the Chevy Volt, a hybrid that can travel for about 40 miles on just an electric charge. To talk leasing, use our online contact form or give a sales team a call at 630-984-7554.