FWIW, if you opt to lease or finance a car using a 3rd party, you might lose out on incentives that might only be available if you go through the manufacturer’s lender. Keep that in mind.
If I were in your shoes, I would not lease a Mercedes, Audi, BMW or any other German car with a 3rd party bank. Manufacturer lease terms are usually more favorable (RV and MF) compared to a 3rd party bank.
yikes! makes my 2020 C43 AMG at $700 look like a steal.
Why do you care about other banks to lease with? It doesn’t matter who you lease it thru as you will still get hit with 18.5% in taxes on payment if living in the City of Chicago. I lived downtown for 13 years and only paid cash for my cars as leasing is a hard NO GO. Cash, finance or nothing.
Feel like this needs to be reposted
it always amazes me to see people post things like this and be like, “what do you think of my deal?”
I live in Chicago, take out 3.8 loan from some credit union, get 10% off 3 series on these forums and finance it. I know Clutch been having some Midwest dealers recently I would hit him up see what he can offer in the area or close by.
yikes … for a pos C300
run
That was probably one of the better times to lease. My current lease is $372, which I felt was an absolute steal when I got it.
Do Not Lease MB if you live in Chicago City.
Try to finance a deal. @Clutch has good deals in MidWest for BMW…
Vehicle Tax rate if you buying and reside in Chicago.
Its about double that in the city of Chicago
Over under he won’t listen?
This is the additional 9% on top of the 9.5%:
Yes, the underlying MF and RVs used to be better BUT the additional 9% tax in the city made it a bad deal…now the MF and RVs stink and you still have the additional city tax. And to make it even worse the additional 9% is on the monthly payment which already includes state/county tax so you are paying that additional City tax on it too (double taxation)! Hey, if you like lighting money on fire go for it.
Have you looked at the dealer in Hoffman Estates? The last time I was out looking for MB, they were the better of the awful Chicago lot. Please widen your search to include the nearby states/ cities- Kansas, Iowa, Indy etc.
I got my last deal from Kansas and they shipped out with n0 issues. You need to fill out the least RUT-25 for the taxes and it is easy.
Doesnt matter whete it comes from. Still have tovpay those ridiculous lease taxes that make being in Chicago a no go.
Where does it says leasing a vehicle. It says rental cars and other stuff. Is that applies to buying also or just leasing. I read many documents from dmv and IDOR and none mentioned about this additional 9% tax on leasing for City of Chicago.
OP is already leasing a C300 so he must have the paperwork showing what tax rate he payed in 2019 to lease C300.
It does. I’m based in the same county, but the NW suburbs and on a lease. The 20% tax doesn’t apply to me. I think it applies if you live within Chicago city limits.
Yep based on home address. Not where purchased.
It applies only to leasing 100%. I lived there and know the law. Applies based on home address if in city.