Cook County includes a lot more than Chicago. Non Chicago Cook County does not include the additional 9% lease payment tax or the additional 1.25% initial tax. It is similar to most other states where you tax the leased amount, customer rebates and down payment amount.
Thatās insane. It seems like lease is an awful option with 18% in taxes.
I am working on X1 deal and dealer (out of state) tells me that BMWFS is asking him to collect 7% (Lake County) flat upfront!?!?
Can you clarify how BMWFS applied extra taxes paid to the payments? Did you talk to them prior purchasing your X2?
To close the loop here, I know nothing about the Chicago market, but had a really great experience with Bill Jacobs BMW. The BDC manager and GSM were both patient and reasonable.
It was not the best deal I have ever seen, but I was comfortable with it for the market/timeline/car the client gave me. This was a one-off for a friend where I shopped outside of my market.
Driving Assistance Pro is not an easy package to come by.
This is true, but it cant be rolled in to the payment, still.
Does BMW do those Owners Choice financing/leases in Chicago like they do in TX?? Can be a way to avoid the additional use tax??
It is absolutely amazing anyone would lease at that 18% tax rate, what an absolute joke.
I lived in Cook before. Not the city. A few dealers I dealt with I wondered if they ever put together a lease before. One was adamant with me that the depreciation was MSRP minus Residual and wouldnāt budge, giving me a 400 quote on a Terrain. Makes me wonder how many people they put that over on.
Easy, get yourself on a couple bills at in-laws and commit tax fraud. Tax fraud is in vogue now.
I once had to register my car at an address I was moving into before I actually moved in since I needed the residential parking permit for the actual move date. Previous renters let me pick up my USPS change of address confirmation and a bank statement and I was good with DMV.
Of course that was reverse tax fraud, I ended up owing Massachusetts extra money cause I had Massachusetts plates before my car was even in state and they have an annual tax.
Cook County is 8.25% and you can pay it in the monthly payments.
Just to clarify. If the sales price is $10K by BMWFS rules I need have to pay $700 in taxes (tax rate is 7% in Lake County) and this $700 can be rolled in to the payment 700/36 = $19.44 extra each month.
Will BMWFC adjust payments after car registration as I clearly overpaid taxes. In Illinois except Chicago we pay taxes only on depreciation.
I do not want to pay 7% on the residual just because the deal is with out of state dealer. Illinois dealers in general apply taxes only on monthly payments.
When the lease is still $200 a month on a BMW you go for it since the extra taxes are an extra $36 a month. Still going to lose FAR more purchasing
I would take that. Just not sure where to find these $200 deals:)
It is easy. You just need to be a college grad, USAA member, have a BMW, OL code, and put down 7 MSDs, and find a unicorn deal.
shrugs hasnāt been too hard for me. Got a wagon at $215 and an x2 at $175, can see both threads where I posted the deals.
I recently contacted them after seeing couple of people here mentioned their nameā¦GSM gave me a quote for $603 for a 62k BMW 530xi loaner and told he doesnāt want to negotiate any further. I have a deal for much less that that but was seeing if they are actually better. Good that you were able to get a good deal for your client.
I was just super direct and polite on what I wanted. Got within a 1% of target. Worked for me!
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With 18% chicago city tax, 1% is really not bad, not at all!
lol thats right!
The tax is what kills the deal. Good thing its a business expense for client 
Wanna work a deal with them for me? Iām local to them and interested in an M4. They have 3, although one is specced really low, and the others on the higher end.
This was an exception. I like to stay on my turf