I am looking to get out of my lease and I don’t understand how the tax works in IL.
My payment is $1,087/mo. I assume the tax, which is listed @ $3,028 on the paperwork is included into that price ($84/mo) since I only put 1st month down at signing.
If I transfer the lease, does the new owner (if in IL) continue to pay the $1,087/mo? Or would it be $1,003/mo and they pick up the taxes wherever they live? How do I advertise the car? Looking around this site I see it listed both ways. Am I still liable for the remaining 30 months of taxes on a lease transfer ($2,520)? I assume I would not be and the new owner is since we only pay a use tax on the amount that you are using.
Also, does anyone know if the Brake maintenance agreement is transferable?