Leasing a new 2025 RAV4 plug in hybrid XSE with premium package with the plan to buy it out immediately. I will be leasing from a dealer in New York and registering in Illinois.
I’ve found conflicting reports of how lease tax works in IL and if it is a “double tax” state. This article (Do You Pay Taxes on a Leased Car? | FINN) suggests that IL does tax you on the entire price of the vehicle in the monthly payments and when you buy it out. However, this article ( Illinois Car Sales Tax | Countryside | The Autobarn Volkswagen of Countryside) suggests the opposite. If anyone knows the right answer, it would be greatly appreciated!
Here’s the lease I was offered, the first link is with MSRP pricing along with vehicle specs, the second link is after they agreed to take $500 off.
Imgur: The magic of the Internet
Imgur: The magic of the Internet
Thanks in advance for your responses!