Chicagoland drivers are going to find that leasing a car is a whole lot more affordable now that there’s a new Illinois sales tax law. Under the new law, the taxes due on a leased vehicle have been cut dramatically, and that’s great news for drivers throughout the greater Chicago area. Here at Community Honda in Orland Park we’re already seeing an upswing in the number of our customers who are interested in leasing their next Honda. The newly restructured tax law combined with our competitive lease terms and rates means that you’re going to find some sweet incentives waiting for you at our Honda dealership near Frankfort.
Under the previous sales tax law, lessors paid a use tax on the full capitalized value of the vehicle to be leased, while the lessee was not required to pay any sales tax.
Now with the new sales tax law, vehicle leases that run for longer than one year will see a tax applied to each monthly payment, which is the way it works in most of the other states across the nation.
The result of the new sales tax law is beneficial to everyone–consumers will pay less in taxes, automotive dealers will lease more cars, and the state of Illinois will receive more money due to the increased amount of car leases being sold.
It’s pretty clear that this significant change in the tax due on a car lease will make the lease option a much more attractive one for Chicago area drivers. Here at Community Honda we’re looking forward to showing you just how affordable leasing a new Honda can be.
Stop by our Orland Park area Honda showroom and allow our friendly sales professionals to explain how the new Illinois sales tax law can benefit you today. Our dealership is located at 8340 W. 159th St., just west of S. 80th Avenue, in Orland Park. If you have any questions simply call us at (708) 364-2600 or contact us online. We look forward to leasing you an exciting new Honda today at Community Honda!