Why Illinois' Leasing Regulation is a Game Changer for Consumers

Prior to the change, customers paid tax obligations on the full acquisition cost of a leased car, which resulted in higher costs, even though leases work more like leasings. A $30,000 vehicle leased for 36 months saw the general tax expense decrease from $2,475 to around $1,056, a savings that might affect lots of customers to take into consideration leasing over buying.

The upgraded regulation also eliminated the influence of trade-ins on the tax price for leased cars. Whether you are new to renting or a skilled pro, understanding how the new law impacts your lower line can make a large difference in how much you finish up paying over the term of your lease.

Check for more info at Bill Walsh Kia Facebook Twitter