question about registering a car in IL

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Nov 7, 2009 | 10:13 AM

DriveATransAm

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From: Chi-Town

question about registering a car in IL

When you get a new car, they make you pay taxes before registering it...What do you do if you

a) already have a car that you want to register (that you have paid taxes on at one point in time, but let the plates expire a while ago)

b) trade cars with someone? Do you make a bill of sale for $1 or show an equal trade? How does it work because I am sure the state will want some kind of money.

Nov 7, 2009 | 10:22 AM

weaklt1

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a.) if that car is already titled in your name, then you just get plates for it

b.) the taxes are assessed based on year of vehicle, not sales price ,unless the vehicle cost over $15k.

Nov 7, 2009 | 03:38 PM

DriveATransAm

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From: Chi-Town

Quote:

Originally Posted by weaklt1

a.) if that car is already titled in your name, then you just get plates for it

b.) the taxes are assessed based on year of vehicle, not sales price ,unless the vehicle cost over $15k.

A) yes it is

B) so you still have to pay taxes even if no money changed hands?