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You would use the tax rate of the city in which the car would be registered. So, if you bought a car in Chicago, but live and register your car in Schaumburg, the dealer or st â¦ ate would use the Schaumburg tax rate when calculating your tax. The Illinois sales tax on new cars is 6.25 percent of the sale price of the car. The car dealer collects the sales tax and enters it on form ST0556. Lake county Illinois sales tax?
That sales tax will always be passed on to you, either as an up-front charge or built in to your lease payments. Second, if at the end of the lease term you decide to purchase the car, you are causing the ownership of the car to transfer from the lessor to yourself.That is the equivalent of a vehicle purchase and you will pay sales taxes again, on the price you purchased the car for.So, you pay sales taxes on the full price when you begin the lease, and you pay sales tax on the depreciated price if you purchase the car at the end of the lease.easing a car in Illinois results in a surprising additional sales tax obligation. First, since the lessor (usually the dealer) is moving the vehicle out of inventory and into the lease agreement, the dealer must pay a sales tax on their cost of the car.