TAX Question
Thread Starter
MBWorld Fanatic!
Joined: Feb 2005
Posts: 1,046
Likes: 1
From: Chicago, IL
2011 E550 4Matic, 2002 M3 Vert
TAX Question
Hello,
Hopefully someone can help me out here...
I live in IL and when I leased my C55 I paid the tax up front of about 3k. However, when I leased the car I was in a suburb of Chicago and then moved into the city of Chicago a few months later. After changing my address my monthly payment went up $55 per month and I had about 35/36 payments left!
So basically, I'm paying tax twice on this leased vehicle. Does this make sense? I've called MB twice about it and they insist this is correct. I've looked up tax rates etc on the IL web site and cannot find anything about my situation.
Can anyone provide some insight to my situation?
Much appreciated,
Perry
Hopefully someone can help me out here...
I live in IL and when I leased my C55 I paid the tax up front of about 3k. However, when I leased the car I was in a suburb of Chicago and then moved into the city of Chicago a few months later. After changing my address my monthly payment went up $55 per month and I had about 35/36 payments left!
So basically, I'm paying tax twice on this leased vehicle. Does this make sense? I've called MB twice about it and they insist this is correct. I've looked up tax rates etc on the IL web site and cannot find anything about my situation.
Can anyone provide some insight to my situation?
Much appreciated,
Perry
MBWorld Fanatic!
Joined: Mar 2006
Posts: 4,278
Likes: 377
From: San Jose area
'19 E63S sedan
Hello,
Hopefully someone can help me out here...
I live in IL and when I leased my C55 I paid the tax up front of about 3k. However, when I leased the car I was in a suburb of Chicago and then moved into the city of Chicago a few months later. After changing my address my monthly payment went up $55 per month and I had about 35/36 payments left!
So basically, I'm paying tax twice on this leased vehicle. Does this make sense? I've called MB twice about it and they insist this is correct. I've looked up tax rates etc on the IL web site and cannot find anything about my situation.
Can anyone provide some insight to my situation?
Much appreciated,
Perry
Hopefully someone can help me out here...
I live in IL and when I leased my C55 I paid the tax up front of about 3k. However, when I leased the car I was in a suburb of Chicago and then moved into the city of Chicago a few months later. After changing my address my monthly payment went up $55 per month and I had about 35/36 payments left!
So basically, I'm paying tax twice on this leased vehicle. Does this make sense? I've called MB twice about it and they insist this is correct. I've looked up tax rates etc on the IL web site and cannot find anything about my situation.
Can anyone provide some insight to my situation?
Much appreciated,
Perry
Thread Starter
MBWorld Fanatic!
Joined: Feb 2005
Posts: 1,046
Likes: 1
From: Chicago, IL
2011 E550 4Matic, 2002 M3 Vert
I have to look at my contract. When I was on the phone w/ MB he said my monthly payment "before" going up included the 3k in sales tax on the car. Then after moving into Chicago, tax was due for the city, hence why it went up. But...55/month is like 2 grand..?
Thread Starter
MBWorld Fanatic!
Joined: Feb 2005
Posts: 1,046
Likes: 1
From: Chicago, IL
2011 E550 4Matic, 2002 M3 Vert
I forget.. is cap cost what I paid for the car or what MSRP was?
Actually, I remember now, it is what I paid for it.
The MSRP was 59xxx and I paid 52xxx for it. I had a 31k trade and the MB guy on the phone said I ended up paying 1600 something in tax when I orginally leased the car. In that suburb, vehicle sales tax is 6.5%. After doing the math all of that is correct as it comes out to 3300 or so.
What I'm still confused about though is why do I owe another 2k in taxes after moving to Chicago? That is a huge difference.
Actually, I remember now, it is what I paid for it.
The MSRP was 59xxx and I paid 52xxx for it. I had a 31k trade and the MB guy on the phone said I ended up paying 1600 something in tax when I orginally leased the car. In that suburb, vehicle sales tax is 6.5%. After doing the math all of that is correct as it comes out to 3300 or so.
What I'm still confused about though is why do I owe another 2k in taxes after moving to Chicago? That is a huge difference.
Last edited by SolidGranite; Oct 12, 2006 at 01:39 PM.
Thread Starter
MBWorld Fanatic!
Joined: Feb 2005
Posts: 1,046
Likes: 1
From: Chicago, IL
2011 E550 4Matic, 2002 M3 Vert
I read on the IL web site chicago vehicle tax is 7.00%.
Believe it or not, when I talked to the tax guy at MB he said their records were showing a Chicago vehicle tax rate of 6.00% and my payment might go up more!
Believe it or not, when I talked to the tax guy at MB he said their records were showing a Chicago vehicle tax rate of 6.00% and my payment might go up more!
Almost a Member!
Joined: Apr 2006
Posts: 32
Likes: 0
From: Chicago
06CLS55 Capri Blue/Ash
$$$ in Leases
Yup,
I'm on my second MB lease in the city of Chicago. I moved here from virginia. Chicago has a extra lease tax that is placed if you live in Chicago, in addition to the change of sales tax. All I can tell you is that I pay alot of surcharge taxes (~$6G, I think). I stopped asking questions, but the leasing guy at Fletcher Jones knows his stuff. I can give you his name/number if you want. Good luck, and Mayor Daley thanks you for your support !
I'm on my second MB lease in the city of Chicago. I moved here from virginia. Chicago has a extra lease tax that is placed if you live in Chicago, in addition to the change of sales tax. All I can tell you is that I pay alot of surcharge taxes (~$6G, I think). I stopped asking questions, but the leasing guy at Fletcher Jones knows his stuff. I can give you his name/number if you want. Good luck, and Mayor Daley thanks you for your support !
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MBWorld Fanatic!
Joined: May 2002
Posts: 1,030
Likes: 0
From: Hell
EFF YOU JACKIE
Two sites to help you out.
http://www.carinfo.com/capcost.html
http://www.leaseguide.com/lease02.htm
You shouldn't owe any other tax. The dealer collects and distributes the tax to the state you reside in at the time of purchase. You may pay a registration tax when re-registering your vehicle to your new address. But that is not a vehicle sales tax.
http://www.carinfo.com/capcost.html
http://www.leaseguide.com/lease02.htm
You shouldn't owe any other tax. The dealer collects and distributes the tax to the state you reside in at the time of purchase. You may pay a registration tax when re-registering your vehicle to your new address. But that is not a vehicle sales tax.
I forget.. is cap cost what I paid for the car or what MSRP was?
Actually, I remember now, it is what I paid for it.
The MSRP was 59xxx and I paid 52xxx for it. I had a 31k trade and the MB guy on the phone said I ended up paying 1600 something in tax when I orginally leased the car. In that suburb, vehicle sales tax is 6.5%. After doing the math all of that is correct as it comes out to 3300 or so.
What I'm still confused about though is why do I owe another 2k in taxes after moving to Chicago? That is a huge difference.
Actually, I remember now, it is what I paid for it.
The MSRP was 59xxx and I paid 52xxx for it. I had a 31k trade and the MB guy on the phone said I ended up paying 1600 something in tax when I orginally leased the car. In that suburb, vehicle sales tax is 6.5%. After doing the math all of that is correct as it comes out to 3300 or so.
What I'm still confused about though is why do I owe another 2k in taxes after moving to Chicago? That is a huge difference.
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