(WMAY-AM/FM) – One of the new taxes approved this year in Illinois will affect some people the next time they trade in a vehicle.
It applies the state sales tax to trade-ins valued at over $10,000, potentially adding hundreds of dollars of cost to the transaction.
The Illinois Automobile Dealers Association says the trade-in tax will mostly affect people seeking to trade in luxury vehicles… but says it will impact more and more people in the future as car values continue to climb.
