In Illinois, The entity in charge of procedures related to vehicles is IL SOS (Office of the Illinois Secretary of State), which has its headquarters in Springfield and Chicago.
The cost to change vehicle ownership in Illinois is $155 statewide, but the fee drops to $15 when the transfer is made between spouses, or between parents and children.
The state tax is 6.25% about the sale price of the carto which the county tax must be added. The latter can vary quite a bit, reaching a maximum of 4.75%. Considering both rates, the Illinois average is 8.82%.
Besides, The tariff imposition also changes if the vehicle was purchased in another statein which case you must deduct what has been previously paid in taxes.
Additionally, two tables are applied to calculate tariffsdepending on whether the sales cost of the vehicle is greater or less than $15,000. The table that is taken into account for cars sold for less than $15,000 also considers age.
Because knowing how much taxes you pay to buy a car in Illinois is not easy, The recommendation is to contact the IDOR (Illinois Department of Revenue), and have them calculate the amount.
Requirements to change vehicle ownership in Illinois
Having explained what a title transfer costs in Illinois, Below we list the requirements.
- Original of the title completed and signed by the seller, with all the necessary information to transfer the title of the car.
- A vehicle smog check is required in some counties.
- USD-190 form that must be completed online on the IL SOS platform
- RUT-50 Tax Form, which you must request at the IL SOS headquarters
- Payment of fees and taxes
- Driver's license of any type issued in Illinois
- Plates from the previous car and application for their transfer or request to obtain new plates
- Form VSD-703 that releases the seller from liability with the car
Although it is not an essential requirement for the transfer of title in Illinois, It is recommended to have an invoice or receipt for the purchase of the used car.
Continue reading: CDL License Requirements in Illinois
How to sell a car in Illinois?
To sell a car in Illinois, after you close the transaction and collect the money, you have to fill out the title correctly in the indicated section and deliver it to the buyer. You must also remove the license plates from the car and send Form VSD-703 to IL SOS.
Who pays the transfer costs?
In the state of Illinois, as in the rest of the states of the United States, who pays for the transfer of title is the buyer. The expenses include the fee charged by the IL SOS, plus the payment of taxes in the IDOR depending on the county.
How to renew a car sticker in Illinois?
License plate sticker renewal in Illinois is done online with the registration ID and personal card pin. You pay by electronic check or credit card and the sticker is sent to your postal address in a maximum of 10 business days.