IL Private Car Purchase (sales, transfer, to buy)

[mattywo85]

I am looking to buy a used car privately and was wondering do I have to pay for new registration or can I transfer my current? Also do I have to pay taxes and how does that work being private?

[chet everett]

Cyberdrive is excellent Transferring Plates

[mattywo85]

Transferring plates is easy. But for the sales tax you need to fill out an RUT-50 form, title transfer can be done at the DMV. The only thing I'm not to sure about is if I can transfer my existing registration or I get it new.

[chet everett]

The existing plates have the annual registration sticker, is that what you are confused about?

[madpaddy]

Originally Posted by mattywo85

Transferring plates is easy. But for the sales tax you need to fill out an RUT-50 form, title transfer can be done at the DMV. The only thing I'm not to sure about is if I can transfer my existing registration or I get it new.

"Transferring plates" and "transferring registration" are one in the same. When you transfer your plates, you will be issued an updated registration card with the new vehicle information, but the same old expiration date.

[mattywo85]

Originally Posted by chet everett

The existing plates have the annual registration sticker, is that what you are confused about?

Oh yeah lol I guess that makes sense, duh! So when I transfer my plates I am transferring registration too but is there one fee or is it two separate fees?

[clem151]

BTW, it only makes sense to transfer plates if you have over 3 months left on the plates. It is a $25 fee for transferring or a $100-ish fee for new plates.

As another poster said, cyberdriveillinois is great for transferring plates and title. You can do the whole form online, print it, fill out a few things, and then send in the forms plus the old title to the SOS. Way better than waiting in line.

[Larry Siegel]

You can just have a currency exchange do it for a very small fee ($10 or $15 in addition to the state fees that they process for you). Unfortunately you are required to pay use tax, which is a form of sales tax.

For those who are from out of state, in illinois a "currency exchange" is not a foreign currency exchange but a privately operated office for check cashing, motor vehicle licenses, and miscellaneous financial transactions such as wiring money. They're everywhere.