Buying and registering a car I’m planning on reselling?
I’m from Illinois and came to Texas to visit family and saw a good deal on a car. If I’m planning on selling it in Chicago what do I need? The dealership is giving the plates from Texas. What do I need to know before buying the vehicle and taking it? Do I personally have to register it in Chicago? Or the buyer?
Thanks in advance. 5 star answer
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Answers & Comments
Does the title match the vehicle? It is illegal to sell a vehicle without the title. Buyer can register it but it's you on the hook now if the title isn't any good.
Unless you are a car dealer, you will have to title, register, pay sales tax, and pay property tax in IL. My guess is that you will probably lose money on the deal, but it would be a good learning experience.
YOU will have to send off for a title yourself and that means paying sales tax on it,plus the regular lic. fees, then when you sell it the buyer will have to pay a out of state registration fee for Illinios plus sales tax, plus the lic. plate or registration fees..