Best Car Lease Deals in Chicago, IL
Illinois changed in 2015 to tax only lease payments, not the full price. Below are the most competitive lease programs in the Chicago market this month.
Updated 2026-06-16 · Reviewed monthly
Metro
Chicago
Illinois
Lease tax rate
6.25%
State average
Federal EV credit
$7,500
Applies to all leased EVs
Popular vehicles to lease in Chicago
Driven by regional demand and dealer inventory in the Chicago market.
How leasing works in Chicago
Illinois changed in 2015 to tax only lease payments, not the full price. That tax structure is the biggest variable in Chicago lease pricing — every other element of a lease (residual value, money factor, manufacturer incentives) is set nationally by the captive lender.
Negotiation tips for the Chicago market
- Always negotiate selling price before discussing monthly payment
- Request the dealer's lease worksheet and verify residual % and money factor against published programs
- End-of-quarter (March, June, September, December) typically yields the deepest dealer discounts
- Stack manufacturer rebates (loyalty, conquest, college, military) — they apply directly as cap-cost reductions
- Use our lease calculator to verify the dealer's math