I live in Illinois (cook county) I’m buying a truck in North Dakota. Do I have to pay sales tax on the truck?? Please help I’ve gotten multiple answers
Buying used truck out of state need help
Discussion in 'Trucker Taxes and Truck Financing' started by Wumbo Jumbo, May 5, 2021.
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Vampire, Dave_in_AZ and Wumbo Jumbo Thank this.
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Bobtail and physical damage only or liability and cargo?
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Here you go this is exactly from the loan docs they just sent me.
The Certificate of Insurance (COI) should list: ✔ Borrower's business name ✔ Location address of the equipment ✔ Equipment Description ✔ Equipment Value ✔ Insurance Policy Number ✔ Effective and expiration date of coverage (A new policy must provide at least six months of continuous coverage, and equipment added to a current policy must provide an automatic semi-annual or annual renewal date.) ✔ Coverages afforded under the policy ✔ Applicable deductible amounts. Deductible not to exceed $1,000.00. ✔ CHB contract number if known ✔ D e s i g n a t i o n of Secured Party as Loss Payee ✔ I n d i c a t i o n the Policy cannot be Cancelled until after Thirty (30) Days' Prior Written Notice to Loss Payee Physical Damage Insurance: Physical damage insurance is required on all of the assets we finance. Insurance is to be provided for fire, theft, extended coverage, vandalism, all risk physical damage and malicious mischief for the full value of the equipment. Binders will not be accepted for Physical/Property Insurance. Secured Party or its successors or assigns is to be named as Lender's Loss Payable, as its interest may appear. The deductible may be no more than $1,000.00. Liability: Liability coverage is required as part of your contract, and proof of that liability insurance is required upon request by t he Secured Party. The Secured Party must be listed as an additional insured under the policy.
I wont need to worry about trailer insurance as the company takes care of everything with the trailers. -
Contact OOODA to get non-trucking liability and physical damage. They'll ask all about your equipment that you need to insure.
Wumbo Jumbo Thanks this. -
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Yes. I don't remember them requiring the signed lease, only the ILCC number.
Are you running under their plates? -
No ill be under my own plates and IFTA stickers. That's why I was also trying to find out if Im allowed to write on windshield "In transit" driving it back from North Dakota or if I need some sort of temp tag?
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