10k Tax Deduction
You May Be Eligible For A Tax Deduction up to $10,000 in Annual Interest Paid on Certain Chevrolet Vehicles!
Key Points:
- Allows car buyers a tax deduction of up to $10,000 in loan interest paid annually.
- Only U.S. assembled cars are eligible for the program.
- Applies to interest paid in tax years 2025 – 2028.
How do I know if my vehicle was built in America?
The vehicle identification number (VIN) indicates where the vehicle was built. If your VIN starts with a 1, 4, 5, or 7, then it was assembled in the United States.
You can find the VIN printed at the base of the windshield on the driver's side. The VIN can also be found on your auto insurance card and on the vehicle registration. If you want to find the exact location where your vehicle was assembled, you can use the VIN Decoder tool provided by the NHTSA.
A Sample of Models Built in the U.S.
GMC Hummer
Buick Enclave
GMC Sierra
Please check your VIN to verify the country of origin.
Frequently Asked Questions
What are the income limits?
The deductions phase out for single taxpayers with a modified adjusted gross income over $100,000. For married taxpayers filing a joint return, the limit is $200,000.
Do the deductions apply to vehicles used for business / commercial purposes?
No, the vehicle must be for personal use to qualify.
Do used vehicles qualify?
No, the deductions only apply to new vehicles.
Do lease payments qualify?
No, lease payments do not qualify for any deductions.
Act now and see if you qualify
Contact UsShopping for a vehicle?
View New Inventory*A tax deduction of up to $10,000 annual interest paid available to eligible buyers on qualifying new vehicles assembled in the U.S. Excludes used cars, leases and business purchases. Applies to interest paid in tax years 2025-28 on new debt contracted after 12/31/24. Consult a qualified tax professional or irs.gov for income restrictions and full terms and conditions. This information does not constitute tax, accounting, or legal advice.