What Is the Auto Loan Interest Deduction?
Thinking about financing a new Ram, Jeep, Dodge or Chrysler? Now is an exceptional time to buy. Thanks to the federal auto loan interest deduction, qualifying buyers can now deduct up to $10,000 per year in interest paid on loans for eligible new vehicles purchased between 2025 and 2028. This remarkable benefit provides drivers the chance to upgrade to a brand-new vehicle while enjoying significant tax savings available exclusively for new car buyers.
Visit our Chrysler dealer near Warren and explore the latest Dodge SUVs, Jeep 4x4s and Ram trucks eligible for this valuable deduction!
What Vehicles Qualify for the Auto Loan Interest Deduction?
With this prime tax break, purchasing a new vehicle from our MI Ram dealer lets you enjoy advanced technology, rugged dependability and leading warranty coverage, all while maximizing your financial return.
Keep in mind, these tax savings do not apply to used vehicle purchases; only new cars, trucks and SUVs qualify. Act now to take advantage of this unprecedented opportunity for your automotive upgrade.
Top models on our lot that qualify may include:
- Ram 1500: Renowned for its capability, comfort, and top-tier features
- Dodge Durango: A powerful, versatile SUV perfect for both families and enthusiasts
- Jeep Wrangler: Seamlessly blends performance and off-road prowess with open-air freedom
- Jeep Grand Cherokee: Spacious, capable and ideal for everyday driving or dirt road adventures
Key Details About the Auto Loan Interest Deduction
- Available for new vehicles purchased and financed with a loan between January 1, 2025, and December 31, 2028
- Restriction applies to new vehicles only -- used car loans do not qualify
- Maximum deduction is $10,000 per year in interest for eligible buyers
- Qualifying vehicles must be assembled in the USA, and your loan must have first-lien status; eligible models will have a VIN starting with 1, 4, or 5
- Vehicle must be for personal use (not business/commercial purposes)
- Deduction phases out for those with a modified adjusted gross income over $100,000 (or $200,000 for joint filers)
Get Auto Financing in MI at Al Serra CDJR
Make the most of this special deduction by purchasing a new car at our Grand Blanc Jeep dealership near Warren. If you have questions about eligible vehicles or need guidance on how the deduction works, our finance experts are here to assist. Visit or contact us today to explore in-stock models and save on your next new American-made car!
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