Tax Deduction

Made-in-America Auto-Loan Interest Deduction at a Glance

Under the BBB's new Made-In-America Auto-Loan Interest Deduction, financing a brand-new vehicle whose final assembly occurred in the United States (look for a VIN starting with 1, 4 or 5 and confirm on the window sticker) lets you deduct up to $10,000 of the interest you pay each year on that loan for purchases made between 2025 and 2028.

The break is "above the line," so even standard-deduction filers can use it, but it phases out once your AGI tops $100k as a single filer or $200k as a married filer. To claim, all you need to do is keep the purchase contract and lender interest statements, and claim the amount on the upcoming IRS form for "qualified passenger-vehicle loan interest" when you file.

On a typical $40k loan at roughly 8% APR, that's roughly $600 in federal tax savings if you're in the 20% bracket-every year you remain under the cap. In short: choose a U.S.-built model, finance wisely, and keep hundreds in your pocket instead of sending it to the IRS.

• What you get: Deduct up to $10,000 in auto-loan interest per year (2025-2028 purchases).
• Who qualifies: Buyers of new, personal-use vehicles whose final assembly is in the United States.
• Income limits: Benefit begins phasing out above $100k (single) / $200k (joint).
• No itemizing required: It's an above-the-line adjustment-standard-deduction filers welcome.

Which Chevrolet Vehicles Qualify For The Big Beauiful Bill's Car Loan Interest Deduction?