Auto Loan Interest Tax Deduction at Dutch's Ford
Are you interested in getting the keys to a new Ford truck or SUV at Dutch's Ford? Drivers can now take advantage of recent changes to federal tax rules when purchasing a new Ford assembled in the United States. Through the new auto loan interest deduction, qualified buyers may deduct interest paid on eligible loans for American-built Ford vehicles.1
This program helps lower financing expenses and applies only to vehicles assembled in the U.S., making it an ideal time to consider upgrading to your next Ford vehicle. Discover how our Ford dealership near Moorhead can assist with the details, check vehicle eligibility and support you from application to purchase!
What's the New Auto Loan Interest Tax Deduction?
The latest auto loan interest tax deduction lets qualifying buyers subtract up to $10,000 per year in interest paid on new car loans.1 This initiative is available through December 31, 2028, giving drivers an important financial benefit whether they take the standard deduction or itemize on their tax return.1 If you're considering a new Ford truck, SUV or EV, this program offers meaningful yearly savings on your loan.
To take advantage of the deduction, it's essential to keep thorough records of your loan and purchase details to present at tax time.1 The Dutch's Ford finance experts are here to explain the program and assist you with all documentation required for your tax filing.
Which Ford Models Are Eligible for the Interest Deduction?
To access this deduction, your new Ford must be assembled in the United States.1 Below is a selection of new Ford vehicles that meet these requirements, along with their assembly locations:
- Bronco (Wayne, MI)
- Escape (Louisville, KY)
- E-Transit™ (Kansas City, KS)
- Expedition (Louisville, KY)
- Expedition MAX (Louisville, KY)
- Explorer (Chicago, IL)
- F-150 (Dearborn, MI, and Kansas City, KS)
- F-150 Hybrid (Dearborn, MI)
- F-150 Lightning (Dearborn, MI)
- Mustang (Flat Rock, MI)
- Ranger (Wayne, MI)
- Super Duty® (Louisville, KY)
- Transit® (Kansas City, KS)
Have questions about a specific model or trim? Reach out to our team for details and current inventory that qualifies.
How to Qualify for the Auto Loan Interest Tax Deduction
Ready to apply for Ford financing in Kentucky and take advantage of this federal tax benefit? Be sure to check these eligibility points before starting the process:
- Income Guidelines: Individuals with a modified adjusted gross income up to $100,000, or married couples earning up to $200,000 jointly, qualify for the full deduction.1 The benefit phases out for incomes above these limits.1
- Vehicle Build Requirements: Only new Ford models assembled in the U.S. are eligible under the program.
- Accurate Documentation: You must save your finance agreements, proof of interest paid and all related paperwork for your tax records.
- Purchase and Financing Timing: Your loan for a qualifying Ford must be finalized by December 31, 2028, to capture the benefit.1
Our finance experts can review your situation and help you understand exactly what you need to secure your deduction.
Finance a New American-Made Ford Near Me
Ready for a lower cost of ownership on your next Ford? Contact Dutch's Ford in Mt. Sterling for guidance through each step, from confirming model eligibility to completing your auto loan paperwork and answering tax-related questions.
Browse our selection of American-assembled Ford vehicles, speak with our knowledgeable team for one-on-one assistance or get pre-approved for Ford financing online. Let us help you drive home in a new Ford F-150 or Explorer for sale near Moorhead, all while maximizing the available federal tax savings!
Learn More: Why Buy from Us? | When's the Best Time to Buy a Car? | Sell My Car
1 See dealer for details. Eligibility and requirements are subject to change. We recommend speaking with a tax professional.