Auto Loan Interest Deduction - One Big Beautiful Bill Act (OBBBA)
Effective July 4, 2025 | Save On New Ford Models
Save Big on a New Ford Vehicle Purchase this Year
The One Big Beautiful Bill Act (OBBBA) became law when the president signed the bill on July 4, 2025. The bill is massive and contains many changes to the tax code, including deductions for interest paid on new vehicles purchased from 2025 to 2028. You could claim up to a $10,000 deduction on any interest paid for your new Ford vehicle next tax season. However, there are strict vehicle requirements and income limits for single filers and households.
As part of the Ford for America promise, we proudly offer new Ford vehicles made in America at Virtue Motors to help you save on the costs of owning a great new vehicle.
Eligibility Requirements for the New Auto Loan Interest Tax Deduction
You could get significant savings next tax season when you buy a new Ford vehicle at Virtue Motors starting in 2025. You could be eligible for the deduction if you purchased your new Ford vehicle before the bill was signed into law. Be sure to review all the eligibility criteria and consult with your tax preparation specialist to confirm your eligibility status.
New Auto Loan Interest Tax Deduction Details:
- Deductible amount: Up to $10,000 per year
- Eligibility period: 2025-2028
- Vehicle types: electric vehicle (EV), Hybrid, and Gas Models made in America
- Vehicle Identification Number (VIN) requirement: Must start with 1, 4, or 5 to confirm final assembly in the U.S.
- Customer income thresholds: Deduction limited to single filers with incomes under $100K and joint filers under $200K
Ford for America: Eligible Vehicles at Virtue Motors
Ford has a long history of promoting made in America with headquarters in Dearborn, MI, and auto plants throughout the Midwest. With Ford for America, you can feel confident that your vehicle purchase helps keep the American economy going strong. While not all Ford vehicles meet the requirements for the new Auto Loan Interest Tax Deduction, the following models may qualify:
- Ford F-150, made in Dearborn, MI
- Ford F-150 Lightning, made in Kansas City, MO
- Ford Mustang, made in Flat Rock, MI
- Ford Bronco, made in Wayne, MI
- Ford Ranger, made in Wayne, MI
- Ford Explorer, made in Chicago, IL
- Ford Escape, made in Louisville, KY
Our team can help look up the VIN of the vehicle you are interested in to determine its made-in-America status. Please remember that the made-in-America requirement is just one of the eligibility criteria to qualify for the new tax deduction. Always consult your tax preparation professional for more details and to confirm eligibility.
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Virtue Motors
12075 State Rd 23 South
Darlington, WI 53530
- Sales: (608) 776-4431
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