YOU MAY BE ELIGIBLE FOR A TAX DEDUCTION FOR UP TO $10,000 IN ANNUAL INTEREST PAID * ON CERTAIN FORD & LINCOLN VEHICLES.
YOU MAY BE ELIGIBLE FOR A TAX DEDUCTION FOR UP TO $10,000 IN ANNUAL INTEREST PAID * ON CERTAIN FORD & LINCOLN VEHICLES.
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VIEW NEW INVENTORY*Eligible individual taxpayers may deduct up to $10,000 in annual interest paid or accrued on loans for qualifying new personal use vehicles, effective for 2025 through 2028. Must be new debt contracted after 12/31/2024 and excludes refinancing of debt incurred prior to 12/31/2024. Qualifying vehicles must have undergone final assembly in the United States. Tax deduction subject to change and filing requirements. Income restrictions and other restrictions and limitations may apply. Consult your tax, legal, or accounting professional if you have questions. This information does not constitute tax, accounting, or legal advice. Deduction is subject to federal laws and regulations and manufacturing constraints.
FAQs
- - PROVIDES A TAX DEDUCTION FOR UP TO $10,000 IN ANNUAL INTEREST PAID ON LOANS TO ACQUIRE U.S. ASSEMBLED QUALIFYING VEHICLES FOR ELIGIBLE CONSUMERS
- - APPLIES WHETHER AN INDIVIDUAL ITEMIZES DEDUCTIONS OR TAKES THE STANDARD DEDUCTION
- - Consult your tax, legal, or accounting professional if you have questions. This information does not constitute tax, accounting, or legal advice.
- - INCOME LIMITS: $100K SINGLE ($200K MARRIED FILING A JOINT RETURN) – PHASE OUT FOR NEXT $50K AND IS FULLY-PHASED OUT FOR TAXPAYERS WITH MODIFIED ADJUSTED GROSS INCOME IN EXCESS OF $150K ($250K MARRIED FILING A JOINT RETURN)
- - INDIVIDUALS FINANCING ONLY – NOT APPLICABLE TO COMMERCIAL/FLEET PURCHASES & NO LEASE BENEFIT
- - ONLY APPLIES TO INTEREST PAID IN TAX YEARS 2025-2028
- - MUST BE NEW DEBT CONTRACTED AFTER 12/31/2024, EXCLUDES REFINANCING OF DEBT INCURRED PRIOR TO 12/31/2024
- - MUST BE ASSEMBLED IN THE U.S.