Drivers now have an exciting new way to save on their next vehicle purchase at Dondelinger Chevrolet. The federal auto loan interest tax deduction makes it possible for qualified buyers to deduct interest paid on eligible loans for new, American-built Chevy models!
This program is only available for vehicles assembled in the United States and offers significant savings over the life of your loan, making this an ideal time to upgrade to a new Chevy with our experienced team. Discover the program details, models that qualify and how our financing professionals can support you from start to finish.
New Auto Loan Interest Tax Deduction Information
The new auto loan interest tax deduction allows qualified buyers to deduct up to $10,000 per year in interest from new car loans.1 This program is available through December 31, 2028, for those purchasing a new, American-built Chevy vehicle.1 Whether you itemize deductions on your federal tax return or take the standard deduction, this incentive could result in meaningful annual savings on your new vehicle.
Documentation of your loan and purchase will be required to claim this benefit, so it's important to save all related paperwork. Fortunately, the Dondelinger Chevrolet financing experts are here to help you take full advantage of this federal program and answer your questions every step of the way.
Which Chevy Models Qualify for the Deduction?
It's important to ensure that the specific vehicle you choose is both brand-new and listed with a final assembly point in the United States, as only these models are eligible for this federal incentive. If you are interested in vehicles with specific features or trim packages, our Chevy dealer in Baxter can help verify that the model you select qualifies.
Eligible new Chevy models and their place of final assembly include:
- Colorado (Wentzville, MO)
- Corvette (Bowling Green, KY)
- Express (Wentzville, MO)
- Silverado 1500 (Roanoke, IN)
- Silverado EV (Detroit, MI)
- Silverado HD (Flint, MI)
- Suburban (Arlington, TX)
- Tahoe (Arlington, TX)
- Traverse (Lansing, MI)
Who Qualifies for the Auto Loan Interest Deduction?
To qualify for the federal tax deduction, certain requirements must be satisfied. Thinking about submitting a Chevy finance application and taking home a new truck or SUV near Baxter? Here's what to know:
- Vehicle Requirements: Only a new Chevy assembled in the United States can be claimed.
- Income Limits: The full deduction is available to individuals with a modified adjusted gross income up to $100,000, or couples earning up to $200,000.1 The deduction is reduced for higher incomes.
- Loan Documentation: Save all records of loan and interest payments to support your deduction during tax season.
- Purchase Deadline: Financing for your eligible Chevy must be completed no later than December 31, 2028.
American-Built Chevy Vehicles in Baxter, MN
For step-by-step support with the auto loan interest tax deduction or eligibility information, contact Dondelinger Chevrolet today. Browse our new Chevy inventory, speak with our team of financing professionals or visit for a one-on-one consultation.
Ready to learn more? Meet with our financing team today to discuss how the auto loan interest tax deduction can benefit your next vehicle purchase. Whether you're interested in a fuel-efficient Traverse for daily commuting or a capable Silverado for work and weekend adventures, we'll help you find the right American-built Chevy that qualifies for this valuable tax benefit!
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1 See dealer for details. Eligibility and requirements are subject to change. We recommend speaking with a tax professional.