One Big Beautiful Bill Act Auto Loan Interest Deduction
New Auto Interest Tax Deduction Saves You Money on a New Ford!
What’s the Big News?
The recently signed One Big Beautiful Bill (OBBB, H.R.1) brings a bold new benefit to American car buyers: the opportunity to deduct the interest paid on qualifying new car loans.
Real Savings Your Wallet Will Love With the New Auto Loan Interest Deduction
This Auto Loan Interest Deduction program allows drivers to save up to $10,000 in interest payments on qualifying auto loans. What does that mean for you and your family? Well? What would you do with an extra $10,000 in your bank account? Whether you're saving the money, repurposing it towards other loans, or using it to plan a fun excursion or big purchase, the power is in your hands. Shaffer Ford is proud to be on your side as you explore your financial options through this program.
The Right Vehicle for Your Lifestyle
At Shaffer Ford, you can save big money when you finance or lease qualifying new Ford vehicles. Our inventory is comprised of vehicles you'll love. Whether you're shopping with us for the first time or you're a returning customer, the team at Shaffer Ford is happy to help you save. With the One Big Beautiful Bill Act (OBBA) Auto Loan Interest Deduction, you're in a position to win every time you shop with us."
FAQs
Yes. Vehicles used for personal use, family transportation, or partial business use may qualify. Fully commercial fleet vehicles are subject to separate IRS treatment.
You can deduct the interest paid on the first $75,000 of your vehicle loan. Any interest accrued beyond that loan amount is not deductible under the OBBB.
No. You may use any qualified lender, including dealership financing, credit unions, or banks. The key is that your loan includes clear interest terms and is used to finance a new qualifying vehicle.
The current provision is expected to remain active for three years, though that could change with future legislation. Act fast to take full advantage while it lasts.
In most cases, yes. This deduction may require you to itemize deductions on your federal return instead of taking the standard deduction. A licensed tax advisor can help you determine what’s best for you.
Contact Shaffer Ford to Learn More
Take advantage of the savings the OBBBA Auto Loan Interest Deduction program offers. Our team is standing by to help you discover more ways to save. We look forward to serving you.
How can we help?
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Shaffer Ford
10335 Mt Savage Road NW
Cumberland, MD 21502
- Sales: (301) 777-3900
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